Read it again. The half was to cover taxes, his agent and additional expenses. I have no idea if the article is accurate or not. I suppose the Times gets it right once in a while. I was just merely responding to the ridiculous assertion that 250,000 per year wasn't really all that much money with a conservative analysis and actually backing that point up with some facts(sans profanity). Regards, Martin
Mike Prizy wrote: > Half to his agent? Probably more in the range of 15 percent. Hopefully he does your >investment deal. > I just think he's got more beer money. > > "Martin J. Dixon" wrote: > > > Ok let's assume that he gives up half to his agent, additional expenses and for > > taxes. That's probably excessive but lets go with that. That leaves 125,000US. > > Let's further assume that this thing doesn't start until 2003 and runs for 6 > > years. Let's further assume that he gets no other endorsements or incentive > > bonuses(probably very unreasonable). Let's then apply a discount rate of 5%. > > Doing some VERY QUICK calculations, that contract is worth 629,256 today. Once > > again, assuming a discount rate of 5%, he could buy a 30 year annuity of 40,299 > > per year. On average, approximately half of that would be tax-free. He also > > intends to go to school so there is no reason that he can't get just as good a > > job as he would have got even if stayed at UM and fell flat on his face as far > > as his running goes. It's at least arguable that he made the correct decision > > from a financial standpoint. > > Regards, > > > > Martin > > > > Martin J. Dixon, B. Math. (Hons), C.A., Partner > > Millard, Rouse & Rosebrugh LLP > > Chartered Accountants > > P.O. Box 367 > > 96 Nelson Street > > Brantford, Ontario > > N3T 5N3 > > Direct Dial: (519) 759-3708 Ext. 231 > > Telephone: (519) 759-3511 > > Private Facsimile: (519) 759-8548 > > E-mail: [EMAIL PROTECTED] > > Web site: www.millards.com > > Practice Areas: www.millards.com/htm/profs/m_mjdixo.htm > > > > IMPORTANT NOTICE: > > This email may be confidential, may be legally privileged, and is for > > the intended recipient only. Access, disclosure, copying, distribution > > or reliance on any of it by anyone else is prohibited and may be a > > criminal offence. Please delete if obtained in error and email > > confirmation to the sender. > > > > Michael Contopoulos wrote: > > > > > Does anyone know how much his agent gets? The people who he has handling > > > his finances? etc? After taxes and paying these fees, he won't have as > > > much money as it seems. Not to say its a bad deal. Its a great one. But > > > Mr. Webb, based on his salary, isn't going to be as wealthy as people think. > > > > > > >From: "Martin J. Dixon" <[EMAIL PROTECTED]> > > > >Reply-To: "Martin J. Dixon" <[EMAIL PROTECTED]> > > > >To: [EMAIL PROTECTED] > > > >Subject: Re: t-and-f: Webb "going pro" > > > >Date: Thu, 18 Jul 2002 14:15:01 -0400 > > > > > > > >http://www.washtimes.com/sports/20020718-16634094.htm > > > > > > > >malmo wrote: > > > > > > > > > Nope. malmo "thinks" the amount should cover the risk he takes if/when > > > >the slimy > > > > > John Waters types (agents/shoe geeks) turn their backs on him if/when he > > > >becomes > > > > > just another runner. > > > > > > > > > > malmo "thinks" that amount is all fantasy in the minds of some track > > > >fans. > > > > > > > > > > malmo > > > > > > > > > > >malmo seems to think that if he is making enough to buy his Mom a 5 > > > >million > > > > > dollar > > > > > >house then that is enough. I think we can safely say that is not the > > > >case. > > > > > > > > > > > > > > > > > > > > > > > > > > _________________________________________________________________ > > > Send and receive Hotmail on your mobile device: http://mobile.msn.com -- Regards, Martin Martin J. Dixon, B. Math. (Hons), C.A., Partner Millard, Rouse & Rosebrugh LLP Chartered Accountants P.O. Box 367 96 Nelson Street Brantford, Ontario N3T 5N3 Direct Dial: (519) 759-3708 Ext. 231 Telephone: (519) 759-3511 Private Facsimile: (519) 759-8548 E-mail: [EMAIL PROTECTED] Web site: www.millards.com Practice Areas: www.millards.com/htm/profs/m_mjdixo.htm
