Bloomberg Tax
Free Newsletter Sign Up
Bloomberg Tax
Welcome
Go
Free Newsletter Sign Up

Buyer of NFL’s Broncos Could Write Off $3 Billion, Sportico Says

Jan. 26, 2022, 5:49 PM

Whoever buys the NFL’s Denver Broncos in what’s expected to be the most expensive team sale in U.S. sports history is in line for a tax write-off that could total as much as $3 billion, according to Sportico.

Under Internal Revenue Service rules, the new owner will be allowed to deduct intangible assets, which can amount to more than 90% of a sports team’s value, the online news site said in a report Wednesday. Sportico valued the Broncos at $3.8 billion in September.

The write-off could reduce the team’s income tax burden by as much as $240 million annually for ...

To read the full article log in.

Learn more about a Bloomberg Tax subscription