Log In
Register
Topic RSS
11:29 pm
March 9, 2016
Offline
The deal Tunsil signed on Friday is worth about $8 less than what it would have been if he’d gone No. 6 to Baltimore, but not having to pay income tax in Florida evens things out a bit.
On Friday, the Associated Press reported that Laremy Tunsil signed a four-year, $12.45 million deal with the Miami Dolphins.
That figure, of course, would be substantially higher if a certain bong video hadn’t dropped him to the No. 13 overall pick of the draft. It’s safe to assume that without that malicious social media attack, Tunsil would have gone no lower than No. 6 to the Ravens. But Baltimore, still smarting from the PR damage from the Ray Rice debacle, pulled Tunsil off their draft board completely and instead took Notre Dame O-tackle Ronnie Stanley.
Stanley, who as of Monday morning hasn’t yet inked his rookie contract, is projected by Spotrac to sign for four years, $20.48 million—about $8.03 million more than Tunsil.
But there is some silver lining to Tunsil landing in Florida: there’s no state income tax, so his financial losses are blunted significantly.
$3.5M = Amount lost on #NFL contract (after taxes) by Laremy Tunsil falling from #Ravens (6th overall) to #Dolphins (13th overall)
— Robert Raiola, CPA (@SportsTaxMan) <a href="
$3.5M = Amount lost on #NFL contract (after taxes) by Laremy Tunsil falling from #Ravens (6th overall) to #Dolphins (13th overall)
— Robert Raiola, CPA (@SportsTaxMan) May 6, 2016
“>May 6, 2016
How did Robert Raiola come up with that number? Um, probably some complex comparison of local tax laws in South Florida and Baltimore. The dude’s a senior manager at a top-30 accounting firm, so we’re just gonna take his word for it.
And Tunsil may be able to recoup even more of his losses through a lawsuit against the social media hacker, assuming 1) he can identify the hacker and 2) the hacker actually has some money.
“An appellate court would have no problem affirming a verdict in [the $5-16 million] range,” injury litigation specialist Lance Stevens told the Daily Journal. “If the breach was accompanied by an evil motive—and I can’t fathom this hack being just a party gag—Tunsil might also be entitled to punitive damages.”
The hacker having enough money to make the suit worthwhile seems doubtful, though. ESPN says Tunsil’s lawyer and agent are looking into a former financial advisor, but an established, successful business person probably wouldn’t risk their career and freedom to do something so stupid. We’re likely talking about a low-level runner here—Tunsil reportedly fired the guy in the first place because he wasn’t registered with the NFLPA.
Regardless, Tunsil is still a very, very rich dude. And judging from his relaxed press conference after Saturday’s mini-camp practice, he’s not stressing a few mil.
1 Guest(s)
