According to the new book "May The Best Team Win", the NY Yankees are avoiding baseball's internal tax system through several highly questionable and devious methods.
The YES (regional Sports Network) is associate with the Yankees and the NJ Nets. The YankeeNets parnership attributes a larger share to the Nets than they should get, because this revenue doesn't have to be shared with other NBA teams, while the Yankees do have to share with other MLB teams. The Yankees local revenue in 2002 was subject to a 20% sharing tax, and this rate will rise.
The shocking truth, according to Mr. Zimbalist, is that the Yankees are sheltering more than $60 million (SIXTY MILLION!) per year from baseball's internal tax system through this method!
Also, as soon as a revenue sharing tax was phased in, the Yankee stadium operating expenses began to unexplainably and mysteriously rise. The Yankees reported stadium expenses rose from $9.5 million in 1995 to $16.2 million in 1997 and around $21 million in 2001! This is aapparently just a method of sheltering income from MLB revenue sharing taxes by using phony stats to inflate stadium expenses.
It is time for MLB to crack down on Steinbrenner and make him pay his fair share, especially with the new luxury tax provisions. He will try to get around these taxes too.
What good is the tax if George Steinbrenner, the one person who most made these taxes necessary, does not pay?
http://www.sunspot.net/cgi-bin/ultbb/ultimatebb.cgi?ubb=get_topic;f=1;t=015018
The YES (regional Sports Network) is associate with the Yankees and the NJ Nets. The YankeeNets parnership attributes a larger share to the Nets than they should get, because this revenue doesn't have to be shared with other NBA teams, while the Yankees do have to share with other MLB teams. The Yankees local revenue in 2002 was subject to a 20% sharing tax, and this rate will rise.
The shocking truth, according to Mr. Zimbalist, is that the Yankees are sheltering more than $60 million (SIXTY MILLION!) per year from baseball's internal tax system through this method!
Also, as soon as a revenue sharing tax was phased in, the Yankee stadium operating expenses began to unexplainably and mysteriously rise. The Yankees reported stadium expenses rose from $9.5 million in 1995 to $16.2 million in 1997 and around $21 million in 2001! This is aapparently just a method of sheltering income from MLB revenue sharing taxes by using phony stats to inflate stadium expenses.
It is time for MLB to crack down on Steinbrenner and make him pay his fair share, especially with the new luxury tax provisions. He will try to get around these taxes too.
What good is the tax if George Steinbrenner, the one person who most made these taxes necessary, does not pay?
http://www.sunspot.net/cgi-bin/ultbb/ultimatebb.cgi?ubb=get_topic;f=1;t=015018
