In a Bloomberg BusinessWeek article, Victor Matheson, associate professor of economics at the College of the Holy Cross, discusses the recent tax-court judge’s ruling that stated that The New York Red Bulls, a major league soccer team named after its billionaire owner’s energy-drink company, owes $3.6 million in property taxes to Harrison, New Jersey.
“Sports teams seem to be more successful than most businesses in securing tax breaks,” he said. He elaborated by explaining that the reason for this is because a sports team cannot be as easily replaced as other businesses. He compared the Red Bulls’ situation to a similar case involving the New York Giants and East Rutherford, New Jersey.
This "Holy Cross in the News" item is by Sara Bovat '14.
