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re: Official Brice Turang Watch Thread - Updated - Friday @ 4pm Deadline
Posted on 6/11/18 at 9:46 pm to oOoLsUtIgErSoOo
Posted on 6/11/18 at 9:46 pm to oOoLsUtIgErSoOo
You don't get 3mil up front.
1
Posted on 6/11/18 at 9:57 pm to LSUFord
quote:
You don't get 3mil up front
Is it not a signing bonus?
Posted on 6/11/18 at 10:03 pm to oOoLsUtIgErSoOo
It’s usually paid out over a period of a few years. Not all up front.
Posted on 6/11/18 at 10:06 pm to BigBoyTiger
quote:
It’s usually paid out over a period of a few years. Not all up front
Didnt know that.
Posted on 6/11/18 at 10:07 pm to oOoLsUtIgErSoOo
I’m 99.9% sure. Hopefully someone else can confirm.
Posted on 6/11/18 at 10:18 pm to BigBoyTiger
There is an option to receive it in one payment. Obviously its taxed so most of their CFPs and CPAs can coordinate that the agents hold the money and then are dispersed in monthly or even semi-annually installments and the tax is greatly reduced because of this. 90+ % of signing bonuses go that route in MLB. NBA and NFL are much different. EI Bennie Logan told me the other day he got his 2 million dollar signing bonus and the whole reason he went to Tennessee was because of the no state tax.
Posted on 6/12/18 at 5:29 am to oOoLsUtIgErSoOo
quote:Saying chances are he moves up in the draft is being overly optimistic. Kid was drafted in the first round. That limits the potential improvement to moving up within the round he was already drafted in. I'm hopeful this guy makes it to campus, but chances are that doesn't happen.
2. Moving up in the first round allows him to make a lot more money. Obviously, there is no guarantee he moves up in the first round, but chances are he does.
Posted on 6/12/18 at 5:35 am to oOoLsUtIgErSoOo
You can absolutely be set for life with 3 mill.
As long as you arent an idiot and keep a decent paying job, you’ll have nothing to worry about.
As long as you arent an idiot and keep a decent paying job, you’ll have nothing to worry about.
Posted on 6/12/18 at 5:51 am to LsuTool
quote:
and keep a decent paying job, you’ll have nothing to worry about.
Posted on 6/12/18 at 6:00 am to JakeTheTiger
quote:
Saying chances are he moves up in the draft is being overly optimistic.
I don't think its a stretch to think that at all.
Posted on 6/12/18 at 6:53 am to BigBoyTiger
quote:
It’s usually paid out over a period of a few years. Not all up front.
Nobody read that really fun read I linked?
Best option send to be split in two payments, and it can't become a regular type payment without the IRS coming in and saying it's regular income and not a signing bonus.
Likely it's two payments with very specific details like he gets it even if he never plays a game, it's not refundable and something else
Only a fool would get that paid in annuity
He should change his residency away from cali, take 2 mil then and 2.5 later... Or however much he gets
Posted on 6/12/18 at 8:21 am to StTiger
I’m still looking around trying to find how much those players signed for.
Posted on 6/12/18 at 10:30 am to bubbz
Pardon my ignorance, but what is so special about this kid right out of high school? Anyone wanna enlighten me?
Posted on 6/12/18 at 10:37 am to LegendaryTiger
He was named USA baseball’s best player. Bregman won the same award.
More telling...Brice has a wiki page, but Hal Hughes doesn’t.
More telling...Brice has a wiki page, but Hal Hughes doesn’t.
Posted on 6/12/18 at 10:46 am to LegendaryTiger
Think Leonard Fournette of baseball
Posted on 6/12/18 at 10:50 am to LegendaryTiger
Our best hitter this year was a freshman, he was ranked in the 50’s out of all draft eligible prospects last year (college or high school) Turang is ranked in the 20’s this year, he was the #1 prospect last year, his stock just slipped
Posted on 6/12/18 at 1:05 pm to LsuTool
quote:
You can absolutely be set for life with 3 mill.
As long as you arent an idiot and keep a decent paying job, you’ll have nothing to worry about.
True but that's coming from a normal person posting on a sports forum board, not a world class athlete that will be skipping college and banking everything on baseball.
What if he gets hurt during the minor leagues and has to retire from the game? (It happens much more often than you think)
He would have no degree and no skills beyond baseball. That would mean he would have to use that $3 million to live off the rest of his life. But it isn't really $3 million since it is going to be over a few years possibly. Don't forget about taxes too.
So it is safe to say it is going to be 60% of that amount that he gets cash in hand
Posted on 6/12/18 at 1:20 pm to tadelatt
quote:
What if he gets hurt during the minor leagues and has to retire from the game? (It happens much more often than you think)
He would have no degree and no skills beyond baseball. That would mean he would have to use that $3 million to live off the rest of his life. But it isn't really $3 million since it is going to be over a few years possibly. Don't forget about taxes too.
Then he could go back to college and get a degree
Posted on 6/12/18 at 1:22 pm to tadelatt
quote:
banking everything on baseball
quote:
He would have no degree and no skills beyond baseball. That would mean he would have to use that $3 million to live off the rest of his life.
quote:
So it is safe to say it is going to be 60% of that amount that he gets cash in hand
Posted on 6/12/18 at 1:28 pm to tadelatt
Do they now not allow athletes to go back and get a degree if they go straight to the mlb? Is there some rule i dont know about
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