News Article: the Avery rule

[eco's bones]

I am not sure there is a state tax bracket that hits 11%, and there are some states with no tax at all. Not sure what kind of refunds are offered at the highest bracket, but I am sure there are plenty of strategies for these guys to use.

I also understand/agree about not taking anything for granted, but still, suggesting 62k makes up for 12.34m in any way at all is kind of insane.

Well he played in Detroit--which has had a depressed economy going back decades. And then in Los Angeles which is expensive and California has gone bankrupt a couple times and living in NYC is pretty expensive. Other than that a couple months in Dallas. That was his NHL career. The 50% for taxes might be a bit exaggerated but it's probably not that far off.

Young kids and money managers. I mean--really you're a big shot now to all your friends and you've got a bank account for the first time in your life--and don't know any better--you buy all kinds of ****. That was part of the point of it. But really--even older people--it's a bore to be thinking about money all the time.

Generally I think they get their escrow money back. I'm thinking there's a couple times that they didn't and it might have been around the lockouts and it was a big point of contention. Maybe I'm remembering it wrong. The agent-management fees he claims doesn't really pass the smell test. I wouldn't think that would go much past 10%. All in all though after reading that I got the idea that some of these guys really aren't making as much as I thought.

 

[ReggieDunlop68]

Taxes take about half (if you take no evasive tax action)...

I'm sure the NHL's former bad boy skipped the accountant and made sure he did his civic duty by forking over the entire 50%.

 

[Giacomin]

I miss Sean Avery.

 

[Baby Punisher]

During the MSG renovations the press area was moved into that 3rd floor area that had the two restaurants open to the public on. One game night my ticket agent took me in the press area to show me around and I couldn't believe how well they fed the press. It was amazing. I have no doubt the Rangers players were treated any differently when it came to feeding them and this article confirms that.

 

[NYR2007]

This is the dumbest article I have read in a while.

1. So he said the average NHL career is 5 years. That would be $62k that you would save using the "Avery rule" not 124k.

2. The highest federal tax rate is 39.6%, and let's be real here. There are plenty of perfectly legal tax strategies out there that are utilized by millionaires all the time. The article should have been about that, if anything.

3. Agent fee's were 3%....but somehow management and agent fees add up to 25%? Don't buy it.

4. He suggesting saving $62k to make up for $12.34m of lost money.


I understand the point of the article, but to make the main theme to save your $96 a day, doesn't make sense.

they also pay state tax for every state they play in

 

[Kane One]

Also why am I not surprised that Avery writes an article and the text is interrupted by wallpaper-sized images/photos of himself...

The funniest part, I thought, was Avery wanting to name this so-called rule after himself.

 

[Kane One]

Whatever happened to RangerBoy? I feel like he could explain this salary breakdown for us....

There used to be someone here, RangerGuy, I think, who was an accountant.

 

[ReggieDunlop68]

My favourite Ranger ever, loved him as a player, esp. pre-Torts.

He's your favorite Ranger of all time?

I miss Sean Avery.

With the way we are playing the last few years, why would you miss that clown?

 

[silverfish]

I miss Avery, too.

Have a hard time believing agents take 25% though. If that's the case, I need to find a lawyer friend, and we're going to open a firm that takes like 4%. 5 clients and we'd be well-off enough to retire after a few years

 

[FJB]

I miss Avery so much!

 

[sbjnyc]

they also pay state tax for every state they play in

Better than paying it all to NY. The article is fun read but makes no sense financially.

 

[eco's bones]

Personally I was a fan of Avery's though it got to the point he outlived his usefulness here. IMO though he was still an NHL capable player when his career finished.

The end to his career was partly about Tortorella--he didn't like Avery but/and about that time Torts had his team to a place where they'd come up short of the President's trophy by one point and then they wound up going to the conference finals--so the team was taking real steps towards becoming a contender. It's funny in a sense though that Tort's personality screamed more for look at me than Avery's ever did. That's an opinion. In any case when a coach has his team playing great hockey--it's best to give him leeway in matters of judgement calls. We're not in the locker room seeing it--so....it was obvious Torts was pushing the right buttons (no beer on the flight home if you lose) at the time.

