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

[LTS]

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.

 

You might find this interesting... punch in $12M AAV for Buffalo and check the net amount differences to Tampa.

[MattPie]

I can at least get it started:

 

2015--Brad Richards, Mike Green

2014--Brad Richards, Jarome Iginla

2013--Daniel Alfredsson, Mark Mancari

2012--Jaromir Jagr?  Not a big year.

 

2007: Drury and Briere? :(

 

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.

 

When I traveled for work, there was a question in the expense reporting system that ask (paraphrasing) "do you expect to work in this state for more than 30 days on the same project this calendar year?" for tax reasons. Other than maybe playoffs (where the players don't actually get paid), I doubt any state would meet those characteristics. That being said, maybe sports are different.

[Eleven]

2007: Drury and Briere? :(

 

 

When I traveled for work, there was a question in the expense reporting system that ask (paraphrasing) "do you expect to work in this state for more than 30 days on the same project this calendar year?" for tax reasons. Other than maybe playoffs (where the players don't actually get paid), I doubt any state would meet those characteristics. That being said, maybe sports are different.

 

Sports and entertainment are different.  Stamkos gets a break on the 41 home games he plays in Tampa plus either 2 or 3 at Florida.

Edited June 30, 2016 by Eleven

[LastPommerFan]

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.

 

Toronto is actually lower, and Buffalo is only $2.5M advantage over Tampa. http://www.tsn.ca/polopoly_fs/1.517591!/httpFile/ss-calc.html

[nfreeman]

Toronto is actually lower, and Buffalo is only $2.5M advantage over Tampa. http://www.tsn.ca/polopoly_fs/1.517591!/httpFile/ss-calc.html

 

Thanks.  Again, though, the extra year needs to be considered -- that's probably at least another $5MM for NYS.

[...]

Are we factoring in that he actually has to play that extra year to make the extra year factor work?

[nfreeman]

Are we factoring in that he actually has to play that extra year to make the extra year factor work?

 

Well yes -- I am assuming that he would be worth at least $5MM as a 33-year-old.  I recognize that this is a questionable assumption -- but I can also see him getting more than that per year on a short-term deal.

[LTS]

Thanks.  Again, though, the extra year needs to be considered -- that's probably at least another $5MM for NYS.

 

Not sure what you are getting at... the extra year is calculated into the overall contract value and total taxes paid.

[nfreeman]

Not sure what you are getting at... the extra year is calculated into the overall contract value and total taxes paid.

 

Right, but my point is that he gets $68MM for 8 years from TB, less taxes, as opposed to $84MM for 7 years from Buffalo/Toronto, less taxes.  So, if we are determining the best economic move from Stamkos' perspective, we have to remember that the Buffalo/Toronto deal would be 7 years, after which he'd be able to sign another contract under which he'd be paid additional amounts for that 8th year. 

 

The calculator that WBOE linked to compared the 7-year Buffalo/Toronto deals to the 8-year TB deal -- not the 7-year Toronto/Buffalo deals plus a hypothetical 8th year.

[LTS]

Right, but my point is that he gets $68MM for 8 years from TB, less taxes, as opposed to $84MM for 7 years from Buffalo/Toronto, less taxes.  So, if we are determining the best economic move from Stamkos' perspective, we have to remember that the Buffalo/Toronto deal would be 7 years, after which he'd be able to sign another contract under which he'd be paid additional amounts for that 8th year. 

 

The calculator that WBOE linked to compared the 7-year Buffalo/Toronto deals to the 8-year TB deal -- not the 7-year Toronto/Buffalo deals plus a hypothetical 8th year.

 

Ahh I see what you are getting at.  The additional revenue from the 8th year he would get signing the "NEXT" contract.

 

Fair enough. 

[Hoss]

Bill Hoppe @BillHoppeNHL

Sabres met Stamkos on Sunday.

[Brawndo]

 

 

The thought here is Toronto and Its Mega Pitch possibly overwhelmed Stamkos.

 

http://m.torontosun.com/2016/07/09/did-the-leafs-pitch-overwhelm-stamkos

[beerme1]

The thought here is Toronto and Its Mega Pitch possibly overwhelmed Stamkos.

 

http://m.torontosun.com/2016/07/09/did-the-leafs-pitch-overwhelm-stamkos

 

 

Then why didn't we get him?

[Brawndo]

Tampa was still the best fit in his eyes.

[TrueBlueGED]

The thought here is Toronto and Its Mega Pitch possibly overwhelmed Stamkos.

 

http://m.torontosun.com/2016/07/09/did-the-leafs-pitch-overwhelm-stamkos

Shouldn't Steve Simmons be investigating the hot dog vendors for evidence Kessel was there?

[LGR4GM]

So now that this is a year old, how do we feel by not getting Stamkos?

[Derrico]

I know he was hurt again but for 8.5 per and his ability I would sign up for that deal.

[LGR4GM]

I know he was hurt again but for 8.5 per and his ability I would sign up for that deal.

I would guess Buffalo would have had to pay more, Let's say 9.5million. Would you want Stamkos signed for 6 more years at 9.5million standing here today. 

[WildCard]

So now that this is a year old, how do we feel by not getting Stamkos?

Feel the same way as when this was started. His leg was a huge concern for the anti-Stamkos camp, and it was proven a valid one

[inkman]

I would guess Buffalo would have had to pay more, Let's say 9.5million. Would you want Stamkos signed for 6 more years at 9.5million standing here today.

You aren't going to get ROR, Eichel, Okposo, Reinhart, Risto and Stamkos under the cap without fielding the remaining roster with ECHL players.

[Winston]

You aren't going to get ROR, Eichel, Okposo, Reinhart, Risto and Stamkos under the cap without fielding the remaining roster with ECHL players.

Stammer would have been in lieu of Okposo. But I'm confident he would have made 3-4million more per year than we're paying Okposo. Would I swap Okposo plus 3.5M a year for a healthy Stamkos? Probably for the near term, but the way things shook out leave it undoubtably easier to fill out the team once extensions are handed out.

[DirtDart]

Stammer would have been in lieu of Okposo. But I'm confident he would have made 3-4million more per year than we're paying Okposo. Would I swap Okposo plus 3.5M a year for a healthy Stamkos? Probably for the near term, but the way things shook out leave it undoubtably easier to fill out the team once extensions are handed out.

Good point. I am always weary of signing these elite guys that have had injury issues. There is no way we would be able to fit all of these guys under the cap as mentioned above.

[Huckleberry]

Was thinking during the season when he went down again, thank god we didn't give him that mega contract.

[TrueBlueGED]

I would love to have him at his current cap hit (which, of course, he wouldn't have left Tampa for). I remain incredibly happy we don't have him at the $10M+ cap hit the majority of voters would have given him.

[Weave]

I would love to have him at his current cap hit (which, of course, he wouldn't have left Tampa for). I remain incredibly happy we don't have him at the $10M+ cap hit the majority of voters would have given him.

Well, aren't you smug for not getting him at a lesser cap hit than what the others didnt get him for. :p