Thamel: Syracuse forward Jerami Grant plans to announce he's declaring for the NBA Draft today.

[Bayside44]

He made over $5 million dollars since he left college. I'd say it worked out pretty well for him.

He's also paid what in taxes and how long does he plan on living?

IF he developed like guys used to develop he makes more than that in a season.

 

[CusefanATL]

This years team just killed me with there slow methodical play . It aged me 10 years , now I can retire . I feel this years team will be high flying , rockin , jammin team ! JB , let go the horses !

thats why everyone wanted to come here in the 1st place. no idea why JB put the blinders on them.

 

[JrodCuse]

To quote the water boy:

Oh no we suck again!

Just kidding we'll be fine.

 

[jgeorge322]

i think the common perception amongst fans is that we want the player to stay so the team can be better next year. while that certainly plays a role, i think what is more disenchanting for me is the abrupt stop to the journey of watching a player develop. why i love college sports is watching the player develop into something greater than what he came in as. when that doesn't come full circle, it hurts a bit. both ennis and grant seemed to be on the fringe of being great players yet we won't get to see them take that leap next year. that's why it hurts me, not the fact that we'll lose more games now.
this obviously doesn't override the need for them to make smart financial decisions. i thought it would be worthwhile to make the distinction because the common thought seems to be it all being about how many more games we'll lose next year now.

 

[OttoinGrotto]

He's also paid what in taxes and how long does he plan on living?

IF he developed like guys used to develop he makes more than that in a season.

I don't know about that. This is kind of zero-sum with the salary cap. Who's to say he would have gotten a higher paying deal than somebody else taking that time to develop.

A lot of guys washed out of the NBA when players stayed for 4 years, too.

 

[Briancuse]

He made over $5 million dollars since he left college. I'd say it worked out pretty well for him.

Great he made 5 mil, he is 26 years old, it is going to last him forever.

 

[Lawrinson14]

He's also paid what in taxes and how long does he plan on living?

If he developed like guys used to develop he makes more than that in a season.

Using this site as a guide...

Taxes for income over $400,000 is 39.6%.

5,000,000 x .604 (take home pay) = $3,020,000

Conservatively, let's say he's spent $500,000 of it already. 3,020,000 - 500,000 = $2,520,000

No let's say he lives to be 80. 80-26 (current age) = 54.

$2,520,000/54 = he can spend $46,666 per year for the rest of his life.

That's not too shabby.

 

[CU44SE]

*Jumps on my High Horse*

Ill be completely honest with everyone, Im a die hard Syracuse fan so yes this pisses me off. I don't care about the NBA and I don't agree with the comment that Syracuse players doing well in the NBA is good for Syracuse recruiting. We have had several occasions of Syracuse players flaming out and not excelling in the NBA, but it never seemed to hurt recruiting when they failed out of the league. The biggest thing that changed recruiting was Mike Hopkins and the Melo Center, not Syracuse players doing well in the NBA. Even though it is unattainable, my goal for every season is to win a national championship; it is what I go into each season hoping for. I like these players because they played at Syracuse and only because they played at Syracuse, so selfishly I want them to stay at Syracuse and I could really care less about how much money they can make by going pro, that doesn't win Syracuse Championships, players staying and developing wins Syracuse Championships so this is what I hope for every year.

*Jumps off my high horse*

 

[Toga]

i think the common perception amongst fans is that we want the player to stay so the team can be better next year. while that certainly plays a role, i think what is more disenchanting for me is the abrupt stop to the journey of watching a player develop. why i love college sports is watching the player develop into something greater than what he came in as. when that doesn't come full circle, it hurts a bit. both ennis and grant seemed to be on the fringe of being great players yet we won't get to see them take that leap next year. that's why it hurts me, not the fact that we'll lose more games now.
this obviously doesn't override the need for them to make smart financial decisions. i thought it would be worthwhile to make the distinction because the common thought seems to be it all being about how many more games we'll lose next year now.

Where is the triple Like button?

 

[Bayside44]

I don't know about that. This is kind of zero-sum with the salary cap. Who's to say he would have gotten a higher paying deal than somebody else taking that time to develop.

A lot of guys washed out of the NBA when players stayed for 4 years, too.

The argument some make on this is take the money before you get found out for not being good enough.

The classic argument is develop your game, mind, and body to give the NBA the best you can offer.

Every time some kid doesn't take the money and gets exposed in college becomes an argument for the kid to jump and for an NBA team to make a bad pick. That seems backwards to me.

 

[Timonen]

He's also paid what in taxes and how long does he plan on living?

