Breaking: DeShawn Sims Signs With Greek Team PAOK
Peedi3416 Yes Yess RT @umhoops: You sign a contract somewhere? RT @Peedi3416: I'm a million dollar man now....Wow
Peedi3416 Tax Free.....
umhoops True. Just saw that. RT @michigancyclist : "Tax free" would indicate overseas.
Looks like Peedi's heading overseas. Here's hoping he tears it up and shows his value enough that he gets picked up by an NBA team when his contract is up.
[Edit: Greek team PAOK (Panthessalonikeios Athletic Constantinople) has announced that they've signed Peedi.]
Tax free might also mean Miami.
...or Orlando. We shall see.
He still has a federal income tax in Miami. No state income tax though.
Hopefully I don't have to like the Heat now.
He still has to pay federal income tax no matter what if he is a U.S. citizen.
He was born in New Zealand and remains a citizen of that country.
I'm guessing he means his salary after taxes. If he's playing in Europe he won't be taxed any less than here.
i would assume that's where he headed
Some international clubs offer contracts that are after-tax and they also pay for housing, foodt, cars, etc. I would imagine that's what he's talking about.
As I understand it, an American player in Europe does not pay taxes on his income. He would have to remain there for something like 11 of the 12 months. I know this isn't terribly specific. Friends of mine played overseas and that was the case.
will have something to say about that.
It's possible players are offered a gross-up, meaning that the organization pays the tax bill. But you can't escape income tax.
Is one of your friends James Voskuil? (You're from the GR area, right?)
mgo[gum]shoe
August 3rd, 2010 at 10:07 PM ^
And this is why Manny made the right decision.
If Peedi is a million dollar man, we can probably expect something similar for Manny. Good for Peedi and hopefully Manny finds similar financial security.
his draft stock. If Manny game back, improved, and was then drafted by an NBA team, then it's still a live question. I don't know the answer, but if getting signed to play in Europe always makes it a wise decision to leave college, then that's a fairly low standard.
...to indicate that Greek team PAOK (Panthessalonikeios Athletic Constantinople) has announced that they've signed Peedi.
I'd been looking the last 2 days at all the Euro bball blogs trying to find where he signed. I guess it didn't come out until today. If he truly is a "million dollar man" then he will make about 4 times what he would playing for the Celtics. NBA minimum rookie Salary is about 450K, so about 250K after taxes. European salaries are net, so 1 million dollars would be his take home pay. Plus they give you a free house/condo to stay in and a car among other amenities.
Congrats to Peedi.
And they told him there was no worse economy than Detroit.
/sarcasm