Salmons - not going to Raptors, backs out...

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Kings113

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According to the Toronto Star, Salmons has backed out of a 5-year/$23 million US sign and trade deal that would have seen him move from Philadelphia to Toronto. The Raptors were to send the Sixers a second round draft pick in 2007.
''Upon reviewing the basketball situation in Toronto, John decided it's not the best fit for him,'' said a statement released Friday from Salmons' agent, Joel Bell.
On the same day the potential sign and trade involving Salmons was announced, the Raptors signed free agent guard Anthony Parker to a 3-year/$12 million US contract.
''In a very stressful and tough decision, he decided he could not accept the opportunity to play for the Raptors, even though he was excited about the prospect of being in Toronto.''

Earlier this month, Salmons turned down an offer from the Phoenix Suns and yesterday, the Sixers pulled back their qulifying offer, leaving the guard with no place to play heading into next season.
''I'm sorry it didn't work out, I wish him the best,'' Toronto president and general manager Bryan Colangelo said.
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http://www.tsn.ca/nba/news_story.asp?ID=172001&hubName=nba
 
Strange, he picked Toronto over Phoenix and now backs out. I think there's more to this story than they're telling us.
 
I wonder if this is going to impact Bonzi? Let's see, the Raptors have $36,491,506 in salary, plus Bargnani (around $4 million) and they signed Anthony Parker (about $3.5 million to start) So they have about $44 million tied up in salary, giving them around $9 million in room under the cap.

ok, definitely scared now.
 
This might have nothing more to do than with the tax rate. That rate (whatever it is) could also affect Bonzi's willingness to go there.

I know I'm making a big assumption, but I was under the impression that the rates across the border were much higher. Am I right or wrong on that point?
 
NBA players pay tax in EVERY single state they step foot in. It's pro-rated for their salary. The same is true for federal tax. (Meaning every player pays some portion of Canadian tax, I think, since they go into Canada every season.) It's very complicated but Lawrence Funderburke does a pretty good job of explaining it in his book, "Hook Me Up Playa." ( At least, I think it was in his book. I have it loaned to a friend right now, but I can check when I get it back.)
 
Salmons is an idiot, and I have litle use for idiot athletes. Chance of a lifetime for a thoroughly mediocre player. $20+ million dollars. His other suitor having already moved on. And he blows it
 
VF21 said:
NBA players pay tax in EVERY single state they step foot in. It's pro-rated for their salary. The same is true for federal tax. (Meaning every player pays some portion of Canadian tax, I think, since they go into Canada every season.) It's very complicated but Lawrence Funderburke does a pretty good job of explaining it in his book, "Hook Me Up Playa." ( At least, I think it was in his book. I have it loaned to a friend right now, but I can check when I get it back.)
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Yes, but there is a big difference between half your salary (41 games) or the small percentage one or two games makes out of 81. Being out of Country could possibly also impact what write-offs you have available in terms of investments in relationship to where your income is earned. I'm not a tax lawyer so I'm not certain about those. I was just putting taxes as a possible reason of him reconsidering the offer. However, if that is the case his agent blew it by not having him informed.

Either way, it looks like he blew it since his credibility is less than zilch now.
 
i have a feeling this is going to end up like the whole stephen jackson debacle. i forgot how much he ended up playing for after they won that championship. 20+ mill is alot of jack for a player that hasn't proved anything.
 
I guess they liked him for what he'd do in Toronto, assuming he'd get a consistent back-up role or starting role. Since in Philly, he didn't get consistent oppurtunities or minutes, with AI/Korver/Iguodala all ahead of him. He played well when AI has been injured the last couple seasons.
 
whozit said:
Yes, but there is a big difference between half your salary (41 games) or the small percentage one or two games makes out of 81. Being out of Country could possibly also impact what write-offs you have available in terms of investments in relationship to where your income is earned. I'm not a tax lawyer so I'm not certain about those. I was just putting taxes as a possible reason of him reconsidering the offer. However, if that is the case his agent blew it by not having him informed.

Either way, it looks like he blew it since his credibility is less than zilch now.
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My understanding is that the players pay state tax based on the # of games played in each state.

So (for example) teams from the east pay California tax 1x for Sacramento, 1x for LAC, 1x for LAL, and 1x for GS (CA tax on 4/82 of their salary, provided they were on the team and not suspended for the dates those games were held). The Kings players pay CA tax for their 41 home games plus 6 more times for the away games at GS+LA. So taxes could become an issue, especially fo you can go to a team in a state without income tax.
 
Ok, you said it a little more clearer than I tried to. I was thinking Canadian taxes are considerably more higher than US ones (both on a State and Federal level).
 
Yes, and that is one reason that Florida teams have an easy time attracting free agents as well. No state income tax and a nice summer home.
 
nbrans said:
I wonder if this is going to impact Bonzi? Let's see, the Raptors have $36,491,506 in salary, plus Bargnani (around $4 million) and they signed Anthony Parker (about $3.5 million to start) So they have about $44 million tied up in salary, giving them around $9 million in room under the cap.

ok, definitely scared now.
Click to expand...

damn... thats eerie....
 
Bricklayer said:
Salmons is an idiot, and I have litle use for idiot athletes. Chance of a lifetime for a thoroughly mediocre player. $20+ million dollars. His other suitor having already moved on. And he blows it
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smilol.gif
 
Funny thing is that when I heard about what the Raps were going to pay Salmons I thought...."Wow, they really must have to overpay to get someone to come play in Toronto"........:eek:
 
Wow this thread has really bit us Kings fans. We are all saying that Salmons was a idiot for turning down the big $ in Toronto and Phoenix and then Petrie swoops in to get him for 5 yr/$25.5M. Hope this guy proves us wrong and is good...I think we'd see it by his career up this this point though. ;)
 
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