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View Full Version : Stern says luxury tax will remain in place



JordansBulls
06-05-2009, 07:11 PM
Source: NOLA (http://www.nola.com/sports/t-p/index.ssf?/base/sports-43/124417987474800.xml&coll=1)



"There's a difference between choosing to and having a need to," Stern said. "No, there's no contemplation of eliminating or reducing luxury tax."

Twelve teams received loans from the league this spring. Since 2003, 17 of the league's 30 teams have borrowed a combined $2 billion since the league opened a line of credit for loans used by teams.

"New Orleans is profitable, and they tapped in," Stern said. "I can understand you tap (into the league's line of credit) -- some teams do it to cover operating losses so owners don't dip into their own pockets. Some do it because it's a good idea. The money is inexpensive and the credit line is a good."

Vinny642
06-05-2009, 07:15 PM
Dam, coulda reduced it for us.