IF he developed like guys used to develop he makes more than that in a season.

not sure the logic holds here. when there are so many variables that can negatively impact the revenue (your "IF" statement), don't you always take the lump sum? the taxes don't change that equation.

 

[Toga]

Using this site as a guide...

Taxes for income over $400,000 is 39.6%.

5,000,000 x .604 (take home pay) = $3,020,000

Conservatively, let's say he's spent $500,000 of it already. 3,020,000 - 500,000 = $2,520,000

No let's say he lives to be 80. 80-26 (current age) = 54.

$2,520,000/54 = he can spend $46,666 per year for the rest of his life.

That's not too shabby.

You forget the value of compounding.

 

[Bayside44]

Using this site as a guide...

Taxes for income over $400,000 is 39.6%.

5,000,000 x .604 (take home pay) = $3,020,000

Conservatively, let's say he's spent $500,000 of it already. 3,020,000 - 500,000 = $2,520,000

No let's say he lives to be 80. 80-26 (current age) = 54.

$2,520,000/54 = he can spend $46,666 per year for the rest of his life.

That's not too shabby.

That's pretty shabby. Lets say he wants a mortgage, family, etc...that's not a lot of money for a guy who handled himself as a professional athlete.

 

[Briancuse]

The argument some make on this is take the money before you get found out for not being good enough.

The classic argument is develop your game, mind, and body to give the NBA the best you can offer.

Every time some kid doesn't take the money and gets exposed in college becomes an argument for the kid to jump and for an NBA team to make a bad pick. That seems backwards to me.

I always hate that argument, its like I am a complete fraud, I have no confidence in myself, let me get what I can now.

Whatever happened to making yourself into the best player you possibly can?

 

[OttoinGrotto]

Great he made 5 mil, he is 26 years old, it is going to last him forever.

How many 26 years old that were in his Freshman class at Syracuse have made $5mil?

 

[Bayside44]

not sure the logic holds here. when there are so many variables that can negatively impact the revenue (your "IF" statement), don't you always take the lump sum? the taxes don't change that equation.

If he didn't develop he was never good enough. But he never gave himself a chance to be a more polished player. He was a stringbeen who chucked 3s on a team that was not that good.

 

[OttoinGrotto]

Whatever happened to making yourself into the best player you possibly can?

You know, if you made a venn diagram, and one of the circles was "Declare for the NBA draft," and the other circle was "Become the best player you possibly can," there actually is quite a bit of area where the two circles overlap.

 

[Timonen]

Using this site as a guide...

Taxes for income over $400,000 is 39.6%.

5,000,000 x .604 (take home pay) = $3,020,000

Conservatively, let's say he's spent $500,000 of it already. 3,020,000 - 500,000 = $2,520,000

No let's say he lives to be 80. 80-26 (current age) = 54.

$2,520,000/54 = he can spend $46,666 per year for the rest of his life.

That's not too shabby.

taxes in china are much lower and an annuity on a 2.5M raises that 47K by A LOT...and he'll still be drawing income from other places if he wants. just sayin.

 

[Lawrinson14]

How many 26 years old that were in his Freshman class at Syracuse have made $5mil?

Not me (yes I was in his freshman class).

 

[Bayside44]

How many 26 years old that were in his Freshman class at Syracuse have made $5mil?

Take those kids at 35-40, then compare their career earnings and savings.

 

[Briancuse]

How many 26 years old that were in his Freshman class at Syracuse have made $5mil?

Probably none, but that isn't the point. It is about how much he could have made, and what type of player he could have become.

 

[Briancuse]

taxes in china are much lower and an annuity on a 2.5M raises that 47K by A LOT...and he'll still be drawing income from other places if he wants. just sayin.

Would you want to live in China?

 

[OttoinGrotto]

Take those kids at 35-40, then compare their career earnings and savings.

Sure, because 35-40 is really when professional athletes that stayed for 4 years in school capitalize financially.

 

[OttoinGrotto]

Probably none, but that isn't the point. It is about how much he could have made, and what type of player he could have become.

Which is unknowable, and therefore, worth $0.

 

[thebigeast44]

How many 26 years old that were in his Freshman class at Syracuse have made $5mil?

Exactly. He could take some of that money and go back and get a degree. He could look for a job in coaching. Lots of things. I'd love to have been 26 and made that much money already with plenty of opportunities to make more in my lifetime outside of basketball. Heck, lots of kids today are leaving college and can't find jobs. I do think Donte should have come back for one more year and I bet you he would say the same. But for 99.9% of the population, what he has made since graduation would be like hitting the lottery.