Confirmed with Link: Leafs re-sign Justin Holl -- 3 years 2M AAV

[Al14]

no one can complain about this

I know that its a small number and a small term, but its still an overpayment.

Apparently not.

 

[Rare Jewel]

He's earned it.

In some line up projections it's right about where I had it. $1.9m was the most recent.

 

[Big Muddy]

If he nets $4M, he can invest the in a 5% GIC, he'll make about $200K a year, for life. Pretty sweet.

When he hits 70 1/2 years of age, he'll need to do his "required minimum distribution (RMD)". Interest earned in RRSP are tax deferred until RMDs kick in, then he'll pay tax on the distribution income. Still, if he invests wisely, and keeps expense at a reasonable level, he'll be OK.

 

[Duffman955]

That's a steal for capable defensemen

Worst case hes a #6 and overpaid by 0.5mil

Best case hes a #3/4 and hes heavily underpaid

 

[taurine330]

good deal for both sides.

he’s far from set for life. He will be lucky to take home half of that. And spent over 50-60yrs. He would have to be rather conservative and have a very good roi

What? Not set for life with 3 million? What kind of regular person earns that much?

 

[Bluelines]

The article lacks consistency though, talking about Canadian taxes and Chicago and NY rents.
And 24% is after all expenses on a $1mm contract, and some of those amounts quoted are higher than necessary.
You don't double your expense because you double your contract, fixed costs are fixed costs, not based on how much you make.

The more you make the more you spend. I guess its more of a guideline than a hard and fast rule, everyone spends differently, everyone saves differently, every one has different living costs.

If I made 2 mil per year, I would probably have 15 cars vs the 3 I have now, I'd have 3 or 4 houses, etc..

 

[Magic Man]

I can't say they're wrong to do this. If he continues like this until the end of the season he's probably worth more per year. Ceci hasn't panned out and will be gone at season's end and Barrie probably won't re-sign. The Leafs needed to keep Holl at a smaller price to keep a capable right hander in the fold. In a couple years I am really curious to see how this looks considering how small Holl's sample size of impressive play is.

 

[Rare Jewel]

Ideally I'd like to see him on the 3rd pair when this D-core hopefully rounds out.

Yeah it'll be interesting where he will fit.

But as far style goes, I think he's the best fit currently for Rielly and have wanted to see it for a while now.

 

[uncleben]

Holl has been such a genuine surprise.

Fingers crossed he can keep it up for 3 years, but low risk, I like it!

 

[Nylander88]

So happy for Holl, he deserved it. Good deal for both team and player. He's been playing as a #4 with Muzzin for the better part of the season. Hopefully we can get Muzz signed at a reasonable price and the 2 can continue to build chemistry and form a big bodied, shut down pairing. Ceci can walk after the season and Barrie needs to come way down on his reported ask.

 

[likecheese]

100% correct. They would shelter the heck out of the money given that they will not be making that much money when they are done playing.

On top of all of this, players are paid in US dollars and they get back a good portion of their escrow. Whomever wrote that article is not living in real life. How do the rest of us peasants live on middle-class income???

And as the other poster pointed out, they don't pay rent like you and I pay rent, you buy and sell a property properly and it's probably a net gain in the end. And what kind of crack habit must you have to spend $3000/mth on entertainment? What an embarrassing article.

 

[Big Muddy]

This article is absolutely ludicrous:
1) $50,000 a year in rent and utilities? What idiot would pay that? Maybe towards a mortgage, otherwise find somewhere cheaper.
2) 25,000$ a year in car costs?? Or you could drive a 5 year old Toyota Corolla that costed you 10,000$ and you keep it for 5 years. And then pay 200-300 a month on insurance. And then some gas.
3) $3000 a month on food? And $3000 in entertainment??? I can respect more money on food because you need maximal nutrition but you can easily get that on $1000. And $3000 on entertainment??? How about $300. My goodness gracious.

This article absolutely wreaks of high end privilege. How about be an adult, think about your future and save/invest accordingly. I save about 20 percent of my income a year for my future: it’s not hard - be an adult and delay gratification.

If you are on a 1-year contract for 1 million and you don’t know your future, you save every penny you can, until you get a long-term contract. This isn’t rocket science.

Agree with what you've said for the most part. But, on the bolded, it depends a lot on where you live. I have a friend in Seattle that pays $2,500 a month rent for an apartment that is just under 450 square feet. If you live in L.A., San Fran, or New York for example, you can easily spend $3 - 4 k per month (or more quite easily) and that's not a fancy or luxurious place you'd be living in by any stretch of the imagination.

