Tommy to the Saints

[luckyirishguy25]

I don't know how it all works, but I assume Tommy gets whatever that signing bonus was, and then part of the 4 point whatever million over whatever years... just the pro rated portion for how many days he was on the team? Second question, now does he get a signing bonus with new team, and any idea how much salary.

He should get the Raiders signing bonus but I kind of doubt he got any salary since his was released before the final cuts. With the Saints he might get a signing bonus but his salary will be the practice squad rate which is much lower than the rookie active roster rate.

Correct. It was a Mon-guaranteed contract contingent on making the 53. He does keep his signing bonus along with whatever money they get to be in camp. Unsure if there is any signing bonus for practice squad other than perhaps moving expenses.

Practice squad Minimum is $13,000 a week. So he will make roughly $234,000 if he stays on all year.

Not bad for a little over 4 months.

Quite a bit more than a working sector job in Montana for sure, even in financial engineering!

He's worked so hard for a chance. Really hoping the best for him! He's easy to root for!

The fees players in all the major professional sports leagues have to pay the owners/organization is astronomical. I bet, including taxes, they only take home about 55% of that.

Oh I wasn't aware of that. Hmmmm

You weren’t aware of it because it’s not true. Players don’t pay “astronomical” fees to their teams, they basically don’t pay anything to the organization, but they do pay taxes and also agent fees. Also, some states have “athlete taxes” where professional athletes pay a higher tax rate as a member of a visiting team for any games in those states.

I imagine state taxes are a nightmare for these guys.

[liqud360]

I believe it was also Sam McCullum's number with the Seahawks.

My uncle had him as a student in his history class here at Flathead High. Always had a picture of Sam in his office, now both of their pictures are outside Legends Field.

[BelligerentBobcat]

I don't know how it all works, but I assume Tommy gets whatever that signing bonus was, and then part of the 4 point whatever million over whatever years... just the pro rated portion for how many days he was on the team? Second question, now does he get a signing bonus with new team, and any idea how much salary.

He should get the Raiders signing bonus but I kind of doubt he got any salary since his was released before the final cuts. With the Saints he might get a signing bonus but his salary will be the practice squad rate which is much lower than the rookie active roster rate.

Correct. It was a Mon-guaranteed contract contingent on making the 53. He does keep his signing bonus along with whatever money they get to be in camp. Unsure if there is any signing bonus for practice squad other than perhaps moving expenses.

Practice squad Minimum is $13,000 a week. So he will make roughly $234,000 if he stays on all year.

Not bad for a little over 4 months.

Quite a bit more than a working sector job in Montana for sure, even in financial engineering!

He's worked so hard for a chance. Really hoping the best for him! He's easy to root for!

The fees players in all the major professional sports leagues have to pay the owners/organization is astronomical. I bet, including taxes, they only take home about 55% of that.

What fees are they paying to their teams Tom? I follow closely and have never heard of that.

[kwcat]

I don't know how it all works, but I assume Tommy gets whatever that signing bonus was, and then part of the 4 point whatever million over whatever years... just the pro rated portion for how many days he was on the team? Second question, now does he get a signing bonus with new team, and any idea how much salary.

He should get the Raiders signing bonus but I kind of doubt he got any salary since his was released before the final cuts. With the Saints he might get a signing bonus but his salary will be the practice squad rate which is much lower than the rookie active roster rate.

Correct. It was a Mon-guaranteed contract contingent on making the 53. He does keep his signing bonus along with whatever money they get to be in camp. Unsure if there is any signing bonus for practice squad other than perhaps moving expenses.

Practice squad Minimum is $13,000 a week. So he will make roughly $234,000 if he stays on all year.

Not bad for a little over 4 months.

Quite a bit more than a working sector job in Montana for sure, even in financial engineering!

He's worked so hard for a chance. Really hoping the best for him! He's easy to root for!

The fees players in all the major professional sports leagues have to pay the owners/organization is astronomical. I bet, including taxes, they only take home about 55% of that.

What fees are they paying to their teams Tom? I follow closely and have never heard of that.

Probably already understood but just a comment on the four months of pay. That money really is not earned during the four months on the roster. It’s earned in all of the work that goes in in the months typically with no income and a lot of hard work that very few people get to see

[nanacat]

I don't know how it all works, but I assume Tommy gets whatever that signing bonus was, and then part of the 4 point whatever million over whatever years... just the pro rated portion for how many days he was on the team? Second question, now does he get a signing bonus with new team, and any idea how much salary.

