IRS Come After The Gluttonous Big 4?

[TexanMark]

We are starting to get into big bucks and these guys are operating like a cutthroat big business...wonder if the IRS would come sniffing? Take away the non-exempt status for all this revenue?

Also, I'd imagine if the Gluttonous Big 4 made this happen (I have my doubts)...I could see Congressmen and lawsuits coming...Chucky Schumer TV time coming up.

 

[javadoc]

We are starting to get into big bucks and these guys are operating like a cutthroat big business...wonder if the IRS would come sniffing? Take away the non-exempt status for all this revenue?

I don't know the current status of NCAA-governed monies, but adding a tax to the scenario would only make things worse IMO. College football is a product without competitors, so the cost of added taxes would be passed through to the customers. Were that not possible, the "production costs" would have to drop, which would be handled by dropping men's non-revenue sports all over the place to reduce costs.

I would be tickled to see how the factories would respond to someone coming in and enforcing boundaries on their excesses, which the NCAA clearly is not willing to do. To crush the childish programs, drive their fanbases before you, and hear the lamentations of their boosters.

 

[elimunelson]

I think what will happen if we go to a 4 conference scenario is the Virginia governor/ACC situation will pop up. Never underestimate the power of the federal government knocking down this perfect marriage of the 4 big conferences. No way high powered senators from the north east/mid atlantic are going to allow 4 power conferences to control college football. Ain't going to happen. Someone will force the issue once and for all and make sure the ACC has a seat at the table (and probably the scraps left at the Big East table).

Politicians don't take this stuff sitting down much like Warner didn't allow Syracuse to waltz into the ACC without strong arming UVA into getting Tech in there first.

 

[tipphill]

see roosevelts new deal thread