Waived: Yurtaikin (cleared)

[LadyStanley]

And he's gone.

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[Cas]

What went wrong with Yurtaikin? Just not skilled enough to make up for his size?

 

[TheWayToRefJose]

What went wrong with Yurtaikin? Just not skilled enough to make up for his size?

Correct. Not skilled enough for a top six role and too small/not physical enough for the bottom 6.
Probably would be good in lesser league/euro ice with more space.

 

[LeeIFBB]

Should change his name to Danil ApparentlyNot.

 

[seroes]

I'm kinda indifferent to him being gone. Best of luck to him though

 

[TheWayToRefJose]

I'm kinda indifferent to him being gone. Best of luck to him though

Can’t blame the guy. He doesn’t have a real chance at making the NHL and AHL salary in the Bay Area isn’t very lucrative due to the cost of living.
Haley said he and 3 other Cuda players had to share an apartment to be able to afford it.

Why would you go live in a foreign country to make way less money when you consider cost of living?

 

[WTFetus]

Can’t blame the guy. He doesn’t have a real chance at making the NHL and AHL salary in the Bay Area isn’t very lucrative due to the cost of living.
Haley said he and 3 other Cuda players had to share an apartment to be able to afford it.

Why would you go live in a foreign country to make way less money when you consider cost of living?

Must’ve been a crazy expensive/unrealistic lifestyle considering Haley had a 6-figure AHL salary starting in 2012. Ferraro’s current complex is like 2-3k a month depending on how many bedrooms you want. That’s easily doable.

 

[TheWayToRefJose]

Must’ve been a crazy expensive/unrealistic lifestyle considering Haley had a 6-figure AHL salary starting in 2012. Ferraro’s current complex is like 2-3k a month depending on how many bedrooms you want. That’s easily doable.

100K is not a lot to live in the Bay Area. Quite the opposite actually. I wouldn’t move there for that.
100K a year for a guy playing for Iowa’s AHL team is going to be a drastic difference in living.

 

[WTFetus]

100K is not a lot to live in the Bay Area. Quite the opposite actually. I wouldn’t move there for that.
100K a year for a guy playing for Iowa’s AHL team is going to be a drastic difference in living.

My point was that it’s enough to still live comfortably, just not lavishly. Especially since Haley’s two-way contracts averaged in the 200k+. Of course it’ll be different compared to living in a flyover state, but it’s not like Silicon Valley is filled with just 1%ers. I don’t know the context of Haley’s quote, I just hope he wasn’t insinuating that he needed roommates to make ends meet.

 

[Munnyro]

They should put the Barracuda in Sac or another decent size town in the area.

 

[TheWayToRefJose]

My point was that it’s enough to still live comfortably, just not lavishly. Especially since Haley’s two-way contracts averaged in the 200k+. Of course it’ll be different compared to living in a flyover state, but it’s not like Silicon Valley is filled with just 1%ers. I don’t know the context of Haley’s quote, I just hope he wasn’t insinuating that he needed roommates to make ends meet.

Danil only made 70k a year on his AHL deal. That would be extremely difficult to live off without roommates. Most places wouldn’t even rent to you as you wouldn’t make 3 times the rent.

Given it was a long shot to crack the big club, I’m sure he’ll be doing a lot better financially playing in the KHL.

 

[WTFetus]

Danil only made 70k a year on his AHL deal. That would be extremely difficult to live off without roommates. Most places wouldn’t even rent to you as you wouldn’t make 3 times the rent.

Given it was a long shot to crack the big club, I’m sure he’ll be doing a lot better financially playing in the KHL.

Again, was just talking about Haley and his roommates comment here.

I don’t fault Danil at all for leaving. Even 70k is doable though, a studio hovers around 2k in the nicer parts of SJ, and those complexes typically require your rent to be 40%-50% of your gross monthly income. But again, I don’t fault him for leaving to reach his earnings potential while still young. My original comment was purely directed at Haley’s comments considering he averaged well over 200k in yearly contracts.

 

[LadyStanley]

They should put the Barracuda in Sac or another decent size town in the area.

Not. Gonna. Happen. While Hasso is owner.

 

[OffSydes]

I remember when the Spiders were around and they were talking to a player and he said he shared a house on the lake with his old team and with the Spiders it was a bunch of them in a small crappy apartment.

 

[OrrNumber4]

Again, was just talking about Haley and his roommates comment here.

I don’t fault Danil at all for leaving. Even 70k is doable though, a studio hovers around 2k in the nicer parts of SJ, and those complexes typically require your rent to be 40%-50% of your gross monthly income. But again, I don’t fault him for leaving to reach his earnings potential while still young. My original comment was purely directed at Haley’s comments considering he averaged well over 200k in yearly contracts.

Interesting. So if your income is too high, you basically are not allowed to rent in certain places?

 

[WTFetus]

Interesting. So if your income is too high, you basically are not allowed to rent in certain places?

