Go to Texas for NIL.
Or go to Iowa State for a payday.
Your choice.
Or go to Iowa State for a payday.
Your choice.
NFL: Brock Purdy is Getting Paid
- Thread starter SaraV
- Start date
That was actually quite a nice comment.
100%, that’s the market. It’s not like either of them are getting a gift here. I do think that they have added value because the GMs know that they won’t ever do anything to embarrass the franchise. And that the money isn’t going to affect their work habits.
You make a great point. There's a huge element of risk when a team commits many millions to a franchise player. The owners and GMs know that element of risk is minimized when you commit to someone with the character of a Brock Purdy or a Tyrese Haliburton.
Not sure if this has been posted, but Purdy can in a way thank an Iowa QB for being Mr (ir)relevant
I thought it would be fun to attempt to calculate what a bi-monthly paycheck would look like.
Assumptions:
Gross Annual: $53,000,000.
Fed Tax (37%): $19,610,000. Married, filed jointly.
CA State Tax( 13.3%): $7,049,000
SSN (6.2% max limit ??): $176,100 (max limit)
Medicare (1.45%): $768,500
NFL 401K contribution (26K max). Match 2-for-1
_________
Total annual tax & whithold = $27,629,600
24 paychecks = $1,057,100 bi-monthly paycheck
Assumptions:
Gross Annual: $53,000,000.
Fed Tax (37%): $19,610,000. Married, filed jointly.
CA State Tax( 13.3%): $7,049,000
SSN (6.2% max limit ??): $176,100 (max limit)
Medicare (1.45%): $768,500
NFL 401K contribution (26K max). Match 2-for-1
_________
Total annual tax & whithold = $27,629,600
24 paychecks = $1,057,100 bi-monthly paycheck
Albert Breer goes into depth about Brock Purdy’s extension:
“Going into the 2024 season, and coming off Super Bowl LXIII, agent Kyle Strongin asked Purdy if he wanted to discuss his priorities for the life-changing second contract he’d be eligible for in 2025. The 49ers quarterback said he’d rather lock in on football and cross that bridge after the year.
Things didn’t exactly go to plan thereafter. While the Niners finished fourth in total offense and Purdy was seventh in QBR, the team collapsed under a rash of injuries and finished the second half of the season 2–6. A cap purge followed. But the team’s plan at quarterback didn’t relent.
Strongin told Purdy before the combine to be prepared to get a deal done on the first day of training camp. Part of that is just how these things go, and part was probably what the Niners went through the past few summers with Deebo Samuel, Nick Bosa and Brandon Aiyuk. John Lynch said early on he wanted to avoid that with Purdy, after the sides had their initial meeting in February, that seemed to be the course set.
Yet, here we are now, with a deal, two months ahead of schedule.
That isn’t to say this all happened in a straight line. The Niners made the first move, asking Purdy’s side to make the trip to Santa Clara for an initial negotiating session. The second meeting happened over dinner at the combine at Indianapolis’s iconic St. Elmo Steak House, where a few things were established.
In the first meeting, the Niners got their point across that they weren’t going to break records with the contract. At the second meeting, in Indy, it was established that Purdy’s side wasn’t going to do a deal that didn’t have strong cashflow, structure and guarantees, things that would affirm that he was San Francisco’s guy for the foreseeable future.
The result? There was a lot of work to do.
The following breaking point came with the start of the offseason program. The Niners have been through the game of players in contract disputes skipping the spring before. In this case, with it being a quarterback, and to avoid that, that particular checkpoint in the calendar pushed movement, with Strongin and San Francisco cap chiefs Paraag Marathe and Brian Hampton, who actually worked together in 2008 and ’09 when Strongin was a scouting assistant, finding compromises.
As such, Purdy, who didn’t want things to get ugly, reported for the offseason program. That brought the unspoken acknowledgement that talks had gotten serious, with Hampton and Strongin working together to get there, and there was a deal to be executed.
At the end of last week, Strongin called Hampton looking for one last concession, promising a deal if Purdy got it. Hampton called Marathe, John Lynch and Kyle Shanahan, who were on a golf trip, and the five-year, $265M deal was pushed over the goal line. The deal didn’t break records on the Niners’ side of the line. On Purdy’s side, it did, more or less, commit the Niners to the foreseeable future.”
Key points:
• The contract has $165.05M in new money over the first 3 new years, which edged out a metric Jared Goff’s deal last year. That means he’ll get $170.14M over the first 4 years of the deal. Goff’s deal was an important comparison because both sides saw it as one that didn’t break records, but did well by the player in many different ways
• He gets $215M in new money over the first 4 new years, which means he’ll make $220.3M over the first 5 years of the deal
• That leaves $50M in 2030, the final year of the 6-year, $270.346M deal, which tells you this isn’t a heavily back-loaded deal with a bloated number at the end to make it look prettier—something Purdy’s camp wanted to avoid. By comparison, he’ll make $55.05M in '28 and $49.95M in '29
• Purdy gets 62% of his money in the first 3 years, which tops the cashflow in most of the richer quarterback contracts done
• Purdy got a no-trade clause, which was off the table initially, and a first for the 49ers
via: @AlbertBreer
“Going into the 2024 season, and coming off Super Bowl LXIII, agent Kyle Strongin asked Purdy if he wanted to discuss his priorities for the life-changing second contract he’d be eligible for in 2025. The 49ers quarterback said he’d rather lock in on football and cross that bridge after the year.
