I was aware of sports team owners being able to depreciate their player’s contracts and deduct the salaries as an operating expense, since Mrs. White Rock used to work in accounting at a local professional sports team. But you really need to go read the whole article to get a sense of the nonsense of pro sports subsidies.
The article also touches on college sports.
Gaahhh!
Update: I want it understood that when the author of the article says that tax exempt stadium bonds cost the treasury money he’s wrong, but it doesn’t change his overall point by much. One industry should not be favored over another. And pro sports seems to be a particularly bad industry to choose to subsidize if public policy goals at to help/grow the middle class.