It’s only a minimum requirement, not a max.

 

[OrrNumber4]

It’s only a minimum requirement, not a max.

Ah, I understand. You weren't faulting Yurtaikin for leaving but were just disputing the idea at he couldn't afford San Jose on his AHL salary

 

[WTFetus]

Ah, I understand. You weren't faulting Yurtaikin for leaving but were just disputing the idea at he couldn't afford San Jose on his AHL salary

My original intent was purely towards Haley saying he needed roommates to afford to live in San Jose considering his two-way salary was 150k in 14-15 and 200k in 15-16 (and 600k the season prior).

 

[OffSydes]

My original intent was purely towards Haley saying he needed roommates to afford to live in San Jose considering his two-way salary was 150k in 14-15 and 200k in 15-16 (and 600k the season prior).

Remember that they lose money to agents and every state they play a game in.

 

[Barrie22]

Remember that they lose money to agents and every state they play a game in.

Yeah that 150k salary is probably more like 70k after all the deductions.

 

[TheWayToRefJose]

Yeah that 150k salary is probably more like 70k after all the deductions.

I believe Timo just said he “only” takes home 360K for every 1M. He’s also taxed at a higher bracket, but I can see why playing for the cuda wouldn’t be lucrative. It would definitely make more sense financially for the players to be in Sacramento.
Hell, even for the guys on league minimum NHL deals are probably only middle class in the area instead of being upper class like most other teams.

Cant imagine it would be easy to implement without it being exploited some way or another, but having adjusted cap hits based off the local cost of living would probably go a long way for teams in expensive markets.

Or, at least an option for guys in the minors living at/or below the poverty line to be able to have team supplied housing.

For reference, the “poverty” line for the area was 62K a year in 2018, which I imagine has increased since then. I’d imagine most of the cuda players

For comparison, NFL practice squad salary has a minimum of 8400 a week and they probably work around 25 weeks a year, which would be 210K.

 

[one2gamble]

That 360 number can't be right and if it is the agent fees are high enough I'd never use an agent

 

[LadyStanley]

That 360 number can't be right and if it is the agent fees are high enough I'd never use an agent

No, that does sound about right.

NHL has a 15% or so escrow. 5% or so to agent. Not sure what $$ NHLPA takes for "membership" and pension.

35% max federal tax rate.
13.3% max California tax rate. (That's for half the games. The away games are taxed, if applicable, at the various state/local rates of the respective venues. Some states without income tax actual have a jock tax on visiting players! Just using that rate for all games for simplicity. No wonder guys use CPAs recommended by their agents to calculate and file their taxes!)

Social security, health benefits, and other deductions that the common Silicon Valley person would recognize too.


So, that's more than 60% of salary that goes to various things. So a $1m salary would be less than $400k take home. You need to put aside $$ for future, pay for living expenses.

 

[TheWayToRefJose]

No, that does sound about right.

NHL has a 15% or so escrow. 5% or so to agent. Not sure what $$ NHLPA takes for "membership" and pension.

35% max federal tax rate.
13.3% max California tax rate. (That's for half the games. The away games are taxed, if applicable, at the various state/local rates of the respective venues. Some states without income tax actual have a jock tax on visiting players! Just using that rate for all games for simplicity. No wonder guys use CPAs recommended by their agents to calculate and file their taxes!)

Social security, health benefits, and other deductions that the common Silicon Valley person would recognize too.


So, that's more than 60% of salary that goes to various things. So a $1m salary would be less than $400k take home. You need to put aside $$ for future, pay for living expenses.

Exactly. That’s why it’s smart for the wealthy to open businesses. There’s a bunch of tax write offs. I have a friend who’s made 5 mil this year and he just bought a 500K 3D printer as a write off because he still owed 200K in taxes. He bought a new GTR last year for a big purchase for “R and D” purposes. Either use it or give it to the government. There’s a bunch of loopholes for these guys to take advantage of, you just have to pay someone who knows the ins and outs of it to take full advantage.

Timo makes a lot on paper and I’d still like to have his salary, but it’s not as much as you’d think. Especially in the bay. He probably lives a life somewhat similar to the wealthier people you know.

Pavs house in the Bay Area was very nice, but pretty much on par with the upper middle class in most places.

 

[Cas]

No, that does sound about right.

For a league minimum salary of $700,000, with no other income:

State and local taxes of at most $70,000, federal income taxes of at most $200,000, payroll taxes of about $18,000, escrow of $105,000, agent fees of say $35,000, 401k of $18,000 - that's about $442,500 before considering union costs.

For Meier at $4,000,000, the same calculations work out to about $2,470,000 "lost". Given the union costs as well, his estimate of taking home $360,000 of every million is spot on.

Someone like Yurtiakin on an AHL salary, they're losing around 15% and keeps around $60,000. That would be a bit rough to live on alone in the Bay Area.