He should get the Raiders signing bonus but I kind of doubt he got any salary since his was released before the final cuts. With the Saints he might get a signing bonus but his salary will be the practice squad rate which is much lower than the rookie active roster rate.

Correct. It was a Mon-guaranteed contract contingent on making the 53. He does keep his signing bonus along with whatever money they get to be in camp. Unsure if there is any signing bonus for practice squad other than perhaps moving expenses.

Practice squad Minimum is $13,000 a week. So he will make roughly $234,000 if he stays on all year.

Not bad for a little over 4 months.

Quite a bit more than a working sector job in Montana for sure, even in financial engineering!

He's worked so hard for a chance. Really hoping the best for him! He's easy to root for!

The fees players in all the major professional sports leagues have to pay the owners/organization is astronomical. I bet, including taxes, they only take home about 55% of that.

What fees are they paying to their teams Tom? I follow closely and have never heard of that.

Probably already understood but just a comment on the four months of pay. That money really is not earned during the four months on the roster. It’s earned in all of the work that goes in in the months typically with no income and a lot of hard work that very few people get to see

So you're saying, if I understand correctly, that players are only actually paid during the season? The other months of the year, where they aren't in organized practices, but are managing their own training, etc. is not paid? I'm guessing you mean practice squad players rather than those under contract in this regard?

Never really knew how the NFL functioned with regards to player salaries. Never really cared lol.

[RockyBearCat]

So you're saying, if I understand correctly, that players are only actually paid during the season? The other months of the year, where they aren't in organized practices, but are managing their own training, etc. is not paid? I'm guessing you mean practice squad players rather than those under contract in this regard?

Never really knew how the NFL functioned with regards to player salaries. Never really cared lol.

Summary ---> NFL players get paid through a combination of signing bonuses, which can be paid immediately, and regular salary, paid out weekly or bi-weekly in 18 installments during the season. Additional money comes from playoff checks and other contract incentives, but these are paid out separately.

[TomCat88]

I don't know how it all works, but I assume Tommy gets whatever that signing bonus was, and then part of the 4 point whatever million over whatever years... just the pro rated portion for how many days he was on the team? Second question, now does he get a signing bonus with new team, and any idea how much salary.

He should get the Raiders signing bonus but I kind of doubt he got any salary since his was released before the final cuts. With the Saints he might get a signing bonus but his salary will be the practice squad rate which is much lower than the rookie active roster rate.

Correct. It was a Mon-guaranteed contract contingent on making the 53. He does keep his signing bonus along with whatever money they get to be in camp. Unsure if there is any signing bonus for practice squad other than perhaps moving expenses.

Practice squad Minimum is $13,000 a week. So he will make roughly $234,000 if he stays on all year.

Not bad for a little over 4 months.

Quite a bit more than a working sector job in Montana for sure, even in financial engineering!

He's worked so hard for a chance. Really hoping the best for him! He's easy to root for!

The fees players in all the major professional sports leagues have to pay the owners/organization is astronomical. I bet, including taxes, they only take home about 55% of that.

What fees are they paying to their teams Tom? I follow closely and have never heard of that.

Agents. My understanding is that they have to pay for all their equipment. Just about everything the team does for them, such as meals, rooms, PT, etc.

***Upon further review…that doesn’t appear to be the case anymore, if it ever was.***

[Mrs TrackCat]

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I don't know how it all works, but I assume Tommy gets whatever that signing bonus was, and then part of the 4 point whatever million over whatever years... just the pro rated portion for how many days he was on the team? Second question, now does he get a signing bonus with new team, and any idea how much salary.

He should get the Raiders signing bonus but I kind of doubt he got any salary since his was released before the final cuts. With the Saints he might get a signing bonus but his salary will be the practice squad rate which is much lower than the rookie active roster rate.
[/quote]

Correct. It was a Mon-guaranteed contract contingent on making the 53. He does keep his signing bonus along with whatever money they get to be in camp. Unsure if there is any signing bonus for practice squad other than perhaps moving expenses.
[/quote]

Practice squad Minimum is $13,000 a week. So he will make roughly $234,000 if he stays on all year.
[/quote]

Not bad for a little over 4 months.
[/quote]
Quite a bit more than a working sector job in Montana for sure, even in financial engineering!

