The explosion of television dollars has largely been credited as the driving force in the facilities boom in both professional and collegiate sports over the past 20 years or so. And while that has undoubtedly helped put cranes up on nearly every campus in America, it's not the only reason.
Nearly 30 years ago, Louisiana lawyer Theodore L. Jones was among those that successfully lobbied Congress to make donations to college sports programs tax deductible. That could come to an end soon.
As Bloomberg Business reports, President Barack Obama presented a federal budget Monday that would slash the 80 percent tax deduction on donations required on top of ticket purchases. The White House also wants to end tax-exempt bonds used to finance professional sports facilities. Together, the government claims closing both loopholes would raise more than $3 billion in tax revenue over the next decade.
“I wouldn’t want to take on all the college presidents and college sports programs around the country,” Jones told Bloomberg. “But I’m not the president.”
It's hard to say how much exactly this would hinder athletics departments' fundraising efforts, but you can bet athletics directors and boosters across the country are on the horn with their favorite lawmakers as you read this.
While athletics departments will always find ways to raise money, the proposed end of this tax cut won't make life in the development office any easier.