CONTRACT FINALIZED!!!

[George Cantstandya]

(09-08-2023, 05:57 PM)BFritz21 Wrote: I'm not saying he'll be struggling or anything, but, between taxes, his agent's cut, and whatever else, I wonder what his actual take home amount from that 275 million will be.

Agent cut on NFL contracts is max 3% per the NFLPA.   So if his agent got the max of 3% that would at most be $8.25 million.  The bigger chunk taken out will of course be taxes.

[BFritz21]

(09-08-2023, 06:04 PM)George Cantstandya Wrote: Agent cut on NFL contracts is max 3% per the NFLPA.   So if his agent got the max of 3% that would at most be $8.25 million.  The bigger chunk taken out will of course be taxes.

I know that agent's can't take that much but I was just lumping it in with everything. I think taxes are something like 40% (maybe more) and then he also has to pay a state's income tax in the state of the game for his game check.

Just wondering how much take-home money he'd actually get from this contract.

[KillerGoose]

(09-08-2023, 06:36 PM)BFritz21 Wrote: I know that agent's can't take that much but I was just lumping it in with everything. I think taxes are something like 40% (maybe more) and then he also has to pay a state's income tax in the state of the game for his game check.

Just wondering how much take-home money he'd actually get from this contract.

After taxes, Joe would take home $153MM with the current federal and Ohio tax rates. That is if he received all of this money right now. Tax rates change yearly, so the final value will be different but in that ballpark. 

[jj22]

It is kinda surprising the backlash this deal caused amongst Bengals fans on social media. Burrow was never taking a team friendly deal to keep the weapons together.

Everyone points to Brady but they don’t tell the whole story. Brady took less pay and the PATS still let players go and didn’t keep his wideouts or those defensive stars of the 00’s. The untold truth is Brady was bamboozled and no one else will ever fall for that trap again.

[George Cantstandya]

(09-08-2023, 06:36 PM)BFritz21 Wrote: I know that agent's can't take that much but I was just lumping it in with everything. I think taxes are something like 40% (maybe more) and then he also has to pay a state's income tax in the state of the game for his game check.

Just wondering how much take-home money he'd actually get from this contract.

Probably take home around 55%.  I think I posted this article before but it shows several pro players and their take home salary as well as effect tax rates:

https://www.gobankingrates.com/net-worth/sports/how-much-star-athletes-pay-in-taxes/

[BFritz21]

(09-08-2023, 06:46 PM)George Cantstandya Wrote: Probably a round 55%.  I think I posted this article before but it shows several pro players and their effect tax rates:

https://www.gobankingrates.com/net-worth/sports/how-much-star-athletes-pay-in-taxes/

That's taxes but then what about league fees and all that? 

[Bengalion]

(09-08-2023, 06:46 PM)George Cantstandya Wrote: Probably a round 55%.  I think I posted this article before but it shows several pro players and their effect tax rates:

https://www.gobankingrates.com/net-worth/sports/how-much-star-athletes-pay-in-taxes/

Nice source. I feel sad for athletes playing in California. 

[Housh]

(09-08-2023, 10:31 AM)Isaac Curtis: The Real #85 Wrote: Ha! I would, too. But I believe the NEXT deal will be significantly more expensive. Thus, we may not have the ability to pat him $15-$20 mil. 

Even if Chido was all pro no way his next deal is over 12M.

[Housh]

(09-08-2023, 06:46 PM)George Cantstandya Wrote: Probably take home around 55%.  I think I posted this article before but it shows several pro players and their take home salary as well as effect tax rates:

https://www.gobankingrates.com/net-worth/sports/how-much-star-athletes-pay-in-taxes/

That athlete tax is something crazy


Ppl need to understand why players get every cent they can on these contracts


Everytime i see a deal done i cut it in half for this reason

[*TheLeonardLeap*]

(09-08-2023, 06:39 PM)KillerGoose Wrote: After taxes, Joe would take home $153MM with the current federal and Ohio tax rates. That is if he received all of this money right now. Tax rates change yearly, so the final value will be different but in that ballpark. 

Gotta make sure you get a good tax guy to handle deductions and find the good loopholes and such.

[George Cantstandya]

(09-08-2023, 06:50 PM)BFritz21 Wrote: That's taxes but then what about league fees and all that? 

I'm not sure what you mean by league fees. 

[BFritz21]

(09-08-2023, 07:06 PM)George Cantstandya Wrote: I'm not sure what you mean by league fees. 

NFLPA and all that.

I didn't know about anything else but figured there had to be more expenses coming out of that number (not personal).

If not much more, then great, but that's still a big chunk of money.

[George Cantstandya]

(09-08-2023, 07:09 PM)BFritz21 Wrote: NFLPA and all that.

I didn't know about anything else but figured there had to be more expenses coming out of that number (not personal).

If not much more, then great, but that's still a big chunk of money.