He's worked so hard for a chance. Really hoping the best for him! He's easy to root for!
[/quote]

The fees players in all the major professional sports leagues have to pay the owners/organization is astronomical. I bet, including taxes, they only take home about 55% of that.
[/quote]
Oh I wasn't aware of that. Hmmmm
[/quote]

You weren’t aware of it because it’s not true. Players don’t pay “astronomical” fees to their teams, they basically don’t pay anything to the organization, but they do pay taxes and also agent fees. Also, some states have “athlete taxes” where professional athletes pay a higher tax rate as a member of a visiting team for any games in those states.
[/quote]
I imagine state taxes are a nightmare for these guys.
[/quote]

I don't know how it all works, but I assume Tommy gets whatever that signing bonus was, and then part of the 4 point whatever million over whatever years... just the pro rated portion for how many days he was on the team? Second question, now does he get a signing bonus with new team, and any idea how much salary.

He should get the Raiders signing bonus but I kind of doubt he got any salary since his was released before the final cuts. With the Saints he might get a signing bonus but his salary will be the practice squad rate which is much lower than the rookie active roster rate.

Correct. It was a Mon-guaranteed contract contingent on making the 53. He does keep his signing bonus along with whatever money they get to be in camp. Unsure if there is any signing bonus for practice squad other than perhaps moving expenses.

Practice squad Minimum is $13,000 a week. So he will make roughly $234,000 if he stays on all year.

Not bad for a little over 4 months.

Quite a bit more than a working sector job in Montana for sure, even in financial engineering!

He's worked so hard for a chance. Really hoping the best for him! He's easy to root for!

The fees players in all the major professional sports leagues have to pay the owners/organization is astronomical. I bet, including taxes, they only take home about 55% of that.

Oh I wasn't aware of that. Hmmmm

You weren’t aware of it because it’s not true. Players don’t pay “astronomical” fees to their teams, they basically don’t pay anything to the organization, but they do pay taxes and also agent fees. Also, some states have “athlete taxes” where professional athletes pay a higher tax rate as a member of a visiting team for any games in those states.

I imagine state taxes are a nightmare for these guys.

I’m quite sure when my brother was employed by a mlb team, he had to file taxes in every state they played in. Will have to ask him about it.

[kwcat]

I don't know how it all works, but I assume Tommy gets whatever that signing bonus was, and then part of the 4 point whatever million over whatever years... just the pro rated portion for how many days he was on the team? Second question, now does he get a signing bonus with new team, and any idea how much salary.

He should get the Raiders signing bonus but I kind of doubt he got any salary since his was released before the final cuts. With the Saints he might get a signing bonus but his salary will be the practice squad rate which is much lower than the rookie active roster rate.

Correct. It was a Mon-guaranteed contract contingent on making the 53. He does keep his signing bonus along with whatever money they get to be in camp. Unsure if there is any signing bonus for practice squad other than perhaps moving expenses.

Practice squad Minimum is $13,000 a week. So he will make roughly $234,000 if he stays on all year.

Not bad for a little over 4 months.

Quite a bit more than a working sector job in Montana for sure, even in financial engineering!

He's worked so hard for a chance. Really hoping the best for him! He's easy to root for!

The fees players in all the major professional sports leagues have to pay the owners/organization is astronomical. I bet, including taxes, they only take home about 55% of that.

What fees are they paying to their teams Tom? I follow closely and have never heard of that.

Probably already understood but just a comment on the four months of pay. That money really is not earned during the four months on the roster. It’s earned in all of the work that goes in in the months typically with no income and a lot of hard work that very few people get to see

So you're saying, if I understand correctly, that players are only actually paid during the season? The other months of the year, where they aren't in organized practices, but are managing their own training, etc. is not paid? I'm guessing you mean practice squad players rather than those under contract in this regard?

Never really knew how the NFL functioned with regards to player salaries. Never really cared lol.

Actually, just responding to the comment about being paid so much money for four months work. Regardless of all the pay system works schedule wise. These players have to work the rest of the year to continue to improve and stay competitive was my point.

[nanacat]

So you're saying, if I understand correctly, that players are only actually paid during the season? The other months of the year, where they aren't in organized practices, but are managing their own training, etc. is not paid? I'm guessing you mean practice squad players rather than those under contract in this regard?

Never really knew how the NFL functioned with regards to player salaries. Never really cared lol.

Summary ---> NFL players get paid through a combination of signing bonuses, which can be paid immediately, and regular salary, paid out weekly or bi-weekly in 18 installments during the season. Additional money comes from playoff checks and other contract incentives, but these are paid out separately.

Thank you!

