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re: Guessing a sports agent has opting out players under contract
Posted on 9/2/20 at 7:58 am to ELVIS U
Posted on 9/2/20 at 7:58 am to ELVIS U
Yes so they going to pay (run a tab) for these kids and family expenses for 6-8 months let’s say it’s $80,000.00. When that signing bonus comes in they will take the money back so when a $150,000 signing bonus for 3rd round comes in, agent going to take his 10% ($15,000) then back out money loaned to him let’s say the $80,000, pay taxes. He will be lucky to get $15,000 - $20,000 after it’s all said and done. And he has to live off that until his checks from the league start rolling in!
1
Posted on 9/2/20 at 8:00 am to Uncs
quote:
Yes so they going to pay (run a tab) for these kids and family expenses for 6-8 months let’s say it’s $80,000.00. When that signing bonus comes in they will take the money back so when a $150,000 signing bonus for 3rd round comes in, agent going to take his 10% ($15,000) then back out money loaned to him let’s say the $80,000, pay taxes. He will be lucky to get $15,000 - $20,000 after it’s all said and done. And he has to live off that until his checks from the league start rolling in!
Wrong if they are taken within the first 70 picks of the draft the agents do not make them pay the money back. Jacob Hester has said this on numerous occasions.
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