Luxury Tax (sports)
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Luxury Tax (sports)
A luxury tax in professional sports is a surcharge put on the aggregate payroll of a team to the extent to which it exceeds a predetermined guideline level set by the league. The ostensible purpose of this "tax" is to prevent teams in major markets with high incomes from signing almost all of the more talented players and hence destroying the competitive balance necessary for a sport to maintain fan interest. The money derived from the "tax" is either divided among the teams that play in the smaller markets, presumably to allow them to have more revenue to devote toward the contracts of high-quality players, or in the case of Major League Baseball, used by the league for other pre-defined purposes. In North America, Major League Baseball has implemented the luxury tax system. The National Basketball Association also has a luxury tax provision; its utility is somewhat limited by the fact that the league also has a salary cap provision. The "hard" salary cap of the National Football ...
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North America
North America is a continent in the Northern Hemisphere and almost entirely within the Western Hemisphere. It is bordered to the north by the Arctic Ocean, to the east by the Atlantic Ocean, to the southeast by South America and the Caribbean Sea, and to the west and south by the Pacific Ocean. Because it is on the North American Plate, North American Tectonic Plate, Greenland is included as a part of North America geographically. North America covers an area of about , about 16.5% of Earth's land area and about 4.8% of its total surface. North America is the third-largest continent by area, following Asia and Africa, and the list of continents and continental subregions by population, fourth by population after Asia, Africa, and Europe. In 2013, its population was estimated at nearly 579 million people in List of sovereign states and dependent territories in North America, 23 independent states, or about 7.5% of the world's population. In Americas (terminology)#Human ge ...
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Los Angeles Angels Of Anaheim
The Los Angeles Angels are an American professional baseball team based in the Los Angeles metropolitan area. The Angels compete in Major League Baseball (MLB) as a member club of the American League (AL) West division. Since 1966, the team has played its home games at Angel Stadium in Anaheim, California. The franchise was founded in Los Angeles in 1961 by Gene Autry as one of MLB's first two expansion teams and the first to originate in California. Deriving its name from an earlier Los Angeles Angels franchise that played in the Pacific Coast League (PCL), the team was based in Los Angeles until moving to Anaheim in 1966. Due to the move, the franchise was known as the California Angels from 1965 to 1996 and the Anaheim Angels from 1997 to 2004. "Los Angeles" was added back to the name in 2005, but because of a lease agreement with Anaheim that required the city to also be in the name, the franchise was known as the Los Angeles Angels of Anaheim until 2015. The current Lo ...
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Sports Culture
Sport pertains to any form of competitive physical activity or game that aims to use, maintain, or improve physical ability and skills while providing enjoyment to participants and, in some cases, entertainment to spectators. Sports can, through casual or organized participation, improve participants' physical health. Hundreds of sports exist, from those between single contestants, through to those with hundreds of simultaneous participants, either in teams or competing as individuals. In certain sports such as racing, many contestants may compete, simultaneously or consecutively, with one winner; in others, the contest (a ''match'') is between two sides, each attempting to exceed the other. Some sports allow a "tie" or "draw", in which there is no single winner; others provide tie-breaking methods to ensure one winner and one loser. A number of contests may be arranged in a tournament producing a champion. Many sports leagues make an annual champion by arranging games in a r ...
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Sports Labor Relations
Sport pertains to any form of competitive physical activity or game that aims to use, maintain, or improve physical ability and skills while providing enjoyment to participants and, in some cases, entertainment to spectators. Sports can, through casual or organized participation, improve participants' physical health. Hundreds of sports exist, from those between single contestants, through to those with hundreds of simultaneous participants, either in teams or competing as individuals. In certain sports such as racing, many contestants may compete, simultaneously or consecutively, with one winner; in others, the contest (a ''match'') is between two sides, each attempting to exceed the other. Some sports allow a "tie" or "draw", in which there is no single winner; others provide tie-breaking methods to ensure one winner and one loser. A number of contests may be arranged in a tournament producing a champion. Many sports leagues make an annual champion by arranging games in a ...
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Sports Rules And Regulations
The regulation of sport is usually done by a sport governing body for each sport, resulting in a core of relatively invariant, agreed rules. People responsible for leisure activities often seek recognition and respectability as sports by joining sports federations such as the International Olympic Committee, or by forming their own regulatory body. In this way sports evolve from leisure activity to more formal sports: relatively recent newcomers are BMX cycling, snowboarding, wrestling, etc. Some of these activities have been popular but uncodified pursuits for different lengths of time. Indeed, the formal regulation of sport is a relatively modern and increasing development. This method promotes a sport globally, in a very successful way. It also promotes the universality of each sport, by ensuring that the same gameplay rules are being practiced worldwide, using a standardized/homogenous international gameplay rule system (sanctioned by the respective international sports govern ...
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Canadian Football League
The Canadian Football League (CFL; french: Ligue canadienne de football—LCF) is a professional sports league in Canada. The CFL is the highest level of competition in Canadian football. The league consists of nine teams, each located in a city in Canada. They are divided into two divisions: four teams in the East Division and five teams in the West Division. As of 2022, it features a 21-week regular season in which each team plays 18 games with three bye weeks. This season traditionally runs from mid-June to early November. Following the regular season, six teams compete in the league's three-week playoffs, which culminate in the Grey Cup championship game in late November. The Grey Cup is one of Canada's largest annual sports and television events. The CFL was officially named on January 19, 1958, upon the merger between the Interprovincial Rugby Football Union or "Big Four" (founded in 1907) and the Western Interprovincial Football Union (founded in 1936). History Ear ...