[St George]

Seems strange to me that a player would have to pay taxes in every state they played in. I have worked for an engineering firm in Colorado, branch office in Montana, I did projects in Montana, Washington, Colorado, Georgia, and Michigan and only paid taxes in Montana. I then worked for another firm in Idaho and did projects in Idaho, Nevada as well as in Sweden and only paid taxes in Idaho.

[coloradocat]

Seems strange to me that a player would have to pay taxes in every state they played in. I have worked for an engineering firm in Colorado, branch office in Montana, I did projects in Montana, Washington, Colorado, Georgia, and Michigan and only paid taxes in Montana. I then worked for another firm in Idaho and did projects in Idaho, Nevada as well as in Sweden and only paid taxes in Idaho.

When I worked for accounting firms and had out of state work I had to pay taxes to the other states. I'm guessing your employers just didn't overly document where there employees were every day like mine did. Tommy's situation is common for highly visible (high payroll) companies.

[BelligerentBobcat]

I don't know how it all works, but I assume Tommy gets whatever that signing bonus was, and then part of the 4 point whatever million over whatever years... just the pro rated portion for how many days he was on the team? Second question, now does he get a signing bonus with new team, and any idea how much salary.

He should get the Raiders signing bonus but I kind of doubt he got any salary since his was released before the final cuts. With the Saints he might get a signing bonus but his salary will be the practice squad rate which is much lower than the rookie active roster rate.

Correct. It was a Mon-guaranteed contract contingent on making the 53. He does keep his signing bonus along with whatever money they get to be in camp. Unsure if there is any signing bonus for practice squad other than perhaps moving expenses.

Practice squad Minimum is $13,000 a week. So he will make roughly $234,000 if he stays on all year.

Not bad for a little over 4 months.

Quite a bit more than a working sector job in Montana for sure, even in financial engineering!

He's worked so hard for a chance. Really hoping the best for him! He's easy to root for!

The fees players in all the major professional sports leagues have to pay the owners/organization is astronomical. I bet, including taxes, they only take home about 55% of that.

What fees are they paying to their teams Tom? I follow closely and have never heard of that.

Agents. My understanding is that they have to pay for all their equipment. Just about everything the team does for them, such as meals, rooms, PT, etc.

***Upon further review…that doesn’t appear to be the case anymore, if it ever was.***

Agent fees are paid to the agent, not the team. Those are two completely different entities. Some players, like Lamar Jackson, have chosen to not have an agent so they don't pay any fees. Not very common though.

The players aren't paying for their equipment.

[TomCat88]

I don't know how it all works, but I assume Tommy gets whatever that signing bonus was, and then part of the 4 point whatever million over whatever years... just the pro rated portion for how many days he was on the team? Second question, now does he get a signing bonus with new team, and any idea how much salary.

He should get the Raiders signing bonus but I kind of doubt he got any salary since his was released before the final cuts. With the Saints he might get a signing bonus but his salary will be the practice squad rate which is much lower than the rookie active roster rate.

Correct. It was a Mon-guaranteed contract contingent on making the 53. He does keep his signing bonus along with whatever money they get to be in camp. Unsure if there is any signing bonus for practice squad other than perhaps moving expenses.

Practice squad Minimum is $13,000 a week. So he will make roughly $234,000 if he stays on all year.

Not bad for a little over 4 months.

Quite a bit more than a working sector job in Montana for sure, even in financial engineering!

He's worked so hard for a chance. Really hoping the best for him! He's easy to root for!

The fees players in all the major professional sports leagues have to pay the owners/organization is astronomical. I bet, including taxes, they only take home about 55% of that.

What fees are they paying to their teams Tom? I follow closely and have never heard of that.

Agents. My understanding is that they have to pay for all their equipment. Just about everything the team does for them, such as meals, rooms, PT, etc.

***Upon further review…that doesn’t appear to be the case anymore, if it ever was.***

Agent fees are paid to the agent, not the team. Those are two completely different entities. Some players, like Lamar Jackson, have chosen to not have an agent so they don't pay any fees. Not very common though.

The players aren't paying for their equipment.

I gotta quit using invisible ink.

[cat-o-nine]

Seems strange to me that a player would have to pay taxes in every state they played in. I have worked for an engineering firm in Colorado, branch office in Montana, I did projects in Montana, Washington, Colorado, Georgia, and Michigan and only paid taxes in Montana. I then worked for another firm in Idaho and did projects in Idaho, Nevada as well as in Sweden and only paid taxes in Idaho.

