It is currently Sat Nov 23, 2024 5:11 pm

View unanswered posts | View active topics


Board index » CHICAGO AND NATIONAL TEAMS » MLB

All times are UTC - 6 hours [ DST ]



Post new topic Reply to topic  Page 1 of 1
  [ 13 posts ] 
  Print view Previous topic | Next topic 
Author Message
Frank Coztansa
 Post subject: Happy Chris Davis Day!
PostPosted: Mon Aug 16, 2021 6:56 pm 
Offline
100000 CLUB
User avatar

Joined: Wed Feb 08, 2006 6:17 pm
Posts: 102657
pizza_Place: Vito & Nick's
Quote:
After 14 years as a Major League slugger, Baltimore Orioles star Chris Davis announced his retirement from baseball on Thursday, leaving the game as a former All-Star and two-time league leader in home runs. But while Davis will no longer take to the diamond, he'll still reap the financial benefits of being a Major Leaguer for a long time to come and become yet another illustration of the perks of deferred payments.

As noted by Spotrac, Chris Davis is set to receive $42 million in deferred payments in a 15-year period from 2023 to 2037 as a residual after-effect of the seven year, $161 million contract he signed with the Orioles in 2016.

After receiving his full $23 million salary in 2022, Davis will earn:

-$9.16 million annually from 2023 to 2025
-$3.5 million from 2026 to 2032
-$1.4 million from 2033 until 2037

At that point, Davis will have turned 51

https://www.cbssports.com/mlb/news/chri ... -payments/

_________________
Joe Orr Road Rod wrote:
It's more fun to be a victim
Caller Bob wrote:
There will never be an effective vaccine. I'll never get one anyway.
Top
 Profile  
 
Regular Reader
PostPosted: Mon Aug 16, 2021 7:02 pm 
Offline
User avatar

Joined: Sun Nov 26, 2006 8:10 pm
Posts: 38609
Location: "Across 110th Street"
Good for him. Just too bad that he apparently didn't have the ability to handle his own money. He should've retained Denis. :D

_________________
There are only two examples of infinity: The universe and human stupidity and I'm not sure about the universe.
Top
 Profile  
 
denisdman
PostPosted: Mon Aug 16, 2021 7:14 pm 
Offline
User avatar

Joined: Thu Jun 22, 2006 3:55 pm
Posts: 33067
Location: Wrigley
pizza_Place: Warren Buffet of Cock
Regular Reader wrote:
Good for him. Just too bad that he apparently didn't have the ability to handle his own money. He should've retained Denis. :D


Yup….Dman would have helped him with the whole risk/reward and time horizons thing. But he seems like he will do just fine. He won’t make as little as me until annually until 2033. :wink:

_________________
Hawaii (fuck) You
Top
 Profile  
 
Regular Reader
PostPosted: Mon Aug 16, 2021 7:20 pm 
Offline
User avatar

Joined: Sun Nov 26, 2006 8:10 pm
Posts: 38609
Location: "Across 110th Street"
:lol: Point taken.

_________________
There are only two examples of infinity: The universe and human stupidity and I'm not sure about the universe.
Top
 Profile  
 
RFDC
PostPosted: Mon Aug 16, 2021 7:22 pm 
Offline
User avatar

Joined: Sun May 11, 2008 4:11 pm
Posts: 57232
Nice deal for both sides. Can the Cubs get Heyward to do something like that

_________________
"He is a loathsome, offensive brute
--yet I can't look away."

Frank Coztansa wrote:
I have MANY years of experience in trying to appreciate steaming piles of dogshit.
Top
 Profile  
 
Regular Reader
PostPosted: Mon Aug 16, 2021 7:39 pm 
Offline
User avatar

Joined: Sun Nov 26, 2006 8:10 pm
Posts: 38609
Location: "Across 110th Street"
RFDC wrote:
Nice deal for both sides. Can the Cubs get Heyward to do something like that

Give him a percentage of the new sports book revenues until 2051.

_________________
There are only two examples of infinity: The universe and human stupidity and I'm not sure about the universe.
Top
 Profile  
 
good dolphin
PostPosted: Tue Aug 17, 2021 7:56 am 
Offline
User avatar

Joined: Thu Feb 17, 2005 2:35 pm
Posts: 82220
why do reporters continue to advance the narrative that deferred payments are good for the worker?

