Trump’s Sports Taxes Could Target Team Owners Worth $869 Billion

For the richest people in the world, a sports team is the ultimate trophy — and one that comes with some appealing tax advantages. Now, those writedowns are at risk from President Donald Trump.

The administration is looking to “eliminate all special tax breaks for billionaire sports team owners,” White House Press Secretary Karoline Leavitt said Thursday.

It’s not clear what that would include, nor whether Congressional Republicans will go along with the proposals. But it’s unlikely to ultimately dent the appeal of sports ownership to the top 0.01%.

“You don’t buy a sports team and hope to become wealthy; you’re ...