Does this mean the Florida Gators will soon be playing off shore?

We suppose it was inevitable but in the never-ending search for revenue, the federal government has leveled it’s sights on collegiate athletics and, in particular, the nation’s largest Division 1-A sports programs.

A Congressional Budget Office report contends that 1-A athletic departments get 60% - 80% of their revenue from activities that can be described as commercial.

The study recommends changing the tax code by limiting the deductions for contributions and the use of tax exempt bonds as well as limiting the exemption from income taxation.

The Wizard of Odds has more, here.

P.S. We thought activities like this were the purview of the Treasury Department. Oh, that's right. They've been having some man power issues over there.