A Look At What Pro Athletes Take Home After Taxes and Fees

fmdog44

fmdog44

Well-known Member
Location
Houston, Texas
I just gor done watching a show on CNBC called "Back In The Game". It is hosted by former Yankee star Alex Rodriguez. This episode featured pro basketball player
Joe Smith that was paid a contract of 61 million dollars and is now broke and in debt so Alex R helps him to get back on his feet. His real money on his 61 million dollars was broken down in to three categories. After paying his agent (1), his manager(2) and his federal and state taxes(3) that 61 million was cut to 18 million. Granted most of us would not be n his boat if we had 18 million but still 43 million he never sees!?
 

A big reason why most contracts are now "structured"; e.g., paid over several years, only so much guaranteed, et. al.

If you win a multi-million dollar lottery and take the immediate cash amount, don't expect more than 40-45% of the big flashing number!
 
rkunsaw said:
Pro athletes get paid huge amounts because they are good at what they do.

I'm good at what I do too but I don't get paid for it.

That must be the reason everyone tells me I'm good for nothing.
Click to expand...
When I was young I was good for nothing, still am!!
 
Pro athletes are way over-paid. A good heart specialist may bull down a million or two a year, while a good shortstop with the Yankees could make 20 times that amount. Now, I ask you, if you had to have a heart transplant, who would you like to have do it, the shortstop or the heart specialist?
 
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