The Money or Your Name on the Cup?

[Elwood 0]

Name. Closest thing to immortality I can think of.

-E

[cabreezy 0]

As an extension to this question, how does everyone feel about team loyalty and being a franchise player? Like Stevey Y, Mike Modano, and potentially Rick DiPietro and Sidney Crosby. Lets take for example Mats Sundin, if you haven't won a cup but have been on a single franchise for a significant amount of time, would you give up on them and leave them to go to a cup contender if the opportunity been presented to you?

[Smitty34 0]

I would probably stay put because I would rather be able to settle down in one city than move around. Also, there is no guarantee that the other team would win the Stanley Cup.

[kosydar 0]

As an extension to this question, how does everyone feel about team loyalty and being a franchise player? Like Stevey Y, Mike Modano, and potentially Rick DiPietro and Sidney Crosby. Lets take for example Mats Sundin, if you haven't won a cup but have been on a single franchise for a significant amount of time, would you give up on them and leave them to go to a cup contender if the opportunity been presented to you?

The difference between Sundin and those other guys is that he is European. I hate to get into the stereotype game but it seems like North Americans place a much higher emphasis on the Cup than Europeans do. If Sundin really wanted to win for the sake of winning, he'd have gone somewhere at the deadline last year. To him it simply is about more than that.

[razrbladz12 0]

I would probably stay put because I would rather be able to settle down in one city than move around. Also, there is no guarantee that the other team would win the Stanley Cup.

Another good point. I can't imagine Sundin going anywhere else than Toronto. I especially can't see him leaving to go to a rival like Montreal. I hope he stays put in Toronto and ends he career there.

[UMWhockey 0]

I would take the cup. Lets say I do that and make $1mil a year for 2 years before an injury ends my playing days. Having played in the NHL and having a cup to my name can get me jobs in the sport at some level. As long as you are not stupid with your money from playing (which a lot are) then I think you could manage to live a normal life. Start a hockey school, coach a Jr team, or be a hockey director at a rink. Really if you use the money you made and have say half of it left, really you are looking at about 20 years of income before you take in to account any job you take outside of hockey. Also, do the players have insurance for their contracts in case of this sort of injury? I know OV had to have his contract insured before he played in the Worlds.

Maybe i am over thinking it a little, but give me $500K - $1m after two years of hockey and living a good life and I can make that work if I have my name on the cup or even two years and 100+ games in the NHL under my belt.

[Jason Harris 31]

This was in today's Boston Globe:

Hossa fielded multiple bids, including one, agent Ritch Winter told the Canadian Press, that had the elite right winger leave $85 million on the table. If true, that's a number that exceeds some NHL expansion fees in the '90s (guess that salary cap thing really isn't so bad). Word around the league is that the Oilers really pushed the number. One source had Edmonton offering seven years at $9 million per, while another had the money the same, but for nine years (total $81 million).

That's a lot of guaranteed money to give up, but it's obvious Hossa is putting a huge premium to winning the Cup, considering he's leaving the runner-up. However, I would imagine that part of his thinking is he could make up a lot of the "lost money" with a contract next year, assuming he stays healthy and plays at a similar level to what he has in the past.

[JJ Thompson94 0]

There was a stat I read in ESPN the mag, that 60% of NBA players are bankrupt 5 years after retirement. Granted it is the NBA, but the article mentioned Evander Holyfield and Darren McCarty. Plus, look at Jordan's and Jagr's little gambling problems. When your making say $5 million a year and you live like it, it's pretty hard to live like a regular person after being RICH. Not to mention...Not to call professional athletes stupid, but these are people that spent their lives perfecting a craft. Not many of them spent too much time paying attention in school. When they were forced to go to school, I'm sure they had a lot of help just passing because of their athletic talent. When buisnessmen and lawyers and doctors and yada yada make millions, these are smart people that know how to make money and know how to manage their money and invest their money properly. When you give a "stupid" athlete millions of dollars, what do you expect. I totally understand why these guys would go for as much money as they can, hopefully they know how to spend it.

[mack 44]

Not surprising. I remember ESPN having an article about Ron Artest after his rookie season and he saved something like $3 after his first season.

[RadioGaGa 162]

Not surprising. I remember ESPN having an article about Ron Artest after his rookie season and he saved something like $3 after his first season.

$3Mil is pretty good...oh...wait...n/m.

[JR Boucicaut 3797]

Didn't Ron Artest apply for a job at Circuit City during the summer so that he can get a discount?

[Drewhunz 3]

Before his rookie season, Artest applied for a part-time job at a Circuit City outlet in the Chicago area. But the Bulls stepped in before he could begin work ... and benefit from the employee discount.

[mack 44]

That's like Gilbert Arenas (I think it was) begging Nintendo to send him a Wii.

[kilner 0]

Money pays the bills. My name on a cup doesn't

[wildebeest 0]

The money.

Your name is on the Stanley Cup? Well La-Dee-FREAKIN-DAH!! You know what that and fifty cents'll getcha? A hot cup of JACK SQUAT!!!

/matt foley

[stock07 1]

Money pays the bills. My name on a cup doesn't

I agree...

[chippa13 1844]

Money pays the bills. My name on a cup doesn't

But getting your name on the Cup pretty much guarantees the money to follow. Guys who win the Cup always see their value rise.

[chippa13 1844]

There was a stat I read in ESPN the mag, that 60% of NBA players are bankrupt 5 years after retirement. Granted it is the NBA, but the article mentioned Evander Holyfield and Darren McCarty. Plus, look at Jordan's and Jagr's little gambling problems. When your making say $5 million a year and you live like it, it's pretty hard to live like a regular person after being RICH. Not to mention...Not to call professional athletes stupid, but these are people that spent their lives perfecting a craft. Not many of them spent too much time paying attention in school. When they were forced to go to school, I'm sure they had a lot of help just passing because of their athletic talent. When buisnessmen and lawyers and doctors and yada yada make millions, these are smart people that know how to make money and know how to manage their money and invest their money properly. When you give a "stupid" athlete millions of dollars, what do you expect. I totally understand why these guys would go for as much money as they can, hopefully they know how to spend it.

