Browns Raising Season-Ticket Prices Dodgers Unveil '15 Ticket Prices Seahawks Brand Still Has Room To Grow Phillies Shake Up Front Office Hornets To Raise Season-Ticket Prices D-Backs' Payroll High For Team, Low For MLB Will Deflategate Impact Kraft-Goodell Relationship? Benson Remains Heavily Involved With Teams Koonin Won't Put Timetable On Hawks Sale White Sox Need To Capture Casual Fans
Upcoming Conferences and Events
BOWLEN WINS TAX RULING AGAINST IRS ON BRONCOS PURCHASE
Published January 7, 1998
A federal tax court "has upheld the way" Broncos Owner Pat Bowlen valued the team when he purchased it in '84, according to the ROCKY MOUNTAIN NEWS. The decision "allows him to retain" a $1.35M tax deduction "that has been in dispute for nine years." The "key issue" involved whether Bowlen's acquisition of the team was "technically the purchase of a franchise or the purchase of a partnership." By contending that it was the purchase of a partnership, he was able to write off $36.1M in player contracts against future profits. The IRS "questioned the tactics," leading to Bowlen filing a complaint (ROCKY MOUNTAIN NEWS, 1/7).