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Jerry Reinsdorf
Jerry Michael Reinsdorf (born February 25, 1936) is an American sports executive and businessman who is the owner of the NBA's Chicago Bulls and MLB's Chicago White Sox. He started his professional life as a tax attorney with the Internal Revenue Service. He has been the owner of the White Sox and Bulls for nearly 40 years. As of May 2024, his net worth was estimated at US$2.2 billion. He made his initial fortune in real estate, taking advantage of the '' Frank Lyon Co. v. United States'' decision by the United States Supreme Court, which allowed economic owners of realty to sell property and lease it back, while transferring the tax deduction for depreciation to the title owner. As the owner and chairman of the Chicago Bulls since 1985, he oversaw a turnaround in the franchise's fortunes, culminating in six NBA Championships in the 1990s (1991–1993 and 1996–1998). He is controversial for his involvement (along with Jerry Krause) in breaking up the championship team b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chicago Bulls
The Chicago Bulls are an American professional basketball team based in Chicago. The Bulls compete in the National Basketball Association (NBA) as a member of the Central Division of the Eastern Conference. The team was founded on January 16, 1966, and played its first game during the 1966–67 NBA season. The Bulls play their home games at the United Center, which they share with the National Hockey League's Chicago Blackhawks; both teams previously played at the now-demolished Chicago Stadium. The Bulls saw their greatest success during the 1990s when they played a major part in popularizing the NBA worldwide. They are known for having one of the NBA's greatest dynasties, winning six NBA championships between 1991 and 1998 with two three-peats. All six of their championship teams were led by Hall of Famers Michael Jordan, Scottie Pippen, and coach Phil Jackson. The Bulls are the only NBA franchise to win multiple championships while never losing an NBA Finals series i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Deduction
A tax deduction or benefit is an amount deducted from taxable income, usually based on expenses such as those incurred to produce additional income. Tax deductions are a form of tax incentives, along with exemptions and tax credits. The difference between deductions, exemptions, and credits is that deductions and exemptions both reduce taxable income, while credits reduce tax. Above and below the line Above and below the line refers to items above or below adjusted gross income, which is item 37 on the tax year 2017 1040 tax form. Tax deductions above the line lessen adjusted gross income, while deductions below the line can only lessen taxable income if the aggregate of those deductions exceeds the standard deduction, which in tax year 2018 in the U.S., for example, was $12,000 for a single taxpayer and $24,000 for married couple. Limitations Often, deductions are subject to conditions, such as being allowed only for expenses incurred that produce current benefits. Capital ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Revenue Sharing
Revenue sharing is the distribution of revenue, the total amount of income generated by the sales, sale of goods and services among the stakeholder (corporate), stakeholders or Benefactor (law), contributors. It should not be confused with profit shares, in which scheme only the Profit (accounting), profit is shared, i.e., the revenue left over after costs have been removed, nor with stock shares, which may be bought and sold and whose value may fluctuate. Revenue shares are often used in industries such as game development, wherein a studio lacks sufficient capital or investment to pay upfront, or in instances when a studio or company wishes to share the risks and rewards with its team members. Revenue shares allow the stakeholders to realize returns as soon as revenue is earned before any costs are deducted. Revenue sharing in Internet marketing is also known as pay per sale, cost per sale, in which the cost of advertising is determined by the revenue generated as a result of th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Salary Cap
In professional sports, a salary cap (or wage cap) is an agreement or rule that places a limit on the amount of money that a team can spend on players' salaries. It exists as a per-player limit or a total limit for the team's roster, or both. Several sports leagues have implemented salary caps (mostly closed leagues), using them to keep overall costs down, and also to maintain a competitive balance by restricting richer clubs from entrenching dominance by signing many more top players than their rivals. Salary caps can be a major issue in negotiations between league management and players' unions because they limit players' and teams' ability to negotiate higher salaries even if a team is operating at significant profits, and have been the focal point of several strikes by players and lockouts by owners and administrators. Adoption Salary caps are used by the following major sports leagues around the world: * North America ** The National Basketball Association, National Foot ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Labor Union
A trade union (British English) or labor union (American English), often simply referred to as a union, is an organization of workers whose purpose is to maintain or improve the conditions of their employment, such as attaining better wages and Employee benefits, benefits, improving Work (human activity), working conditions, improving safety standards, establishing complaint procedures, developing rules governing status of employees (rules governing promotions, just-cause conditions for termination) and protecting and increasing the bargaining power of workers. Trade unions typically fund their head office and legal team functions through regularly imposed fees called ''union dues''. The union representatives in the workforce are usually made up of workplace volunteers who are often appointed by members through internal democratic elections. The trade union, through an elected leadership and bargaining committee, bargains with the employer on behalf of its members, known as t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rate Field
