Chase Edmonds was “very, VERY” close to signing with the Bills this offseason

[K-9]

1 hour ago, DCofNC said:

Still losing 10.9% of all the games you play in NY, all your signing bonus, all you performance bonuses etc.  Its an asinine amount any way you try to justify it.

I wasn’t trying to justify anything. I was merely asking if you had factored in the taxes imposed when playing on the road in states that impose income taxes.  

[DCofNC]

Just now, K-9 said:

I wasn’t trying to justify anything. I was merely asking if you had factored in the taxes imposed when playing on the road in states that impose income taxes.  

Yes, it’s still a major factor.  The AFC East has to be the least appealing, NY, NY, MA taxes. Only relief is Miami. 

[Process]

$6M a year for a pass catching RB? Yea we dodged a bullet on this one. 

[Ridgewaycynic2013]

14 hours ago, Don Otreply said:

Could we stand to have two Edmonds / Edmunds that might not live up to a select few posters expectations, the number of threads stealth or otherwise would be endless 😂

I heard the 'anti Edmunds' stance of many on the message board was the tipping point in Edmonds declining Buffalo.  Edmonds and Edmunds would never be certain over which player was being dissed.  And should you ridicule that, remember that this is a message board that couldn't keep straight whether it was 'McKenzie' or 'McKittrick'. 🤨😇🤔😁

[gjv]

18 hours ago, YoloinOhio said:

Why would any RB want to come to Buffalo if they have options and are trying to maximize future earning potential? It’s like the opposite of when FA WRs didn’t want to come. Of course he likes the fit with McDaniel! He wants a run based offense.

Probably none. It’s not that big of a deal, teams are aware of the tax differences and make up for it in other ways. Plus it’s only relevant for their game checks that they play in NYS. 

How do teams make up for the tax structure in WNY?

[Mr. WEO]

21 minutes ago, gjv said:

How do teams make up for the tax structure in WNY?

 

They don't.  They make an offer, the player and the agent do the math. They accept or not. 

[buffalonian]

Would have been great to have a Fordham Ram playing for the Bills.  

[John from Riverside]

I am totally ok with the way things went down

 

Chase is a good player but the tread on Cook still has most of its warranty left

[Straight Hucklebuck]

I’m glad he didn’t.

 

He got his chance last year to be the #1 and he flopped.

 

Would rather pay a rookie with 21-22 year old legs. 

[Alphadawg7]

I honestly would prefer Cook over Edmunds.  Nothing against Edmunds, but I think Cook has more upside personally.  That being said, I would have been excited to sign Edmunds as well, I think he would have been a good addition here, just like JD would have too.  

 

But overall, I prefer the upside and the cheaper contract with Cook.  I think he is going to play a lot this year and make a big impact on our offense.  

[Andrew Son]

7 minutes ago, Alphadawg7 said:

I honestly would prefer Cook over Edmunds.  Nothing against Edmunds, but I think Cook has more upside personally.  That being said, I would have been excited to sign Edmunds as well, I think he would have been a good addition here, just like JD would have too.  

 

But overall, I prefer the upside and the cheaper contract with Cook.  I think he is going to play a lot this year and make a big impact on our offense.  

The unknown is always more exciting.  But there is much more variance and that could go either way.

[ICanSleepWhenI'mDead]

5 hours ago, gjv said:

How do teams make up for the tax structure in WNY?

 

The team decision about how much of a player's total compensation should be a signing bonus depends on a lot of factors, but from the player's perspective, it would be good to establish residency in a state with low or no income taxes, and get as much of the total compensation as possible in a signing bonus, if the team plays its home games in a high tax state like NY or CA.

 

From http://entertainment-tax-advisors.com/signing-bonus-evaluation/

 

"Signing bonuses are generally allocated to an athlete’s state of residency, rather than the states in which games and practices are held.  As many athletes reside in states with low income tax rates or no income tax rates, proper allocation to a state of residency can reduce overall taxes by hundreds of thousands or millions of dollars.  For example, an athlete residing in Florida (0 percent income tax rate) but playing for a New York team (8.82 percent income tax rate) would incur unnecessary income taxes of over $1.75 million if a $20 million signing bonus is incorrectly allocated to New York instead of Florida."

[BigDingus]

Just watched an interview today where Von Miller was talking about how he was very close to NOT signing with the Bills... going so far as to say he hid in the bathroom once he arrived & was brought in to sign his contract 😅

 

Said he was in there for over an hour, thinking of ways to back out, while coaches would be sent in one at a time to try & talk him out of there... everyone from Leslie Frazier to eventually Sean McDermott (after it had been an hour). His agent, his brother on the phone, all these people he kept telling them "I think I want to stay in LA" & was trying to find a way to apologize to the Bills, even telling them he'd reimburse them for the plane flight.

 

EVENTUALLY he was slowly talked back into things, even citing the practice facilities & field being what helped win him over.

 

A lot of people were unhappy with how he talked about the city (and the food) though. Made Buffalo sound like the dumps, or at the very least, like it was known as such among players & people who hadn't spent significant time there. 

 

 

Edited July 29, 2022 by BigDingus

[Orlando Buffalo]

1 hour ago, ICanSleepWhenI'mDead said:

 

The team decision about how much of a player's total compensation should be a signing bonus depends on a lot of factors, but from the player's perspective, it would be good to establish residency in a state with low or no income taxes, and get as much of the total compensation as possible in a signing bonus, if the team plays its home games in a high tax state like NY or CA.

 

From http://entertainment-tax-advisors.com/signing-bonus-evaluation/

 

"Signing bonuses are generally allocated to an athlete’s state of residency, rather than the states in which games and practices are held.  As many athletes reside in states with low income tax rates or no income tax rates, proper allocation to a state of residency can reduce overall taxes by hundreds of thousands or millions of dollars.  For example, an athlete residing in Florida (0 percent income tax rate) but playing for a New York team (8.82 percent income tax rate) would incur unnecessary income taxes of over $1.75 million if a $20 million signing bonus is incorrectly allocated to New York instead of Florida."

I was unaware of this about signing bonus money but does explain why so many athletes live here in Orlando during the off-season, if you can get your 181 days of residency here then you save a lot of money. If your salary is minimally game checks then whatever city you play for is not nearly as important 

[StHustle]

9 hours ago, DCofNC said:

Taxes screw the teams trying to fill the mid to low level holes and the non-contenders. All things equal, it makes sense to look to low/no income states.  

‘Tis why we are the only NFL team in NYS. And guess what? We still rose to the top baby! A great QB can cover a multitude of sins! If a player rather keep more of his check than play for a real contender than we don’t want em here!

[gjv]

9 hours ago, BUFFALOBART said:

Extreme? Punitive?

Do you even live in NYS?

Yes

[TBBills]

Very glad he didn't sign here.