Bison in the NFL

[MankatoBison]

I think the highest tax bracket when he signed was 37% federal...not sure if he pays Wisconsin state tax on that, or if he pays state tax on his "permenant residence state" or both?
It's alot, but you could put 3 million in an index fund and forget about it and be quite well off at his young age if you wanted to. Not the best way to invest millions, but certainly safe and reliable over a couple decades.

I'd imagine these guys have financial dudes working for them that get them much better investments and returns as well as tax guys to hit every loophole in the tax laws to reduce the amount they pay.

Most DONT, based on how many ex-NFLers end up hitting poverty later in life. I work with hundreds and hundreds of clients who make hundreds of thousands, and millions dollars less than an average NFLer over a lifetime, and I believe the senior citizen poverty rate for NFLers is actually disproportionately higher than Jo-Schmo american.

[El_Chapo]

NDSU 11 guys in NFL, Many of them playing Prominent Roles on teams: This is AWESOME!!

Wentz/Lance - Starting QB
Turner - Solid OL starter
Board/Cox - LB starters
Haeg - OL Starter time to time
Ellefson - TE on running packages
Tuskza - Pass rusher
Radunz - in and out
Stick - Back up QB
Z Johnson - PS

hoping they are all back & add Watson/Volson for 13 NFL active players. that's crazy!

[El_Chapo]

Wentz, Stick, Lance, Turner, Board, Cox, Haeg, Ellefson, Tuskza, Radunz, Zach Johnson, Watson, Volson, Thomas, Babicz

15 on NFL ROSTERS ON 5/1/22. WOW
(Shepherd usfl...)

[THEsocalledfan]

Wentz, Stick, Lance, Turner, Board, Cox, Haeg, Ellefson, Tuskza, Radunz, Zach Johnson, Watson, Volson, Thomas, Babicz

15 on NFL ROSTERS ON 5/1/22. WOW
(Shepherd usfl...)

That has to be a high for NDSU....many G5 teams would be crazy jealous. So, let's list those likely to stick to active rosters this year (I do realize some others may make practice squads, including Shep). I got:

Wentz
Stick
Lance
Turner
Board
Cox
Haeg
Tuskza
Radunz
Watson
Volson

Ellefson will also have a legit chance to stick, but I'm sure it will be tough. Even without Ben, that is 11 guys!

[mtoutfitter]

Counting Ellefson and Zack Johnson (Practice Squad) and assuming Volson makes the team. That's 8 NFL players on the 2019 team. With an UDFA in Babiscz and guys who will get a shot like Gindorff, Luepke and Waege still on the team. Should've mentioned Cody Mauch as well.

[reformedUNDfan]

Zack Johnson is still playing?

[THEsocalledfan]

Zack Johnson is still playing?

I did no look this up, but think he was on a practice squad at the end of last year.

[El_Chapo]

I did no look this up, but think he was on a practice squad at the end of last year.

he was at Denver OTA just last week

[DAS BISON]

Counting Ellefson and Zack Johnson (Practice Squad) and assuming Volson makes the team. That's 8 NFL players on the 2019 team. With an UDFA in Babiscz and guys who will get a shot like Gindorff, Luepke and Waege still on the team. Should've mentioned Cody Mauch as well.

What's awesome is there are so many NFL Bison and future NFL Bison that we forget who is where and names.

[kab1one]

Most DONT, based on how many ex-NFLers end up hitting poverty later in life. I work with hundreds and hundreds of clients who make hundreds of thousands, and millions dollars less than an average NFLer over a lifetime, and I believe the senior citizen poverty rate for NFLers is actually disproportionately higher than Jo-Schmo american.

The reality is, taxes aren't the problem, spending is the problem. As for taxes. Let's say $2 million the first year. $1.5 million in signing bonus, $500k of salary. Signing bonus is taxed to the state of residency. So many times the athlete will have Florida for example as state of residency versus Wisconsin. No state taxes. Saves 10% or $150,000. Federal taxes will be 37-38% range.


The signing bonus net of taxes will be $950,000.

The annual salary will be taxed to the state the team is located. In Watson's case Wisconsin. 50% gone in taxes. Net $250k. year 1 income $1.2 million net of taxes. When you play outside of the home state you are taxed in the state you play and get a credit for the taxes paid to visiting game state on his Wisconsin return. Thus for the game in Minneapolis, he is taxed on 1/16th or 17th now of his taxes by Minnesota. $30k of Minnesota income pays about $2,500 of tax to Minnesota, Wisconsin tax is lowered by that amount.

Someone playing for Tampa, Miami, Jacksonville will not pay taxes on 1.2 there game income. So a potential 75-100k savings versus a player from Wisconsin or Minnesota.

But getting back to the main point. It isn't the amount of tax, but the spending. Player makes a major portion of his income in the year of signing the contract. In this case 1.2 million. The mind set of said person, pro athlete, doctor, engineer, lottery winner is "I am making $1mm plus, thus I am spending accordingly". Whereas in reality they are making $250k after taxes. that is what they should base the lifestyle on, but human nature they don't.

As a result, you start buying multiple cars, homes (1 for the parents), you pay for everything for your entourage. $250k does not last long. But hey, I'll have a long career. So lets finance some of the purchases. And pay it off over 5 years. Well since my payment has gone down, I have more of the $250k left over, lets get a Florida house and car as well. Your debt has just doubled.

I haven't even gotten into the bad business deals these people will enter into. Again not only athletes, Doctors, Mircosoft employees, farmers. If you have money, people will present "opportunities" to make more money. Then things really go south.

A couple of local athletes, although they didn't make the big money with their NFL careers, they were smart. Signing bonus, the big checks, invested very conservatively. Did not touch it. Lived on the game check and also saved a portion of that. Secondly in both cases both are working locally.

In cases like Carson and Billy Turner, the fact their career earnings and signing bonus' have been so large. Hopefully they have saved enough they will never have to do a real job. In just seeing Billy Turner's house listing from Green Bay, it tells me he has a modest lifestyle and has probably saved a good chunk of money. When you have the big house and flashy cars, that means money is being spent and financial issues will probably soon follw.