Melo Stays with the Knicks !!!!

[br801]

Unless he wins an NBA title, I think his legacy is gonna be as one of those guys like Dominique or George Gervin. Fair or not.

Nothing wrong with their legacies, IMO. 99.9999% of the people who ever picked up a basketball would sign up for those careers.

 

[Knicks411]

Nothing wrong with their legacies, IMO. 99.9999% of the people who ever picked up a basketball would sign up for those careers.

That's fine, it's secure in that it's not gonna get much worse than it is (which doesnt mean its bad) but if he wins a ring or two it can go up a notch

 

[Col. Bleep]

Not sure ANY ACCOUNTANT CAN CHANGE THIS.

As a resident of New York City, Anthony would pay a top state tax rate of 8.82% and an additional 3.876% NYC tax on all of his contract earnings. That’s over 12.6% in state and city tax Anthony will pay on a $129 million deal, shaving over $16.25 million off the top and reducing the pre-federal tax value of the max contract to $112.75 million. Of course, Anthony’s estimated annual endorsement earnings of $8 million would also be subject to this 12.6% state and city tax.

Take 12.6% for state and city taxes, and returning to NY would net Anthony $87.4 million before federal taxes without the Bush tax breaks would reduce the 87.4 million down to 69 million after the federal government got their cut.

My point is these athletes probably gross half of whatever they sign for because of taxes unless they sign in Florida or Texas.

Yes...the tax bite is huge.
But he's got to have accountants and financial advisers who can slice those nominal rates with appropriate deductions.

But just thinking about these numbers gives me new regard for Mike Tyson who somehow found a way to squander $400 million.
A few entourages...a few mansions...a few white tigers...an athletes's expenses can really add up.

 

[Alsacs]

Hadn't at down and done the math, but Lowe has the Knicks with as much as $23 million in cap space netx year, but more likely $17, with the hol don Shump.

I had the Knicks with 27.5 million if Melo gets the entire MAX and that is assuming Greek freak's brother and Early aren't overseas and the roster. It boils down to the fact the Bargs trade ruined the Knicks cap.
If I were a superstar I would be pissed at the NBAPA and Billy Hunter. The NBA is going to be flush with money thanks to these new TV deals the league is way more popular aboard than any other American sports league and yet the players salaries are capped. Superstars should be able to command whatever they can get on the market within the salary cap. It is a joke Jon Lester will sign a larger free agent contract this offseason than Lebron James will sign. I like Lester but he isn't Lebron James. Billy Hunter and his crony family really hurt NBA players.

 

[realorange]

Yes...the tax bite is huge.
But he's got to have accountants and financial advisers who can slice those nominal rates with appropriate deductions.

But just thinking about these numbers gives me new regard for Mike Tyson who somehow found a way to squander $400 million.
A few entourages...a few mansions...a few white tigers...an athletes's expenses can really add up.

And managers and agents that milked him dry.

 

[Alsacs]

League Revenues (bn) TV Revenue

Major League Baseball $7.0 $1.5 bn
Major League Soccer $0.5 $90 m
National Basketball Association $5.0 $930 m
National Football League $9.0 $5.0 bn
National Hockey League $3.3 $600 m


MLB no salary cap
MLS 3 million dollar salary cap with 3 designated players not counted towards the cap.
NBA 63 million dollar salary cap 74 million dollar luxury tax line
NFL 133 million dollar hard salary cap
NHL 69 million dollar hard salary cap


Average Franchise value League Median value Expansion fee record
NFL $1.1bn $700m
MLB $650m $130m
NBA $555m $300m
NHL $360m $80m
MLS $96m $100m


The NBA OWNS the NBAPA BADLY. I mean this a joke. I can't believe the NHL has a higher salary cap than the NBA. I get their are 20 players versus 15, but that is a joke.

 

[Fireball Jr.]

And the plot thickens http://www.sbnation.com/nba/2014/7/...new-york-knicks-second-thoughts-chicago-bulls

 

[thebigeast44]

If Rose was guaranteed to be the same player he was a few years ago, Melo would likely already have announced he was heading to Chicago. The fact that no one knows if he'll ever be that player again along with the extra money he can get in NY and the presence of Phil Jackson is leaving him torn. Can't blame him - I'd be feeling the exact same way.

 

[Toga]

Yes...the tax bite is huge.
But he's got to have accountants and financial advisers who can slice those nominal rates with appropriate deductions.

But just thinking about these numbers gives me new regard for Mike Tyson who somehow found a way to squander $400 million.
A few entourages...a few mansions...a few white tigers...an athletes's expenses can really add up.

