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


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Stamkos' show me the money poll  

110 members have voted

  1. 1. How much $$$$$ will Stamkos get per year?

    • $8 - 9.9million
      6
    • $10 - 10.9million
      37
    • $11 - 11.9million
      34
    • $12mil or more
      23
  2. 2. How much $$$$$ would YOU pay Stamkos per year? It is safe to assume he gets max deal of 7 years.

    • $8 - 9.9million
      40
    • $10 - 10.9million
      34
    • $11 - 11.9million
      15
    • $12mil or more
      11


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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.

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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.

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


 




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 by WildCard
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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.

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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?

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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 by N'eo
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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.

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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 by Hoss
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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.

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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.

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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.

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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.

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