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Boston Celtics
The Boston Celtics ( ) are an American professional basketball team based in Boston. The Celtics compete in the National Basketball Association (NBA) as a member of the league's Eastern Conference Atlantic Division. Founded in 1946 as one of the league's original eight teams, the Celtics play their home games at TD Garden, which they share with the National Hockey League's Boston Bruins. The Celtics are one of the most successful basketball teams in NBA history. The franchise is one of two teams with 17 NBA Championships, the other franchise being the Los Angeles Lakers. The Celtics currently hold the record for the most recorded wins of any NBA team. The Celtics have a notable rivalry with the Los Angeles Lakers, which was heavily highlighted throughout the 1960s and 1980s. During the two teams' many match-ups in the 1980s, the Celtics' star, Larry Bird, and the Lakers' star, Magic Johnson, had an ongoing feud. The franchise has played the Lakers a record 12 times in the NB ...
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NBA Salary Cap
The NBA salary cap is the limit to the total amount of money that National Basketball Association teams are allowed to pay their players. Like many professional sports leagues, the NBA has a salary cap to control costs and benefit parity, defined by the league's collective bargaining agreement (CBA). This limit is subject to a complex system of rules and exceptions and is calculated as a percentage of the league's revenue from the previous season. Under the CBA ratified in July 2017, the cap will continue to vary in future seasons based on league revenues. For the 2022–23 season, the cap is set at $123.655 million. The majority of American leagues (NFL, NHL, MLS) have hard caps while the NBA has a soft salary cap. Hard salary caps forbid teams from going above the salary cap. Soft salary caps allow teams to go above the salary cap, but will subject such teams to reduced privileges in free agency. Teams that go above the luxury tax cap are subject to the luxury tax (a tax on every ...
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Washington Nationals
The Washington Nationals are an American professional baseball team based in Washington, D.C.. They compete in Major League Baseball (MLB) as a member of the National League (NL) East division. From 2005 to 2007, the team played in RFK Stadium while a new stadium was being built. In 2008, they moved in to Nationals Park, located on South Capitol Street in the Southeast quadrant of D.C., near the Anacostia River. The Nationals are the eighth major league franchise to be based in Washington, D.C., and the first since 1971. The current franchise was founded in 1969 as the Montreal Expos as part of a four-team expansion. After a failed contraction plan, the Expos were purchased by MLB, which sought to relocate the team to a new city. Washington, D.C. was chosen in 2004, and the Nationals were established in 2005 as the first MLB franchise relocation since the third Washington Senators moved to Texas in 1971. While the team initially struggled after moving to Washington, the ...
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Chicago Cubs
The Chicago Cubs are an American professional baseball team based in Chicago. The Cubs compete in Major League Baseball (MLB) as part of the National League (NL) Central division. The club plays its home games at Wrigley Field, which is located on Chicago's North Side. The Cubs are one of two major league teams based in Chicago; the other, the Chicago White Sox, is a member of the American League (AL) Central division. The Cubs, first known as the White Stockings, were a founding member of the NL in 1876, becoming the Chicago Cubs in 1903. Throughout the club's history, the Cubs have played in a total of 11 World Series. The 1906 Cubs won 116 games, finishing 116–36 and posting a modern-era record winning percentage of , before losing the World Series to the Chicago White Sox ("The Hitless Wonders") by four games to two. The Cubs won back-to-back World Series championships in 1907 and 1908, becoming the first major league team to play in three consecutive World Series, an ...
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New York Yankees
The New York Yankees are an American professional baseball team based in the Boroughs of New York City, New York City borough of the Bronx. The Yankees compete in Major League Baseball (MLB) as a member club of the American League (AL) American League East, East division. They are one of two major league clubs based in New York City, the other is the National League (NL)'s New York Mets. The team was founded in when Frank J. Farrell, Frank Farrell and William Stephen Devery, Bill Devery purchased the franchise rights to the defunct Baltimore Orioles (no relation to the current Baltimore Orioles, team of the same name) after it ceased operations and used them to establish the New York Highlanders. The Highlanders were officially renamed the New York Yankees in . The team is owned by Yankee Global Enterprises, a limited liability company that is controlled by the family of the late George Steinbrenner, who purchased the team in 1973. Brian Cashman is the team's general manage ...
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Los Angeles Dodgers
The Los Angeles Dodgers are an American professional baseball team based in Los Angeles. The Dodgers compete in Major League Baseball (MLB) as a member club of the National League (NL) West division. Established in 1883 in the city of Brooklyn, which later became a borough of New York City, the team joined the NL in 1890 as the Brooklyn Bridegrooms and assumed several different monikers thereafter before finally settling on the name Dodgers in 1932. From the 1940s through the mid-1950s, the Dodgers developed a fierce cross-town rivalry with the New York Yankees as the two clubs faced each other in the World Series seven times, with the Dodgers losing the first five matchups before defeating them to win the franchise's first title in 1955. It was also during this period that the Dodgers made history by breaking the baseball color line in 1947 with the debut of Jackie Robinson, the first African-American to play in the Major Leagues since 1884. Another major milestone was reache ...
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