Lebron and Bosh didn't give up Income

[radrmd216]

This is for the people that think that Lebron and Bosh joining Miami reduces their income.

Lebron, bosh, and Wade have planned playing for Miami for a awhile. They also know winning championships generates long term income and that Florida has no state personal income tax.

Lebron saves (increases income) much more than Bosh, since Lebron makes a lot more money from sponsorships. Lebron left roughly $15M on the table. Some sources say Lebron could save upwards of $25m or make roughly $10 dollars by signing in Miami.

http://www.aolnews.com/article/how-much ... n/19548687

http://www.foreignersfinances.com/how-m ... -in-miami/

http://www.palmbeachpost.com/money/by-c ... 94079.html

If anybody has an other links or sources post them here.

[rocketsballin]

if they took 80/90mil deals, then thats a paycut. but they pullin a gilbert arenas and takin 10mil less or w/e. o well, still a bad ass team

[Malinhion]

The less tax imposed by the state of Florida, the more money he could have made in a large S&T deal. If they sign for the extra $30mil, they get another $30m exempt from state tax. More money than they would have left on the table in New York or Chicago. Regardless of the tax rules, these guys were entitled to a lot of money under the CBA that they left on the table entering into an uncertain financial climate for the league.

[darth_federer]

Lebron especially. He not only saves money, but a championship will definitely boost his income.

http://online.wsj.com/article/SB1000142 ... lenews_wsj

[radrmd216]

Malinhion, Lebron left roughly 11% of the max on the table so the three could all sign together. He knows he can more than make up for the lost money if he wins titles. Also he knows Florida has no income tax.

[Kosar86]

The less tax imposed by the state of Florida, the more money he could have made in a large S&T deal. If they sign for the extra $30mil, they get another $30m exempt from state tax. More money than they would have left on the table in New York or Chicago. Regardless of the tax rules, these guys were entitled to a lot of money under the CBA that they left on the table entering into an uncertain financial climate for the league.

Huh? They signed for $110 mil and could have gotten $121 mill over 6 years.....wheres the $30 mil you are talking about?

[branch]

Did James lose any endorsements after what he did? Just curious

[Heat3]

Why would he? He'll probably get more now lol


And yes, they left money on the table. Doesn't matter that they're still filthy rich, they could have had more guaranteed.

[Stills12]

they signed for less money than they could have received, this equals giving up income... if you bring up taxes then they could have signed for the max and not get taxed on that max but they decided to sign for less and not get taxed on that.
and winning championships is a outside factor since technically speaking they signed on dotted line for less money.

[Googjob]

Why would he? He'll probably get more now lol

And yes, they left money on the table. Doesn't matter that they're still filthy rich, they could have had more guaranteed.

Ask Tiger how the endorsements are doing these days.

[HEATindaHouse]

Why would he? He'll probably get more now lol

And yes, they left money on the table. Doesn't matter that they're still filthy rich, they could have had more guaranteed.

Ask Tiger how the endorsements are doing these days.

lol wut?

[GoBobs]

Lebron went from the most popular NBA player to the most unpopular. That is going to catch up with him eventually. His value as a spokesman is at an all time low. Few people respect him anymore outside of Miami.

[Heat3]

Tiger woods still has a gaIllion endorsements and in two years the ones that left will be begging him to take them back. What Lebron did pales in comparison to what Woods did and honestly, I think people are full of themselves to be mad at Tiger. Only ones that have a right to be mad are his wife and kids.

[CRACKSMATIC]

they took a paycut, but they'll probably make it back with the low income tax in Miami and endorsements if they win a championship

[Kayjay]

They signed for less than they could have. They gave up income. Plain and simple.

[springz]

LeBron gave up ~a billion by not signing on longterm with NY didn't he?

[Volcano]

so there's no possible way any of them could have gotten a larger contract with Miami? cool

[Malinhion]

The less tax imposed by the state of Florida, the more money he could have made in a large S&T deal. If they sign for the extra $30mil, they get another $30m exempt from state tax. More money than they would have left on the table in New York or Chicago. Regardless of the tax rules, these guys were entitled to a lot of money under the CBA that they left on the table entering into an uncertain financial climate for the league.

Huh? They signed for $110 mil and could have gotten $121 mill over 6 years.....wheres the $30 mil you are talking about?

Sorry my math was wrong. I was thinking about the $30m you lost in a S&T for whatever reason. After running the numbers the maximium cap number (assuming $16.6 base year) is:

$125,745,000

...and he took $110m. So it's about $16m, or $2.6m/season.

Either way, its left on the table. The principle is the same. You can't say they didn't leave money when they did. It's a factual inaccuracy.

[BiggieSmalls]

Yea, they did sign for less money, but im not sure why? if i was lebron and i was throwing away my legacy, I would want the max money to take a hit like that. I just ruined my chance to be considered one of the greatest players of all time so I would want a max contract to help me get over that. But i guess he doesnt care since ultimately he did sign in miami.

[heatwillbeback]

they took less money so the Heat had more wiggle room

yes, the tax thing is correct. All three still could of taken the 15 million more on top of the tax savings. And all three could of taken the max and still had the endorsement money