HC Banik Sokolov – Prostejov
Hockey. Czechia. Chance Liga
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Luxury tax
What is the definition of a luxury tax in hockey?
What is called a luxury tax in hockey?
What does a luxury tax stand for?
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.
The “hard” salary cap of the National Football League and the National Hockey League has prevented any need for a luxury tax arrangement.