I'm more sick to my stomach & closer to tears after reading this:::
• An increased luxury tax. For the first $5 million over the luxury threshold, a team will pay $1.50 for every dollar over the limit. For the next $5 million over the luxury threshold, team will pay $1.75 for every dollar over. For the next $5 million over the luxury threshold, team will pay $2.50 for every dollar over. For the next $5 million over the luxury threshold, team will pay $3.25 for every dollar over. For every $5 million after $20 million, the tax increases 50 cents: $3.50, $4, $4.50, etc.
Teams also face a stiffer tax for exceeding the luxury tax threshold more than three times in any five-year period. A dollar will be added to the above numbers if that happens so that $1.50 becomes a $2.50 tax, $1.75 becomes $2.75, $2.50 becomes $3.50 and $3.25 becomes $4.25.
:::than I was reading about the Penn State Fiasco particulars.