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Originally Posted by Dr Winston O Boogie jr
Unlike other athletes, the players on the PGA Tour only get paid if they play well. Tom Brady is still getting paid tens of millions while playing poorly. Golf tennis and bowling are the only sports that I can think of where the players are paid based solely on their performance.
Also, The PGA Tour gave over $3 billion to charities in 2021 and that number will increase in 2022.
They pay no taxes because as you stated, they are not for profit. All the money they collect is spent on expenses or donated to charities. Yes, they pay out millions to their players. They do that in order to attract the best players in the world in order to keep up interest in their product so that they can continue to give $BILLIONS to charity.
By the way, those millionaire players pay taxes on the money that they win so I wouldn't worry about Uncle Sam getting his cut and most of the elite players have set up charitable foundations. You only have to look as far as Orlando to see the Arnold Palmer and Winnie Palmer hospitals. In The Jack Nicklaus hospital for children is in Columbus Ohio.
Click here to read about The Tiger Woods Foundation and all that they do to help children. About - TGR Foundation, A Tiger Woods Charity
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Maybe you didn't hear but the players are all guaranteed 500k per year now. That makes them employees. Also, let's not forget the 100 million in PIP Player Impact Program that Tiger a billionaire won 2 years in a row for a cool $75 million.
Keep in mind this is unlike a not-for-profit like St.Jude which is trying to save kids' lives. The PGA is trying to look like heroes donating some money while making their pockets as fat as possible.
I imagine when the lawsuits start and we get to discovery the PGA tax exemption will come under more scrutiny.