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New owners' tax break losing value

By Darren Rovell
ESPN.com

Thursday, April 15, 2004

Tax day used to be a sigh of relief for new owners of professional sports teams, but for today's owners recently welcomed into the sporting world fraternity, the reception from Uncle Sam isn't as great as it was decades ago. Boston Red Sox owner John Henry, along with a group of partners, spent $700 million to purchase the team two years ago and will spend $125 million on a team that hopes to beat the New York Yankees this year. But Henry will not benefit as much from what used to be one of the ...

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