Steven Stamkos stays in Tampa Bay, 8.5mil x 8yrs

[IKnowPhysics]

I hope Cooper keeps misusing him out of spite.

[WildCard]

I hope Cooper keeps misusing him out of spite.

I wonder if that came up in the discussions. 

[nfreeman]

Here's a question: since Stammer signed for the same deal that TB offered him months ago, what was the point of the whole soap opera? Was he trying to get TB to increase their offer?

[WildCard]

Here's a question: since Stammer signed for the same deal that TB offered him months ago, what was the point of the whole soap opera? Was he trying to get TB to increase their offer?

I'd bet it was that Cup run they went on without him. They told him 'We don't need you', and they proved it.

[TrueBlueGED]

Here's a question: since Stammer signed for the same deal that TB offered him months ago, what was the point of the whole soap opera? Was he trying to get TB to increase their offer?

 

Didn't McKenzie say last week that the offer was actually $8.5M...but only 5 years? I wonder if this whole thing was about getting those extra 3 years. 

 

If not, I'll just go with Occam's Razor: you only get to be a UFA in your prime once, and he wanted to see what else was really out there for him. He wasn't certain, so why not look? Well he looked, and stayed. Chose the proven contender over the maybe contenders at some undetermined point in the future.

[WildCard]

@FriedgeHNIC  3h3 hours ago

Stamkos contract is bonus-laden. $1M in salary per season, rest in bonuses

 

@FriedgeHNIC  3h3 hours ago

Stamkos breakdown is $9.5 for first five years, not 10.5. Then: 7.5M, 6.5M, 6.5M. As mentioned previously, $1M/ year salary, rest in bonuses

Edited June 30, 2016 by WildCard

[TrueBlueGED]

Odds that bonus structure is one of the things the league goes after in the next lockout? 2:1? Better?

[qwksndmonster]

I'm glad he stayed in Tampa.

 

Those Florida teams are going to be tough battles in the coming years.

[nfreeman]

The bonus structure might've been one of the concessions Stammer was trying to wring from TB.

[SabresBillsFan]

Hell yes this is awesome.

 

I agree. I didn't want him to use us for more money and then sign in Toronto.

[Brawndo]

Not sure if this was mentioned, but good for Stamkos for making the decision today and allowing the teams interested in him to move to Plan B

[Hoss]

LeBrun says Toronto, Buffalo, Montreal and a fourth team got to make pitches to Stamkos. Detroit was not the fourth team, but LeBrun believes they would've gotten a chance had Tampa not got the deal done when they did.

[Huckleberry]

The bonus structure might've been one of the concessions Stammer was trying to wring from TB.

 

this way he keeps more money in his pocket.

[pi2000]

I'm still not happy about it. He would've pushed this team to another level. Think LaFontaine arriving on scene in the early 90’s. Now we have to rely on the likes of Ennid, Moulson, and Girgensons to score on a regular basis just to make up the difference. I'm getting tired of just hoping every year.

[LastPommerFan]

I think athletes pay taxes where they earn the money, so if they are paid for games, they pay taxes where the game was played. 90% of the contract being a bonus that will be paid in Florida means low income taxes on all that income. Can any accountants confirm this?

[Neo]

Here's a simple, old school, thought. I'm glad he stayed in Tampa. I see people wearing their Stamkos jersies and remember back to my youth. When I was a boy, there were times when my heroes were traded. It made me sad. I did not have to deal with the especially wretched thought of "he left for money". I watched teammates compete, pure and simple. There were no mercenaries.

 

A lot of boys and girls made a fist, pumped it back and forth, and said "yessssss", yesterday.

Edited June 30, 2016 by N'eo

[ddaryl]

I respect him for sticking with Tampa. Its about Champioships

[Brawndo]

Friedman reports in his 30 Thoughts that Stamkos visited Buffalo on Sunday and Toronto on Monday.

[LTS]

Here's a question: since Stammer signed for the same deal that TB offered him months ago, what was the point of the whole soap opera? Was he trying to get TB to increase their offer?

 

It's not uncommon for teams to let a free agent test the waters to see where the market is being set and then agree to match that market value.  I would imagine that kind of happened here.  The nuance of the deal seems to align with all the economic analysis on how much Stamkos truly makes based on taxes, etc.

[Hoss]

Friedman reports in his 30 Thoughts that Stamkos visited Buffalo on Sunday and Toronto on Monday.

Friedman said this is what others had said may have happened.

http://www.sportsnet.ca/hockey/nhl/30-thoughts-couldnt-edmonton-montreal-make-deal/

 

Friedman also thinks the forth team that got to make a pitch to Stamkos was San Jose.

Edited June 30, 2016 by Hoss

[PASabreFan]

Friedman reports in his 30 Thoughts that Stamkos visited Buffalo on Sunday and Toronto on Monday.

Was Stamkos in Buffalo reported?

[nfreeman]

It's not uncommon for teams to let a free agent test the waters to see where the market is being set and then agree to match that market value.  I would imagine that kind of happened here.  The nuance of the deal seems to align with all the economic analysis on how much Stamkos truly makes based on taxes, etc.

 

I don't think the bolded is accurate.  Stamkos probably confirmed that Toronto and Buffalo were willing to pay him $12MM x 7 years, and he already knew that TB was willing to pay him $8.5MM x 8 years.  The tax differences between NYS and FLA do not make up for the $16MM difference in total contract value or for the extra year.

[bunomatic]

Also it was reported yesterday ( T.S.N. I think ) that when he met with the leafs there were representatives of a few Canadian companies in the room ready to sign contracts for endorsement deals. Canadian tire being one of them. Not sure how true this is but its what I heard on sportradio. The money he turned down in endorsements alone if he played in Toronto dwarfs the 16 million or so that he lost by signing in Tampa. So he walked away from quite a bit of moolah which is admirable.

[Brawndo]

Follow up with Friedman,he said on the radio this AM the meeting with Buffalo on Sunday was never confirmed.

 

 

“Who were the teams who looked at him? The word was he met in Buffalo on Sunday. That’s never been confirmed. It got out yesterday he met with Toronto on Monday. I believe he met with Montreal.

[Drunkard]

I think athletes pay taxes where they earn the money, so if they are paid for games, they pay taxes where the game was played. 90% of the contract being a bonus that will be paid in Florida means low income taxes on all that income. Can any accountants confirm this?

 

I believe this is true. The bonuses should get taxed at the Florida rate of 0% so he's golden there. He'll still pay Federal Taxes on all of it and state taxes on road games played in other states but only on the $1 million dollar salary, not the bonuses. He's going to make out well but even with the higher taxes he still could've made more money after taxes elsewhere, especially Toronto after the endorsement deals are taken into account.