(08-22-2023, 10:16 AM)Crazyjdawg Wrote: Yep. If someone is making $100,000 per year, they're really only making about $75,000 per year and that's before you think about the pre- and post-tax deductions like healthcare, dental, vision, 401k, HSA, life insurance, AD&D/Critical illness insurance etc.

Out of curiosity, I checked my earning statements and taxes (federal, state, local, FICA, medicare) take up about 16 to 19%, depending on how much I choose to withhold (I recently adjusted my W4 because my second child was born, which lowers my tax burden due to credits) and my deductions like insurance, HSA, 401k etc are about 18 to 20%, depending on how much I send to 401k and HSA accounts.

So I'm only making about 61 to 66% of my annual salary in dollars hitting my bank account and, as you said, Joe has additional fees like his agent fees (which I think are set at 3% of the total contract in the NFL.)

He will also be in the maximum tax bracket for a single filer, which is 37% for everything he makes above $578,125 per year, which will be the majority.

So yea, I think 50% is a pretty reasonable estimate as to what he will make on any contract he signs.

(08-22-2023, 01:07 AM)BFritz21 Wrote: Mods, sorry if this should be in the thread about his extension, but I thought it deserved its own thread because it's not talking about negotiations and whatever. Sorry if it takes any effort to move it (if you need to).

We talk about Burrow's contract and everybody mentions how it's going to be so much money and other people have talked about who will be the NFL's first billionaire, but I was thinking about the taxes, dues, agent's cut, insurance, and whatever else he needs to pay out of his contract.

You realize that, after state and income taxes, a player only takes home about 50% of his pay? Even if that's a low estimate (not by much, maybe off by 5% or so), and that's not even considering paying his agent, NFLPA fees, and whatever else?

Again, I'm not saying that we should feel bad for him, but I'm just saying he's probably only getting 50% of what he signs for, if that.

I know he also has endorsements and whatever, but let's just remember how big of a business the NFL is and think of it in relative terms.

(08-22-2023, 12:41 PM)casear2727 Wrote: I may be wrong, but I'm pretty sure that this is the case with every single professional athlete in the US since taxes and agents became a thing......

(08-22-2023, 12:45 PM)Luvnit2 Wrote: Lamar Jackson saved a ton of money, did not hire an agent.

(08-22-2023, 10:21 AM)Awful Llama Wrote: I wouldn't be surprised if Ticketmaster were to somehow figure out a way to get a cut of Joe's money, too.

(08-22-2023, 12:45 PM)Luvnit2 Wrote: Lamar Jackson saved a ton of money, did not hire an agent.

(08-22-2023, 01:02 PM)HarleyDog Wrote: I think this is smart. Why pay an agent 10% or more if you know what you want and what satisfies you? Heck, all you have to do is read the paper to know what the latest big contract was and then rate yourself accordingly. After all, Lamar is his own brand. All agents do is muddy the waters and in many cases cause disputatiousness between players and their teams. 

(08-22-2023, 01:05 PM)KillerGoose Wrote: This can't be the answer, or more players would simply opt to not have them. Agents will typically do more than just negotiate contracts. They run lead on marketing opportunities and sponsorships as well. They are also more familiar with the intricacies of how to advantageously set up a contract for the players. They definitely provide a benefit for the players. 

(08-22-2023, 01:02 PM)HarleyDog Wrote: I think this is smart. Why pay an agent 10% or more if you know what you want and what satisfies you? Heck, all you have to do is read the paper to know what the latest big contract was and then rate yourself accordingly. After all, Lamar is his own brand. All agents do is muddy the waters and in many cases cause disputatiousness between players and their teams. 

(08-22-2023, 01:37 PM)BengalsLUFC Wrote: Don’t know if it’s the same over there but over here the club pays the taxes, insurance etc.

So if Burrow earns 320 million over the next 6 years chances are minus agent fees he’s going to earn 320 million.

(08-22-2023, 01:05 PM)KillerGoose Wrote: This can't be the answer, or more players would simply opt to not have them. Agents will typically do more than just negotiate contracts. They run lead on marketing opportunities and sponsorships as well. They are also more familiar with the intricacies of how to advantageously set up a contract for the players. They definitely provide a benefit for the players. 

(08-22-2023, 01:36 PM)George Cantstandya Wrote: Agent's take for NFL contacts are capped at a max of 3%.  Agent's can get a higher percent for endorsements.  So he saved max about 7.8 million on the contract.  If he actually saved that much is debatable.  Could an agent have gotten him more money than he negotiated to offeset that 7.8 million savings?  Could an agent have gotten the deal done earlier so his money could be invested earlier to increase his earning on investment?  Who knows but it is a possibility.  Also I have seen some discussions that his lack of an agent is possibly costing him endorsement opportunities.  Don't know if that is true or maybe he just isn't that interested in them. 

(08-22-2023, 01:05 PM)KillerGoose Wrote: This can't be the answer, or more players would simply opt to not have them. Agents will typically do more than just negotiate contracts. They run lead on marketing opportunities and sponsorships as well. They are also more familiar with the intricacies of how to advantageously set up a contract for the players. They definitely provide a benefit for the players.