Confirmed Signing with Link: [FLA] F Aleksander Barkov signs extension with Florida (8 years, $10M AAV)

[Weast]

Someone please correct me if I'm wrong, but the reason that most of the money is in a Signing Bonus is so that it gets paid out July 1st. Since Barkov will be in Florida at that payout date, he doesn't pay any taxes on it.

 

[WaitingForThatCab]

The players are taxed for their whole salaries (base salary + signing bonus) if they play for teams which are not located in Florida, Nevada, Tennessee, Texas and Washington.

Base salary are paid during the regular season meanwhile the signing bonus are paid mostly on July 1st. So players in those states with large signing bonuses doesn't pay any state income taxes on them. That's why they can take favorably "discounts".

Yeah, my understanding is that the signing bonus allows them to avoid the whole 'game check' issue. Most US states have a top marginal rate of at least 4% or so. For a guy getting something like 70 million dollars in signing bonus, that winds up being well over two million dollars. If he signed with the Kings, it would be something like $9m. It's certainly not insignificant.

Tampa, FLA, Dallas, Nashville, Las Vegas, and Seattle can and should all take advantage of this.

 

[Perennial]

It's never certain how these contracts will age, but he certainly could've earned more had he hit the market, so for now it looks like a great deal for Florida...

It's just too bad Bobrovsky's 10 million cap hit is hanging around... it could very well prevent Florida from ever maximizing their window of contention with this core

 

[Ryuji Yamazaki]

It's never certain how these contracts will age, but he certainly could've earned more had he hit the market, so for now it looks like a great deal for Florida...

It's just too bad Bobrovsky's 10 million cap hit is hanging around... it could very well prevent Florida from ever maximizing their window of contention with this core

Zito will clean up Tallons mess. He's already knocked everything else out of the park.

 

[Theodore450]

Beautiful, glad he’s coming back

 

[Leaf Fans]

Excellent player!

 

[Bounces R Way]

 

[TheImpatientPanther]

Someone please correct me if I'm wrong, but the reason that most of the money is in a Signing Bonus is so that it gets paid out July 1st. Since Barkov will be in Florida at that payout date, he doesn't pay any taxes on it.

Ya the signing bonuses are taxed lower than actual salary and are buyout proof as well.
Tavares and McDavid benefited a ton from doing things this way to get around the high Canadian taxes

John Tavares Could Save Nearly $12 Million In Taxes On His New Contract

It's never certain how these contracts will age, but he certainly could've earned more had he hit the market, so for now it looks like a great deal for Florida...

It's just too bad Bobrovsky's 10 million cap hit is hanging around... it could very well prevent Florida from ever maximizing their window of contention with this core

Who's your team? Whip up a trade proposal for Bob to your team?
FLA will retain a bit and add some future sweeteners (combo of 2023, 2024 1sts and 2nds etc)

Bob's last 2 yrs open up to modified NTC of 16 teams on no trade list.
His money drops to 6 mil a year as well so that's the year (2024 offseason) he likely gets moved, heavily retained and added incentives

 

[Edgelord]

bout 11.5-12ish IIRC

As a fan of a Canadian team it makes sense to look at the contracts in what their cap hit would be up here. With that in mind he is over paid @11.5-12.

 

[crowi]

As a fan of a Canadian team it makes sense to look at the contracts in what their cap hit would be up here. With that in mind he is over paid @11.5-12.

Similarly to Matthews then, I'm sure you'll agree. After all, one is a great goalscorer and the other on better at virtually anything else.

 

[StreetHawk]

As a fan of a Canadian team it makes sense to look at the contracts in what their cap hit would be up here. With that in mind he is over paid @11.5-12.

Depends. I think Burke and Walsh could both be right about contracts and taxes. Burke looking at it from straight contract no extra stuff being done thus resulting in a big difference in take home pay for the player. Walsh saying that there are things a player can do from a tax perspective to lower the taxable amount, which could also be correct.

only a tax accountant who deals with this stuff can confirm this.

but in the end, nba players, nfl guys, mlb go to where they get paid. Seems to me a lot of nhlers don’t want the microscope of a Canadian market.

Yet I don’t see the same hesitation with playing for the cowboys, steelers, packers, bears, etc? Nor the Red Sox, Yankees, Cubs, through to the Lakers, Celtics, etc.

 

[Edgelord]

Similarly to Matthews then, I'm sure you'll agree. After all, one is a great goalscorer and the other on better at virtually anything else.

I beg to differ, Matthews is better in tight, along the boards, stronger on his skates too.

 

[HyperX]

Id have given Barkov 12x8 and felt great about it, so this is incredible for Florida

taxes definitely play a role in that

 

[D4ngleSZN]

How is Marner getting paid more as a RFA lol

 

[centipede2233]

It's never certain how these contracts will age, but he certainly could've earned more had he hit the market, so for now it looks like a great deal for Florida...

It's just too bad Bobrovsky's 10 million cap hit is hanging around... it could very well prevent Florida from ever maximizing their window of contention with this core

Yeah that’s the elephant in the room. Bobrovsky contract really negates any chance of winning a cup. I know I’m not the only one with this view. Can you think of a Stanley cup winning team with a bad contract over 6 mil AAV, I sure can’t

 

[MikeK]

How did an RFA Marner get a higher payout than a pending UFA Barkov? Toronto sure did themselves no favors with very poor contracts.

Anyway, Barkov is one heck of a player. It's a lot of cheddar for one player, but given the bar that has been set in today's market this is a pretty solid deal for the team. He could have demanded more.

 

[D4ngleSZN]

How did an RFA Marner get a higher payout than a pending UFA Barkov? Toronto sure did themselves no favors with very poor contracts.

Anyway, Barkov is one heck of a player. It's a lot of cheddar for one player, but given the bar that has been set in today's market this is a pretty solid deal for the team. He could have demanded more.

And less years lol

 

[Edgelord]

How is Marner getting paid more as a RFA lol

He really isn't getting paid more. Marner is equiv to points contract in take home.

 

[Ryuji Yamazaki]

He really isn't getting paid more. Marner is equiv to points contract in take home.

Equivalent in points, dogshit in defense.

 

[Kimota]

10 million? I had no idea he was that good.

 

[tny760]

fair deal, east coast kopitar contract basically right? hard to believe he's still just 26 after all these years of being a dead reliable 2-way, PPG player season in-season out

sounds like he's happy there, he's taking home a grip of pay in the state, about as win-win as it gets nowadays, congrats to him

 

[Ryuji Yamazaki]

10 million? I had no idea he was that good.

Start watching da hockey?

 

[Kimota]

Start watching da hockey?

Triggered much?

 

[SeanMoneyHands]

Wow McDavid money.

 

[SeanMoneyHands]

10 million? I had no idea he was that good.

I would say he isn't until he starts winning some cups and Conn Smythes.