recent turmoil on PGA The tour is enough to give a man acid reflux, but who can blame them? they tried to give up on l4th trip only for spark government intervention She hoped when Greg Norman was poaching his best players, and now she can end the sloth and the much-coveted tax-exempt status of the Spotlight Tour.
Rep. John Garamendi (D-CA) wrote the law — the No corporate tax exemption for Professional Sports Act It would essentially eliminate pro sports leagues from using 501(c)(6) status under the tax code. While Saudi Arabia has made Toure a sympathetic figure, unable to match contract offers and court costs, it is a slug like any other corporation.
The circuit was projected to pay $1.522 billion in revenue for 2022, with an estimated $838 million allocated to player purses. according to SI, So, please me, why is the PGA Tour named after Zeus’s butthole ever worth skating over your tax bill? I’m not a CPA, just an asshole behind a keyboard, but holding some outreach programs urban overachievers Does not qualify as a non-profit.
MLB, NFL clipped their wings, and now it’s the PGA Tour’s turn
The NFL lost its cherished tax-exempt status in 2015, eight years after MLB, and it’s a wonder how they got away with it in the first place. white collar I guess crime comes in all forms, including IRS-approved methods. Regardless of how Sen. Richard Blumenthal’s investigation into the PGA-Liv deal unfolds, the public will need some time to digest its findings — if those findings are tasteful at all.
I mean just look at the size of the horse. Garamendi came riding (via forbes,
“Saudi Arabia cannot be allowed to let its government’s appalling human rights abuses and the 2018 murder of American-born journalist Jamal Khashoggi take over the PGA Tour. PGA Tour commissioner Jay Monahan should be ashamed of the open hypocrisy he and the rest of the PGA Tour leadership demonstrated by allowing a foreign government sovereign wealth fund with an abysmal human rights record to take over a prestigious American sports league. And avoid paying a dime in federal corporate income tax. The merger comes in the face of players on the PGA Tour turning down a hundred-million-dollar payout from the Saudi-backed LIV to align themselves with the right side of history and human decency.
Good lord, I haven’t seen so much self-righteousness in one paragraph since my last PGA-LIV column. No one is above reproach, especially not a 78 year old professional politician or internet blogger. That said, neither Garamendi nor I am on trial; The PGA Tour has an image, and any golf fan who thinks there’s going to be a good guy in all of this is incredibly naive.
absolutely love NFL, nbafifa, NHLAnd mlb Before that, there’s no disillusionment with the PGA Tour’s motivations anymore, and that transparency is ultimately a good thing. Question everything, always.
PGA Tour holdouts should have seen this coming
Rory McIlroy, Tiger Woods, and all the other golfers who chose not to take blood money really should have hedged their soundbites. It’s easier for me to write in hindsight, yet they’re closer to it than even the most inside-y of golf insiders. Long legal battles often turn into a big bank small bank game, and it was clear to Leap that The treasure was better stored.
If the Tour was truly deserving of its non-profit/tax-exempt status, its purported altruism wouldn’t need to be dished out like a 3-year-old sharing his Skittles. It’s one thing to hope that a multibillion-dollar company does the right thing, but it’s an entirely different prospect to bet your integrity on it.
Perhaps that kind of wealth drowns out the cynicism among working class people. You know them, don’t you? The ones that aren’t are pretty much tax-exempt.