Rate Field (formerly named Comiskey Park, U.S. Cellular Field and Guaranteed Rate Field) is a baseball stadium located on the South Side, Chicago, South Side of Chicago, Illinois. It is the home ballpark of Major League Baseball's Chicago White Sox, one of the city's two MLB teams, and is owned by the state of Illinois through the Illinois Sports Facilities Authority. Completed at a cost of US$137 million, the park opened as Comiskey Park on April 18, 1991 Chicago White Sox season, 1991, taking its name from the Comiskey Park, original Comiskey Park, the team's home since 1910 Chicago White Sox season, 1910. Rate Field is situated just to the west of the Dan Ryan Expressway in Chicago's Armour Square, Chicago, Armour Square neighborhood, adjacent to the more famous neighborhood of Bridgeport, Chicago, Bridgeport. The stadium was built directly across 35th Street from the original Comiskey Park, which was demolished to make room for a parking lot for the new venue. The location of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Comiskey Park
Comiskey Park was a ballpark in Chicago, Illinois, located in the Armour Square neighborhood on the near-south side of the city. The stadium served as the home of the Chicago White Sox of the American League from 1910 through 1990. Built by White Sox owner Charles Comiskey and designed by Zachary Taylor Davis, Comiskey Park hosted four World Series and more than 6,000 Major League Baseball games. The field also hosted one of the most famous boxing matches in history: Joe Louis' defeat of champion James J. Braddock, launching his 11-year run as the heavyweight champion of the world. The Chicago Cardinals of the National Football League also called Comiskey Park home when they were not playing at Normal Park, Soldier Field, or Wrigley Field. They won the 1947 NFL Championship Game over the Philadelphia Eagles at Comiskey Park. Much less popular than the Bears, the Cardinals had their last season at Comiskey in 1958, and they left for St. Louis in March 1960. The Chicago ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Series
The World Series is the annual championship series of Major League Baseball (MLB). It has been contested since between the champion teams of the American League (AL) and the National League (NL). The winning team, determined through a best-of-seven playoff (except in 1903 and from 1919–1921, when a best-of-nine format was used), is awarded the Commissioner's Trophy. The series is traditionally played in October, although before expansion of the regular-season schedule from 154 to 162 games the event occasionally started in late September (most recently in ) and the entire series took place early in that month due to the World War I "Work or Fight" order forcing an early end to that year's regular season, while some more recent editions have been contested into November due to in-season delays and expansion of earlier postseason rounds. Because the series is played in the fall or autumn season in North America, it is often referred to as the Fall Classic. Before the A ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Center
The United Center is an indoor arena on the Near West Side, Chicago, Near West Side of Chicago, Illinois. It is home to the Chicago Bulls of the National Basketball Association (NBA) and the Chicago Blackhawks of the National Hockey League (NHL). It is named for its corporate sponsor United Airlines. With a capacity of nearly 21,000, the United Center is the List of National Basketball Association arenas, largest arena by capacity in the NBA, and List of National Hockey League arenas, second largest arena by capacity in the NHL. It also has a seating capacity of 23,500 for concerts. Opened in 1994, the United Center replaced the West Side's Chicago Stadium ("the madhouse on Madison"), which was opened in 1929 and located across the street from the center. It is owned by the Reinsdorf and Wirtz families, owners of the teams that use the arena, and which also own much of the surrounding land. The first event held at the arena was SummerSlam (1994), WWF SummerSlam, and it hosts hund ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chicago Stadium
Chicago Stadium was an indoor arena in Chicago from 1929 to 1995. When it was built, it was the largest indoor arena in the world with a maximum seating capacity of 26,000. It was the home of the National Hockey League's Chicago Blackhawks and the National Basketball Association's Chicago Bulls. It was used for numerous other sporting events, opening with a championship boxing match in March 1929. In sports, it gained the nickname, the "Madhouse on Madison", and a feature during events was the playing of the largest Barton pipe organ ever built. It also hosted five United States presidential nominating conventions, including for Franklin D. Roosevelt, and for his opponents in 1932 and 1944. The Stadium was built by Paddy Harmon, a promoter, who sank his entire fortune into the project, only to lose control to the Stadium shareholders. After exiting receivership in 1935, the Stadium was owned by the Norris and Wirtz families until its closure in 1994 and demolition in 1995. It ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Michael Jordan
Michael Jeffrey Jordan (born February 17, 1963), also known by his initials MJ, is an American businessman and former professional basketball player, who is currently a minority owner of the Charlotte Hornets of the National Basketball Association (NBA). He played 15 seasons in the NBA between 1984 and 2003, winning six NBA championships with the Chicago Bulls. He was integral in popularizing basketball and the NBA around the world in the 1980s and 1990s,Markovits and Rensman, p. 89. becoming a global cultural icon. Jordan played college basketball with the North Carolina Tar Heels men's basketball, North Carolina Tar Heels. As a freshman, he was a member of the Tar Heels' national championship team in 1982 NCAA Division I men's basketball tournament, 1982. Jordan joined the Bulls in 1984–85 NBA season, 1984 as the third overall draft pick and quickly emerged as a league star, entertaining crowds with his prolific scoring while gaining a reputation as one of the best defe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Phil Jackson
Philip Douglas Jackson (born September 17, 1945) is an American former professional basketball player, coach, and executive in the National Basketball Association (NBA). Jackson is a 13-time NBA champion, having won two as a player and 11 as a head coach. His 11 championships as a head coach is the most in NBA history. In 2007, Jackson was inducted into the Basketball Hall of Fame, and was named one of the 10 greatest coaches in league history in 1996. He holds numerous other records as a coach, including the most postseason wins (229), and most conference titles (13). Jackson played college basketball for the North Dakota Fighting Hawks (known then as the Fighting Sioux) for three years, and was selected in the 1967 NBA draft by the New York Knicks, with whom he won two NBA titles as a player. After playing thirteen seasons in the league, he began coaching in international basketball leagues for five years before he was hired as the assistant coach for the Chicago Bulls ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