Things didn’t exactly go to plan thereafter. While the Niners finished fourth in total offense and Purdy was seventh in QBR, the team collapsed under a rash of injuries and finished the second half of the season 2–6. A cap purge followed. But the team’s plan at quarterback didn’t relent.
Strongin told Purdy before the combine to be prepared to get a deal done on the first day of training camp. Part of that is just how these things go, and part was probably what the Niners went through the past few summers with Deebo Samuel, Nick Bosa and Brandon Aiyuk. John Lynch said early on he wanted to avoid that with Purdy, after the sides had their initial meeting in February, that seemed to be the course set.
Yet, here we are now, with a deal, two months ahead of schedule.
That isn’t to say this all happened in a straight line. The Niners made the first move, asking Purdy’s side to make the trip to Santa Clara for an initial negotiating session. The second meeting happened over dinner at the combine at Indianapolis’s iconic St. Elmo Steak House, where a few things were established.
In the first meeting, the Niners got their point across that they weren’t going to break records with the contract. At the second meeting, in Indy, it was established that Purdy’s side wasn’t going to do a deal that didn’t have strong cashflow, structure and guarantees, things that would affirm that he was San Francisco’s guy for the foreseeable future.
The result? There was a lot of work to do.
The following breaking point came with the start of the offseason program. The Niners have been through the game of players in contract disputes skipping the spring before. In this case, with it being a quarterback, and to avoid that, that particular checkpoint in the calendar pushed movement, with Strongin and San Francisco cap chiefs Paraag Marathe and Brian Hampton, who actually worked together in 2008 and ’09 when Strongin was a scouting assistant, finding compromises.
As such, Purdy, who didn’t want things to get ugly, reported for the offseason program. That brought the unspoken acknowledgement that talks had gotten serious, with Hampton and Strongin working together to get there, and there was a deal to be executed.
At the end of last week, Strongin called Hampton looking for one last concession, promising a deal if Purdy got it. Hampton called Marathe, John Lynch and Kyle Shanahan, who were on a golf trip, and the five-year, $265M deal was pushed over the goal line. The deal didn’t break records on the Niners’ side of the line. On Purdy’s side, it did, more or less, commit the Niners to the foreseeable future.”
Key points:
• The contract has $165.05M in new money over the first 3 new years, which edged out a metric Jared Goff’s deal last year. That means he’ll get $170.14M over the first 4 years of the deal. Goff’s deal was an important comparison because both sides saw it as one that didn’t break records, but did well by the player in many different ways
• He gets $215M in new money over the first 4 new years, which means he’ll make $220.3M over the first 5 years of the deal
• That leaves $50M in 2030, the final year of the 6-year, $270.346M deal, which tells you this isn’t a heavily back-loaded deal with a bloated number at the end to make it look prettier—something Purdy’s camp wanted to avoid. By comparison, he’ll make $55.05M in '28 and $49.95M in '29
• Purdy gets 62% of his money in the first 3 years, which tops the cashflow in most of the richer quarterback contracts done
• Purdy got a no-trade clause, which was off the table initially, and a first for the 49ers
via: @AlbertBreer
If I'm Brock, I have my primary residence in another state to avoid that Cali state income tax. He likely already does anyway. My guess is he lives in AZ most of the year.
I think professional athletes pay income taxes in the states that they play in. I know I read its that way in baseball. So he's stuck paying CA income tax on home games.
Not sure how it works for bonuses, though.
Sure, he can go with primary residence in Arizona near his parents, second house in Iowa near the In-Laws, and a condo in Santa Clara near the team 49ers facilities.
From what I've read pro athletes pay income tax on game checks in the state the game is played. So when the 49ers play at the Texans in October Brock will owe state tax in Texas.
SSN is 6.2% times $176,100. Total tax would be $10,918. Due to earnings cap subject to tax.
He'll still pay the jock tax on every day he works in California whether that is games, practices, camp, film study or even appearances. For road games he will pay taxes in the road state (and local jurisdiction) for every game, practice and travel day.
I guess Go2Guy should have had a deduction in Brock's bottom line to pay a tax accountant.
That sounds excessively complex.
It is complex, but I can't say as I blame States and local jurisdictions from going down that road. You have players across sports making millions for every day they play in your jurisdiction. Why wouldn't you want a piece of that to offset costs of maintaining teams and facilities.
In addition it isn't just athletes that get taxed like that. If you earn money in other states you are supposed to pay taxes in the states you earn the money. It generally is smaller amounts for the rest of us but they are sure going to make sure the athletes who are often making huge coin aren't slipping through the cracks.