All in all when Avery came to us from Los Angeles that ratcheted the team's overall competitiveness quite a lot. Those first couple years anyway were pretty entertaining. He was not a fun guy to play against. The one thing I never really got is so many people thinking he was a really really dirty player. There was a lot of edge to his edge game but he was extremely good at walking the line without walking over it. I think opponents hated him a lot more for the things he said to them than the things that he actually did. There was not a long line of Avery victims that ever headed to the emergency room. He was no Matt Cooke, Raffi Torres, Patrick Kaleta. Maybe the worst thing I saw him do was sucker punch Ladislav Smid--after Smid challenged him to a fight and then looked away after Avery appeared not to be interested. That was a bit stupid on Smid's part. The one suspension that Avery ever got hit with by the league was for an off the ice incident--talking **** to the cameras about Dion Phaneuf and his ex-girlfriend.

 

[Giacomin]

He's your favorite Ranger of all time?



With the way we are playing the last few years, why would you miss that clown?

I have been a Rangers fan for over 40 years and Sean Avery is easily one of my favorite Rangers of all time!

 

[East Coast Bias]

What is the actual rule? Sign with the Rangers, pocket the per diem, and invest in Hamptons real estate?

I honestly don't see where "the Avery rule" actually appears in this article.

It just seems like story time.

 

[wango55]

Also an Avery fan here. He was one of my favorite players on the team during his stint here. One of my favorite Christmas gifts was a Heritage replica Avery jersey my wife got me when they just came out. Forget the fact that it was NHL.com customization - just the fact that she knew my favorite player was pretty cool enough.

Anyways - yeah agreed the math doesn't quite add up, but the lesson is still there. Not just for hockey players but how many athletes stories have you heard where their money was spent foolishly?

Also - is it just me, or does this article remind anyone else of that scene in 24-7 Road to the Winter Classic where they show Avery eating breakfast and asking the waitress if the OJ refills were complimentary? Classic.

 

[Bleed Ranger Blue]

He'd have more money if he didn't throw his career away.

 

[Gardner McKay]

His math is actually correct if you go by his career average for an NHL player of 5 and a half years then--you'd add in a half year at 1.2 mil to the 12 mil for 5 years.

Anyway the idea of having no alcohol on the plane or bus afterwards if the team lost would turn a lot of people mean. I'm thinking a lot of Sabres and Oilers are underaged as it is--their travel though must be some really sobering experiences.

It is not correct. The 13.2m may be correct but the $660k number is way off. At least, how he presents it makes it look way off.

That's not what he's saying in the article:

"So really, that $13.2 million becomes $660,000"

He's not saying $660K per season is the take home pay, he's saying $660K is the total take home pay on the entire $13.2 million!

He said:

50% goes to taxes
25% goes to 'agent and management fees'
20% goes to escrow (some of which may be returned to the players?)

5% of 13.2 mil = $660K

Does that not seem completely ridiculous that a player's stated salary of $2.4 mil for 5 years and he only walks away with $660K in his pocket out of that $13.2 mil?

I don't buy it...

I am aware of that. It is not true though. I loved Avery as a player but he is a financial idiot.

Players keep more than 5% of their total salary.

 

[Beer League Sniper]

He'd have more money if he didn't throw his career away.

Don't you mean, if he didn't throw his skates into the Hudson???

Seriously though, if he only took home 5% of what he made over the course of his NHL career, either his agent or his accountant skimmed the crap out of him.

 

[BLOCKERSAVE]

I still have the memory of the look Avery gave to Artie in the lock room after Artie scored a goal against Tampa and use his stick to shoot the goalie. Than a ruckus after that. That was priceless!!!

 

[Made Dan]

I still have the memory of the look Avery gave to Artie in the lock room after Artie scored a goal against Tampa and use his stick to shoot the goalie. Than a ruckus after that. That was priceless!!!

2:14

Just the best ****-eating grin you'll see

 

[Uglybstrd]

He's your favorite Ranger of all time?

Yes, and I`ve been a fan since 1995 (yepp,the year after the cup.... )

Always funny to watch Avery on the ice, the best agitator ever I think, at least playing on the Rangers. And he actually wasnt a bad hockey player, he had decent skills. If Glass had just half of Avery`s skills he could call himself a NHL player.

 

[NYRangerFan*]

I love Dubinsky in that video lol, guy was pissed off

 

[Off Sides]

Avery never heard of an IRA or watched Jerry Maguire?

 

[TheTakedown]

I love Dubinsky in that video lol, guy was pissed off

I do miss dubs

 

[Bleed Ranger Blue]

I still have the memory of the look Avery gave to Artie in the lock room after Artie scored a goal against Tampa and use his stick to shoot the goalie. Than a ruckus after that. That was priceless!!!

That was funny.

Until you realize that Avery was a sarcastic dick like that every second of every day and thats tough to deal with for anyone.