Numerous California sports franchises, including the Giants, A's, Sharks, and Warriors, have contributed $25,000 each to the Yes on 1A campaign, according to Matier & Ross. Lew Wolff, who gave a few quotes to M&R, also gave $25k of his own money to the cause. Also on board are Anheuser Busch and Philip Morris.
It's clear that in supporting 1A, they are looking out for their own interests. To bridge the budget gap, the state may look towards taxing tickets, food and beverage, parking, anything related to running a franchise. Anchutz Entertainment Group, the giant stadium and arena operator, could become a big time loser if such taxes pass.
While it makes sense that these contributors would back 1A over taxes on their own operations, these two issues aren't mutually exclusive. 1A isn't guaranteed to fix the budget, especially if future state revenue falls short of projections. If that occurs, guess who's next?
I'm curious about the potential revenue the state could raise through a "fun tax." I suspect that while it would affect teams and fans, the proceeds would be a drop in the bucket for the state.
1A and its companion propositions are losing big time, according to Field Poll results from the beginning of the month.
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