 

[ShaneFalco]

Beautiful and would have gone to waste if Babcock was around or a few posters had their way

 

[BertCorbeau]

Great work on locking him up Dubas, showing that he can be a good #5 d-man at least

 

[Bluelines]

This article is absolutely ludicrous:
1) $50,000 a year in rent and utilities? What idiot would pay that? Maybe towards a mortgage, otherwise find somewhere cheaper.
2) 25,000$ a year in car costs?? Or you could drive a 5 year old Toyota Corolla that costed you 10,000$ and you keep it for 5 years. And then pay 200-300 a month on insurance. And then some gas.
3) $3000 a month on food? And $3000 in entertainment??? I can respect more money on food because you need maximal nutrition but you can easily get that on $1000. And $3000 on entertainment??? How about $300. My goodness gracious.

This article absolutely wreaks of high end privilege. How about be an adult, think about your future and save/invest accordingly. I save about 20 percent of my income a year for my future: it’s not hard - be an adult and delay gratification.

If you are on a 1-year contract for 1 million and you don’t know your future, you save every penny you can, until you get a long-term contract. This isn’t rocket science.

I spend like a drunken sailor on shore leave and was able to put away 17.84% of my yearly income as retirement savings, not to mention my return on my investments, not to mention I contribute to a rainy day fund. Enjoying the fruits of your labor now, has nothing to do with being an adult. There are things I wont be able to do when I'm older, why save money, that I wont be able to spend the way I want to spend it, so I'm doing them now and if its cost me some money for a life experience, giddy up.

$200-$300 a month on insurance for a Corolla? I have 3 vehicles and a quad and I pay less than $300 each month for all four.

This isn't rocket science, there is more than one way to live a life

 

[crump]

Holl of a deal.

 

[The Hanging Jowl]

Talk about working your ass off, always being written off, and now you're financially set for life.

Gotta love that for the guy.

Set for life? 3 years at $2M after taxes, agents fees, escrow, whatever he spends doesn't do that for a young man. Gives him a great start though.

 

[saltming]

Did dubas overpay again? I need to hear from the experts.

 

[Bluebear]

The more you make the more you spend. I guess its more of a guideline than a hard and fast rule, everyone spends differently, everyone saves differently, every one has different living costs.

If I made 2 mil per year, I would probably have 15 cars vs the 3 I have now, I'd have 3 or 4 houses, etc..

houses would be a great investment though, if you bought the houses you could get away with pissing away the money on the cars.

 

[The Hanging Jowl]

If he nets $4M, he can invest the in a 5% GIC, he'll make about $200K a year, for life. Pretty sweet.

Net $4M from a $6M contract? Taxes alone will be just over half. Add in escrow, agent fees and whatever he wants to spend over those three years, if he has a million in the bank after this contract he will have done well.

And where are you getting these 5% GICs? Because I have some money for you if you can find them for me. Best I can find right now is 2.2%. What do you say I give you 1% once you find me a 5% GIC?

 

[ponder]

Awesome, great price! He was a pending UFA, and has been playing great all year long, would have got $3 mil AAV easily on the open market IMO.

He’s better than Zaitsev ever was, and we gave Zaitsev $4.5 mil AAV for 7 years.

 

[DatSnipeMatthews]

I spend like a drunken sailor on shore leave and was able to put away 17.84% of my yearly income as retirement savings, not to mention my return on my investments, not to mention I contribute to a rainy day fund. Enjoying the fruits of your labor now, has nothing to do with being an adult. There are things I wont be able to do when I'm older, why save money, that I wont be able to spend the way I want to spend it, so I'm doing them now and if its cost me some money for a life experience, giddy up.

$200-$300 a month on insurance for a Corolla? I have 3 vehicles and a quad and I pay less than $300 each month for all four.

This isn't rocket science, there is more than one way to live a life

Delaying gratification is related to self-control, and is absolutely a symptom of being an adult. Children do what they want in the moment; adults think about the future. Impulsivity is one of the most detrimental characteristics to have

That's great that you were able to spend like a drunken sailor and still save 17.84% of your income. That would be the exception. I save/invest 20% but am intentional about my money, I even have monthly hours long budget meetings with my wife.

I'm likely younger than you and live in Alberta. I pay 200$ a month in insurance for a corolla. It sucks.

 

[Throw More Waffles]

Approximate market value. Not a good deal or a bad deal.
It’s fine.

I mean... the guy has been a competent nhl player for about 2 months of his life, and he’s 27.

2 months of competent play gets you $6 million, at approximate market value. What a weird league.

 

[Once]

OnLy OnE DmAn SiGnEd ThRoUgH NeXt YeAr.

 

[Nylanderthal]

Any expansion draft implications?
Wonder if JH might be exposed and of interest to Seattle?

Good call, this pretty much makes him the piece we’re going to lose to Seattle. Rielly Dermott + whoever re-signs between, or fills the salary slots of Muzzin/Barrie will likely be the third D man