Good question about the NFLPA.  I imagine it isn't much especially compared to a $275 million dollar contract.  I did some searching around to try and find more info on dues.  I found this:

https://nflpa.com/posts/nfl-players-have-ownership-in-the-business-of-football

Quote:One thing we stress with our player reps is the importance of this revenue stream as a way to remain financially independent as a union. While most unions run their operations off of member dues, we have the ability to save those dues towards a strike/lockout fund and rely on the revenue generated from our marketing and licensing business to operate the day-to-day of our union.

Quote:However, the real value in our business is our ability to not have to depend on player dues to run our operations, to leverage the valuation of our rights into having a seat at the table with sponsors, and in helping to lift all athletes to both realize and maximize their value.

But then I found this as part of the CBA under Union Security:

https://overthecap.com/collective-bargaining-agreement/article/47

Quote:

---

• Section 1. Union Security
  Every NFL player has the option of joining or not joining the NFLPA; provided, however, that as a condition of employment commencing with the execution of this Agreement and for the duration of this Agreement and wherever and whenever legal; (a) any active player who is or later becomes a member in good standing of the NFLPA must maintain his membership in good standing in the NFLPA; and (b) any active player (including a player in the future) who is not a member in good standing of the NFLPA must, on the 30th day following the beginning of his employment or the execution of this Agreement, whichever is later, pay, pursuant to Section 2 below or otherwise to the NFLPA, an annual service fee in the same amount as any initiation fee and annual dues required of members of the NFLPA.
• Section 2. Check-off
  Commencing with the execution of this Agreement, each Club will check-off the initiation fee and annual dues or service charge, as the case may be, in equal weekly or biweekly installments from each preseason and regular season pay check, beginning with the first pay check after the date of the first preseason squad cutdown, for each player for whom a current check-off authorization (copy attached hereto as Appendix M and made a part of this Agreement) has been provided to the Club. The Club will forward the check-off monies to the NFLPA within seven days of the check-off.
  

So yeah I don't know but I can't imagine any NFLPA dues would be a significant amount of any player's contract or the players would certainly have complained about it. 

So as far as Burrow's take home, taxes take the most, then his max 3% agent cut, and then maybe some NFLPA dues.   Either way he's set for his life and that of his future family.  Great for him and glad the team got the contract done.

Edit:  Wanted to add this regarding any NFLPA player dues, probably just a Hyundai.  

[*jason*]

(09-08-2023, 06:46 PM)jj22 Wrote: It is kinda surprising the backlash this deal caused amongst Bengals fans on social media. Burrow was never taking a team friendly deal to keep the weapons together.

Everyone points to Brady but they don’t tell the whole story. Brady took less pay and the PATS still let players go and didn’t keep his wideouts or those defensive stars of the 00’s. The untold truth is Brady was bamboozled and no one else will ever fall for that trap again.

Mahomes walked right into it.

[TKUHL]

Pretty cool that they signed him on Paul Browns birthday. And the fact that they waited till the Chiefs game was starting. Love it.

[*Nate (formerly eliminate08)*]

(09-08-2023, 08:06 PM)TKUHL Wrote: Pretty cool that they signed him on Paul Browns birthday. And the fact that they waited till the Chiefs game was starting. Love it.

Didn't know yesterday was PB's Birthday, that is cool. 

[*pally*]

(09-08-2023, 08:06 PM)TKUHL Wrote: Pretty cool that they signed him on Paul Browns birthday. And the fact that they waited till the Chiefs game was starting. Love it.

They've agreed to the deal but I don't think it is signed yet.  It wasn't released on the transaction report.  I thought he would today but it didn't happen so it will probably be tomorrow before they get on the plane for Cleveland

[jfkbengals]

(09-08-2023, 09:00 PM)pally Wrote: They've agreed to the deal but I don't think it is signed yet.  It wasn't released on the transaction report.  I thought he would today but it didn't happen so it will probably be tomorrow before they get on the plane for Cleveland

I'm with you on that, although there was a big article today about it being signed on PB's birthday.  I have a feeling it is just as you said, an agreement but no signatures or checks changing hands yet.

[gman657]

Anyone who is pissed with the contract is ********. Tee may have to walk but joe has won without tee and he won when chase was injured last year. He's him.

Seems apt to post one of best hype video I've seen right about now
https://youtu.be/I_nwNJkKoVM?si=xLaR9hajydQTjzMm

[PCB Bengal Fan]

(09-07-2023, 11:20 PM)TheFan Wrote: Yea, because you're basing your opinion on people like Colin Cowherd like a turd. Palmer and Dalton both played behind great lines. Palmer was a great QB who got derailed by fluke injuries like a torn ACL, which wasn't the faul of Oline, and an elbow injury. Dalton was a slightly above average QB who got propped up with good weapons and a great Oline. 

Bengals are in the top half of the league in playoff appearances since 2000, before Burrow was even drafted.

Top half of the league with zero playoff wins? Nope. Just average.