New York (Aug. 3, 2004) — A minor portion of the current export-tax legislation measure that is currently before lawmakers, may, in effect, enhance the value of the nation’s sports franchises.
According to The New York Times, the proposal would allow the owners to write off the full value of their franchises over a 15-year period. Currently, the existing guidelines limit teams to writing off only the value of player contracts over three to five years. Additionally, large items subject to the new ruling include write-off periods for lucrative television and radio contracts.
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