A congressman said he plans to investigate testimony from Alamo Bowl executive director Derrick Fox at this month’s Bowl Championship Series subcommittee hearing after learning that Fox might have exaggerated by millions of dollars the amount bowl games donate to local charities.
Fox, while representing all 34 bowl games during his appearance on Capitol Hill on May 1, claimed in his argument against a playoff that “almost all the postseason bowl games are put on by charitable groups” and “local charities receive tens of millions of dollars every year.”
In fact, 10 bowl games are privately owned and one is run by a branch of a local government. The remaining 23 games enjoy tax-exempt status from the Internal Revenue Service, but combined to give just $3.2 million to local charities on $186.3 million in revenue according to their most recent federal tax records and interviews with individual bowl executives.
Read More
http://rivals.yahoo.com/ncaa/football/news?slug=ys-congressbcs052509&prov=yhoo&type=lgns
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment