At long last, tax relief for professional team owners

The proposed change affecting sports team owners, which has been passed without hearings or debate, would allow the owners to write off the full value of their franchises over 15 years. Existing law generally limits teams to writing off only the value of player contracts over three to five years. The biggest items subject to the expanded write-offs would be television and radio contracts.

The benefits would apply to newly acquired assets, so current owners would not actually pocket more money, but they could command higher prices when they sell.

See the New York Times for details.

And the legislation is buried in an export tax bill. I'm sure that money will trickle down to the poorest professional athletes, it seems like a sensible plan.