New York Politico Questioning NCAA’s Tax-Exempt Status

Rangel (c) Looking Into Tax-Exempt Status Of NCAA

U.S. Rep. Charles Rangel (D-NY), the ranking Democrat on the House Ways & Means Committee, has “promised not only to continue an examination” of the NCAA’s tax-exempt status, but “might push for potentially embarrassing public hearings,” according to a Rangel staffer cited by Richard Tedesco of the N.Y. POST. The hearings could “touch upon sensitive issues such as “highly paid coaches with no academic duties, mega-rich corporate sponsorships, why college [teams] are penalized only when more than half its players fail to graduate,” and the NCAA’s TV deal with CBS for the men’s basketball tournament. The House Ways & Means Committee submitted a list of questions to NCAA President Myles Brand regarding the organization’s tax-exempt status earlier this month and the NCAA “has until Oct. 30 to deliver answers.” Rangel could take over as Chair of the committee if Democrats win control of the House in November (N.Y. POST, 10/15).