How Billionaires Get Tax Breaks From Sports Teams: ProPublica

When it comes to America’s favorite sports, owning a team comes with perks: the best seats in the house for you and your friends, access to the players and, of course, the option of lowering your taxes.

Some of the wealthiest owners in professional sports are taking advantage of strategies to reduce their tax burden, often paying a lower rate than the athletes who play for them, according to a reportThursday by ProPublica that cites confidential Internal Revenue Service documents.

Take the case of the National Basketball Association’s Los Angeles Clippers, owned by former Microsoft Corp. Chief Executive Officer ...