At least NHLers, for the most part, don't have a huge posse or a kid in every city to support. Also, there are plenty of dumb businessmen, lawyers, and doctors who make millions. My biggest fear is getting the doctor or lawyer who was the "C" student.

[JJ Thompson94 0]

There was a stat I read in ESPN the mag, that 60% of NBA players are bankrupt 5 years after retirement. Granted it is the NBA, but the article mentioned Evander Holyfield and Darren McCarty. Plus, look at Jordan's and Jagr's little gambling problems. When your making say $5 million a year and you live like it, it's pretty hard to live like a regular person after being RICH. Not to mention...Not to call professional athletes stupid, but these are people that spent their lives perfecting a craft. Not many of them spent too much time paying attention in school. When they were forced to go to school, I'm sure they had a lot of help just passing because of their athletic talent. When buisnessmen and lawyers and doctors and yada yada make millions, these are smart people that know how to make money and know how to manage their money and invest their money properly. When you give a "stupid" athlete millions of dollars, what do you expect. I totally understand why these guys would go for as much money as they can, hopefully they know how to spend it.

At least NHLers, for the most part, don't have a huge posse or a kid in every city to support. Also, there are plenty of dumb businessmen, lawyers, and doctors who make millions. My biggest fear is getting the doctor or lawyer who was the "C" student.

Imagine being an average 2nd to 3rd line player. Say you break into the NHL at 21 and your first contract is 4 years $500,000 a year. Finally at 25 you sign as an Restricted FA for about 4 $1.5M a year. Then you get your big break at 29 and sign a 6 year deal at $4M a year. At 35 after breaking down a bit you sign a contract for 2 years at $1Ma year. Then you retire at 37.

All together after playing 16 years in the NHL you have accrued a whopping $34 Million. But wait... 40% goes to uncle sam. Thats $13.6 Million to the great US of A. That leaves you with $20.4 Million. But wait... 10% goes to your agent. Thats $3.6 Million to your buddy. That leaves you with $16.8 Million.

Bam just like that we went from $34 Million to $16.8 Million with just two expenses. Now this is where my example can get blurry cause I don't really know how much money rich people spend in a year. Now lets just say, this guy gets married at 30 and has a kid at 32 and 33.

The first 9 years of his career according to the above salary, after agent and taxes, he made $6 Million. Lets say in those 9 years he lives a flashy young lifestyle with sick cars and houses, girls, clubs and everything else but still manages to save 15% of what he made.

After that he is left with $1.8 Million in the bank. He gets married and has kids and settles down. Over the next 7 years of the above contracts he's slated to earn $11 Million after taxes and agent. He still lives like a rich guy, but manages to save 20% for 5 years and then 25% for the last 2 years.

After retirement at 37 this guy is left with $1.8M + $2M + .25M= $4.05 Million in the bank. That means that if this guy dies at say 85. This person has to live on $4 million for 48 years. With decent inflation being around 3% over every 10 years. Those $4 million are losing value anyway.

I gave this guy a pretty resonable saving plan. Many dumb athlets don't save money like that, I didn't give this guy any investments such as businesses or houses. Most athletes don't have any anyway. He'd probably have more because he would take out a morgage on his houses (stupid) but at the end of the day would pay more. Then he'd use credit cards and have crazy %. Whatever, I gave just a rough look but thats the idea. Imagine a nasty divorce settlement without a prenup. YIKES!!! Plus those medical bills can add up after the team stops paying for it.

If I can trade lives with this imaginary NHLer I would in a second. To live on $4 Mil isn't bad, I may never see money like that in my life, but the point is to show you how gross money mismanagement can leave you with a lot of nothing later in life. Many of these guys have nothing to fall back on because they have no education. Even though they are dumb athletes, I think many of them are smart enough to know how stupid they are. And, I for one don't see anything wrong with them trying to get as much money as they can while they still have a good paying job. DO YOU REALLY WANT TO END UP SELLING YOUR STANLEY CUP RINGS JUST FOR FOOD?

[chippa13 1844]

You forgot to factor in the laughable NHL pension and the fact that the $4 million he saved has been and will continue to, at the very least, earn interest.

[gxc999 7]

I have to agree with what some of the previous posters have said. If you're talking about playing for a last place franchise that will pay you $9m a year and a cup contender for $2m, you have to snag the money while you can. However, if we're talking about $5.5 v $4.9 with a real shot at a title, I'd be willing to trim my salary 15-20%.

Winning the Stanley Cup is the greatest thing ever, but you can't live on infamy alone.

[chippa13 1844]

I have to agree with what some of the previous posters have said. If you're talking about playing for a last place franchise that will pay you $9m a year and a cup contender for $2m, you have to snag the money while you can. However, if we're talking about $5.5 v $4.9 with a real shot at a title, I'd be willing to trim my salary 15-20%.

Winning the Stanley Cup is the greatest thing ever, but you can't live on infamy alone.

I know it was the Olympic gold, but Mike Eruzione would beg to differ.

[JR Boucicaut 3797]

Agreed - he milked that thing hard.

[RadioGaGa 162]

Agreed - he milks that thing hard.

Isn't that more accurate?

I know, I know...Paul Henderson scored a goal once, and we never let it go either *L*

[DarkStar50 679]

Yeah, but Eruzione did score the goal. He put up with Brooks' bs for a year. He paid the price. He earned it. If you did it and no one else did it, then go ahead and earn a living from it.