Albany Empire, owned by Antonio Brown, kicked out of arena league

[CF DolFan]

One of my best friends is the GM for the Orlando Predators so I've been hearing all kinds of crap about Antonio Brown. They finally had enough and actually kicked his team out of the league. He's run them in the dirt in less than a year. Home teams are supposed to pay for visiting teams hotel and he didn't do that for Orlando so I can only guess he didn't for others as well. Richest mofo I've ever known who never pays for anything. That guy needs serious help.


https://www.espn.com/nfl/story/_/id/37858948/albany-empire-owned-antonio-brown-kicked-arena-league

[EDGECRUSHER]

Don't the other owners have to approve someone buying a team? With the way he lives, wouldn't surprise me if he truly doesn't have the money. I think he was always a bit weird but that dirty hit from Vontez that concussed him really did some damage.

I thought removing him as owner would've been an eaiser step than kicking the franchise out but I guess the Arena League doesn't have the legal might that the NFL does.

[CF DolFan]

Don't the other owners have to approve someone buying a team? With the way he lives, wouldn't surprise me if he truly doesn't have the money. I think he was always a bit weird but that dirty hit from Vontez that concussed him really did some damage.

I thought removing him as owner would've been an eaiser step than kicking the franchise out but I guess the Arena League doesn't have the legal might that the NFL does.

I don't know what he wouldn't have any money because he never pays anyone ... hahaha. I saw somewhere the other day that he has earned over 80 million.

[EDGECRUSHER]

I don't know what he wouldn't have any money because he never pays anyone ... hahaha. I saw somewhere the other day that he has earned over 80 million.

$80 Million after taxes is $40 Million. Agents and lawyers and all that is probably another $10 Million.

$30 Million left and while that is enough for any rational human being to live quite comfortably off of, someone like Brown probably owns dinosaur bones and one of those Bitcoin ripoffs that lost 99.999997% of it's value within the last year.

[CF DolFan]

$80 Million after taxes is $40 Million. Agents and lawyers and all that is probably another $10 Million.

$30 Million left and while that is enough for any rational human being to live quite comfortably off of, someone like Brown probably owns dinosaur bones and one of those Bitcoin ripoffs that lost 99.999997% of it's value within the last year.

LOL ... If he's paying 50% in taxes after making 80 million then he deserves to be broke. The top 1% of earners paid an average rate of about 26%.

[Spider-Dan]

Like most pro athletes, AB's primary income stream is earned income, which is taxed at a much higher rate than the income stream of the real top earners in this country (capital gains).

Additionally, many locales have passed tax laws that effectively single out pro athletes for even more taxes: if you travel to play in a game/match in a given city or state, the portion of your contract that is represented by that individual game is considered to be earned in that jurisdiction and is taxed as such.  What this means is that when AB was employed by the Buccaneers in no-income-tax Florida, he was still paying income tax to states he played road games in.  This same dynamic is not applied to other rich people who earn their money from investments in various states.

In general, pro athletes are always going to pay very high taxes.  People on the left like myself want to tax the rich at high rates no matter where their money comes from, and people on the right - who normally oppose high taxes for the rich - have no such sympathy for lowering the taxes of pro athletes who make their money by playing a child's game for a living (unlike people who make their money the respectable way: by inheriting it).  So there is bipartisan agreement on taxing pro athletes to the fullest extent.*

*Just to be clear: my objection here is not at the high taxes that pro athletes pay, but rather that every other millionaire isn't taxed at the same rate they are.

[CF DolFan]

Highest tax brackets I can see are around 40% and that's usually on the amount over $500k or so. Rich people typically write everything off with their tax lawyers so their salary actually looks much lower than it is. That's why I believe few 1%ers  ever pay close to that amount.   

[Spider-Dan]

REAL rich people don't make their money from salary.
They make money from their existing money (capital gains): income which is taxed at a much lower rate than even middle class people pay.

[Fau Teixeira]

Or debt .. they make sure they make very little to no money and finance their lifestyle with debt funding against assets like stocks. You don't have to pay taxes on debt you're paying off.

[Spider-Dan]

It's worth mentioning that income from owning a football team would qualify for the lower tax rates available to capital gains.
But since AB's team has been kicked out of the league...

[CF DolFan]

It's worth mentioning that income from owning a football team would qualify for the lower tax rates available to capital gains.
But since AB's team has been kicked out of the league...

Now the whole investment is a loss which makes it a write off doesn't it?