IRS Slapshot Misses
Summer is here, so naturally, everyone’s thinking about hockey. The Pittsburgh Penguins have just taken their second Stanley Cup in a row, and the rest of the NHL is working to make sure there’s no three-peat. But one of those teams just won a different sort of contest, in Tax Court of all places. So let’s go to the tape . . . Jeremy Jacobs is the owner and chairman of Delaware North, a concession company operating at places like stadiums, racetracks, and national parks. (Sounds like he’s as much to blame as anyone for the $14 beers you bought at your last ballgame.) He also owns the Boston Bruins, which finished 2017 with a 44-31-7 record in the league’s Eastern Conference. Forbes magazine pegs his net worth at just $4.4 billion, which means he’s barely a billionaire and still has to watch his pennies. The Bruins play half their games on the road. Those road trips can get expensive, especially when it comes to feeding everyone: “between 20 and 24 players, the head coach, assistant coaches, medical personnel, athletic trainers, equipment managers, communications personnel, travel logistics managers, public relations/media personnel, and other employees.” The team actually requires everyone to…
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