It was my understanding that professional athletes have to file and pay state taxes in every state they play in during a calendar year. I did some research and that appears to be the case.

https://accountinginsights.org/do-athle ... they-play/

So, the question that comes to my mind is how does this project to our newly minted "professional" college players? I would think that if the school is paying them directly for their participation, that may be subject to the same rules. NIL money and other sources might be just subject to the state they live in and receive the money in, but it does seem that all of these funds would be taxable income for the player, right? Any tax accountants out there?

[cats2506]

I don't know how it all works, but I assume Tommy gets whatever that signing bonus was, and then part of the 4 point whatever million over whatever years... just the pro rated portion for how many days he was on the team? Second question, now does he get a signing bonus with new team, and any idea how much salary.

He should get the Raiders signing bonus but I kind of doubt he got any salary since his was released before the final cuts. With the Saints he might get a signing bonus but his salary will be the practice squad rate which is much lower than the rookie active roster rate.

Correct. It was a Mon-guaranteed contract contingent on making the 53. He does keep his signing bonus along with whatever money they get to be in camp. Unsure if there is any signing bonus for practice squad other than perhaps moving expenses.

Practice squad Minimum is $13,000 a week. So he will make roughly $234,000 if he stays on all year.

Not bad for a little over 4 months.

Quite a bit more than a working sector job in Montana for sure, even in financial engineering!

He's worked so hard for a chance. Really hoping the best for him! He's easy to root for!

The fees players in all the major professional sports leagues have to pay the owners/organization is astronomical. I bet, including taxes, they only take home about 55% of that.

What fees are they paying to their teams Tom? I follow closely and have never heard of that.

Agents. My understanding is that they have to pay for all their equipment. Just about everything the team does for them, such as meals, rooms, PT, etc.

***Upon further review…that doesn’t appear to be the case anymore, if it ever was.***

Agent fees are paid to the agent, not the team. Those are two completely different entities. Some players, like Lamar Jackson, have chosen to not have an agent so they don't pay any fees. Not very common though.

The players aren't paying for their equipment.

They still have to pay for anything they want to keep or give away, Jerseys, gloves, shoes, footballs ect...
The team owns it, if they want to give a kid their gloves they got to pay for them.

[MSU01]

Seems strange to me that a player would have to pay taxes in every state they played in. I have worked for an engineering firm in Colorado, branch office in Montana, I did projects in Montana, Washington, Colorado, Georgia, and Michigan and only paid taxes in Montana. I then worked for another firm in Idaho and did projects in Idaho, Nevada as well as in Sweden and only paid taxes in Idaho.

It was my understanding that professional athletes have to file and pay state taxes in every state they play in during a calendar year. I did some research and that appears to be the case.

https://accountinginsights.org/do-athle ... they-play/

So, the question that comes to my mind is how does this project to our newly minted "professional" college players? I would think that if the school is paying them directly for their participation, that may be subject to the same rules. NIL money and other sources might be just subject to the state they live in and receive the money in, but it does seem that all of these funds would be taxable income for the player, right? Any tax accountants out there?

NIL is most definitely taxable income, but I believe the difference compared to pro athletes is that NIL is expressly NOT allowed to be simply "pay for play" compensation. So college players aren't being directly paid to travel to another state and play like the NFL guys are.

[SonomaCat]

Seems strange to me that a player would have to pay taxes in every state they played in. I have worked for an engineering firm in Colorado, branch office in Montana, I did projects in Montana, Washington, Colorado, Georgia, and Michigan and only paid taxes in Montana. I then worked for another firm in Idaho and did projects in Idaho, Nevada as well as in Sweden and only paid taxes in Idaho.

When I worked for accounting firms and had out of state work I had to pay taxes to the other states. I'm guessing your employers just didn't overly document where there employees were every day like mine did. Tommy's situation is common for highly visible (high payroll) companies.

If memory serves, there are certain minimum thresholds that one has to exceed in terms of working in another state before you have to allocate income (and pay tax) in that state. It's been a long time, so I can't remember the rules. But paying taxes in non-resident states is definitely a thing.

[RUACAT]

Amari Cooper announces his retirement from the NFL before the season starts. Did the Raiders picking up Amari play a huge part in Tommy being waived? Do they wish they had him back now that Amari is gone or will they just try to grab another veteran?

[BelligerentBobcat]

Amari Cooper announces his retirement from the NFL before the season starts. Did the Raiders picking up Amari play a huge part in Tommy being waived? Do they wish they had him back now that Amari is gone or will they just try to grab another veteran?

No. They could have easily kept him on the practice squad if they wanted to.