You can have all your money now, or you can have that same amount a little bit at a time allowing me to earn the interest on your money.

Any deferred contract payment day should be called Jerry Reinsdorf day, the creator of such contracts in baseball. Do you think JR created the method because he wanted to help the players?

_________________
O judgment! Thou art fled to brutish beasts,
And men have lost their reason.
Top
 Profile  
 
Frank Coztansa
PostPosted: Tue Aug 17, 2021 9:26 am 
Offline
100000 CLUB
User avatar

Joined: Wed Feb 08, 2006 6:17 pm
Posts: 102657
pizza_Place: Vito & Nick's
Taxes on a lump sum could be brutal.

It could be that Davis genuinely wants to help the O's, and deferring money can help with payroll and expenses.

He's made $23 million every year since 2016. He'll get $22 million next year. He also has three young girls so as they get to their teens he'll have money rolling in to pay for basically whatever college they want to attend. I get your point, but's Davis will be fine.

_________________
Joe Orr Road Rod wrote:
It's more fun to be a victim
Caller Bob wrote:
There will never be an effective vaccine. I'll never get one anyway.
Top
 Profile  
 
RFDC
PostPosted: Tue Aug 17, 2021 9:29 am 
Offline
User avatar

Joined: Sun May 11, 2008 4:11 pm
Posts: 57232
And some guys may not be able to be disciplined to do well with a lump sum payment. It is one of those things that sounds nice and easy to guys in our situations, but some just don't do well with a lot of money dumped in their lap at one time. This way he will have things spread out for the long term.

_________________
"He is a loathsome, offensive brute
--yet I can't look away."

Frank Coztansa wrote:
I have MANY years of experience in trying to appreciate steaming piles of dogshit.
Top
 Profile  
 
conns7901
PostPosted: Tue Aug 17, 2021 9:42 am 
Offline
User avatar

Joined: Wed Nov 30, 2005 11:36 pm
Posts: 19369
He made sure he has guaranteed million dollar level income into his early 50s while he figures out what to do with the rest of his life. Sure it is not the best deal he could have made, assuming he invests properly, but not everyone does well in that sector.

_________________
Frank Coztansa wrote:
conns7901 wrote:
Not over yet.
Yes it is.


CDOM wrote:
When this is all over, which is not going to be for a while, Trump will be re-elected President.


Top
 Profile  
 
vitoscotti
PostPosted: Tue Aug 17, 2021 10:02 am 
Offline

Joined: Fri May 25, 2018 8:58 am
Posts: 6302
pizza_Place: Frozen
Seems like a ploy by bad money long term MLB free agents to start charitable foundations to take the heat off. If you're got 161 million guaranteed how do you not give back some to the in need? With write offs, corporate help, shrewd lawyers and accountants they're probably not out anything when it's said and done.
Top
 Profile  
 
Nas
PostPosted: Tue Aug 17, 2021 10:08 am 
Offline
100000 CLUB
User avatar

Joined: Tue Mar 29, 2005 8:06 pm
Posts: 81466
pizza_Place: 773-684-2222
If you have $160M contract, you're only pocketing about $80M. That's still a lot of money, but not as much as $160M.

I don't think it'll get better than Bobby Bonilla Day.

_________________
Be well

GO BEARS!!!
Top
 Profile  
 
good dolphin
PostPosted: Tue Aug 17, 2021 10:20 am 
Offline
User avatar

Joined: Thu Feb 17, 2005 2:35 pm
Posts: 82220
RFDC wrote:
And some guys may not be able to be disciplined to do well with a lump sum payment. It is one of those things that sounds nice and easy to guys in our situations, but some just don't do well with a lot of money dumped in their lap at one time. This way he will have things spread out for the long term.


If a player is so incapable that he needs to be saved from himself with exotic payment schedules, he'd be better off taking all his money today and putting it into some kind of trust that is inaccessible and earning money for him.

The only argument that deferred money benefits the player is that the owner is willing to give a higher total contract if the player defers than if he doesn't defer.

_________________
O judgment! Thou art fled to brutish beasts,
And men have lost their reason.
Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  Page 1 of 1
  [ 13 posts ] 

Board index » CHICAGO AND NATIONAL TEAMS » MLB

All times are UTC - 6 hours [ DST ]

Who is online

Users browsing this forum: No registered users and 8 guests

You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum

Search for:
Jump to:  
Powered by phpBB® Forum Software © phpBB Group