 

[AlaskaSU]

If Rose was guaranteed to be the same player he was a few years ago, Melo would likely already have announced he was heading to Chicago. The fact that no one knows if he'll ever be that player again along with the extra money he can get in NY and the presence of Phil Jackson is leaving him torn. Can't blame him - I'd be feeling the exact same way.

LaLa might be the biggest part of the equation.

 

[thebigeast44]

LaLa might be the biggest part of the equation.

No doubt, her wishes are an important part of Melo's decision - likely the main reason Houston is not being talked about. But you have to think Lala would be fine in Chicago as well - Oprah did pretty well there

 

[Deano]

And the plot thickens http://www.sbnation.com/nba/2014/7/...new-york-knicks-second-thoughts-chicago-bulls

But, but, but according to the NY Daily News guy it was a done deal and it was supposed to be announced yesterday. So someone explain this one?? I hope he does go to Chicago.

 

[TheCusian]

If Rose was guaranteed to be the same player he was a few years ago, Melo would likely already have announced he was heading to Chicago. The fact that no one knows if he'll ever be that player again along with the extra money he can get in NY and the presence of Phil Jackson is leaving him torn. Can't blame him - I'd be feeling the exact same way.

Don't think that's the hold up. Let me fix it for you: "If the Bulls could offer the max, Melo would likely already have announced he was heading to Chicago."

 

[SWC75]

Was this the real reason?
http://www.tmz.com/2014/07/09/carme...ances-for-life-if-you-resign-with-the-knicks/

 

[HeaterCuse22]

Was this the real reason?
http://www.tmz.com/2014/07/09/carme...ances-for-life-if-you-resign-with-the-knicks/

Gotta love TMZ. Bitch and Moan and Whine about respect as a news agency then they publish this steaming pile of stuff. LOL.. 'Merica

 

[Bayside44]

I am fearing Isola got duped.

 

[Madbiker]

With the Heat breaking up and the Cavs no sure thing with their youth, has a championship window opened for the Bulls next season if Melo goes there? Have to think Melo is tempted by that. But that $59 million he would have to leave on the table is a lot of cash.

 

[RF2044]

With the Heat breaking up and the Cavs no sure thing with their youth, has a championship window opened for the Bulls next season if Melo goes there? Have to think Melo is tempted by that. But that $59 million he would have to leave on the table is a lot of cash.

Agreed. And it would be hilarious if he spurns the knicks after the report that came out earlier in the week.

The opportunity is there to seize control of the eastern conference. He's not going to be able to contend for a finals berth next year in NY, but he would in Chicago.

 

[Knicks411]

Yeah I would think he's exploring a sign and trade? Find it hard to believe he'd turn down all that money, but if they can get it a lot closer, that's a different story.
The other part is whether or not the Knicks would engage the bulls in a sign and trade

 

[CuseTG2003]

Yeah I would think he's exploring a sign and trade? Find it hard to believe he'd turn down all that money, but if they can get it a lot closer, that's a different story.
The other part is whether or not the Knicks would engage the bulls in a sign and trade

Word is the Bulls are trying to put trades in place that would clear enough cap space to sign Melo at the max, which might force the Knicks to do a sign and trade.

 

[KaiserUEO]

Word is the Bulls are trying to put trades in place that would clear enough cap space to sign Melo at the max, which might force the Knicks to do a sign and trade.

July 11, 2014 is LeBron's Day and his weekend.

Melo signs with Knicks on Monday.

 

[Knicks411]

Word is the Bulls are trying to put trades in place that would clear enough cap space to sign Melo at the max, which might force the Knicks to do a sign and trade.

They'd have to move a lot, unless they will amnesty Boozer.

 

[Alsacs]

They'd have to move a lot, unless they will amnesty Boozer.

The Bulls should just give Philly or Charlotte a first round pick and trade Boozer since Reinsdorf is so cheap.

 

[CuseTG2003]

They'd have to move a lot, unless they will amnesty Boozer.

I think it's a given they amnesty Boozer if that means they get Melo, right?

 

[Alsacs]

They'd have to move a lot, unless they will amnesty Boozer.

This deal was sent to me and makes sense for both teams. If I were running the Knicks I would trade Melo. Trade I was told being discussed is Carmelo and JR Smith for Carlos Boozer, Jimmy Butler, the first-round pick the Bulls have from the Sacramento Kings, another future pick, Nikola Mirotic, Mike Dunleavy.
Knicks get assets and expiring contracts.