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Dollar valuation causes problems. A US dollar in Canada is not a US dollar in LA.
a US dollar in Toronto is 1.10 or so CN, not that big of a difference?
it is a difference when your talking billions
One solid reason I am convinced that Los Angeles will not receive an NFL team anytime soon is that *LA is too valuable as a threat* for teams to relocate there, in order to extort their current city for a new stadium or other financial concessions. Kansas City used LA as a threat to have their new stadium funded last April with a tax bill for Jackson County.
In the US,$1,000,000 after taxes will net you $673,195 after taxesIn Canada,$1,000,000 after taxes will net you $552,782 after taxes and if you have to convert you get $502,529So just on a $1,000,000 salary a player will lose about $120,000-$170,000. Now imagine a player (like Lance Briggs) getting franchised for 7.5M in Canada. It is not equivalent to getting franchised in Chicago.
Besides LA, probably none. Jax is proving that smaller markets don't work so well.I could see something like San Antonio but the Cowboys may hurt any other franchise going into Texas. Mobile, or Alabama or a "city in the SEC" may work but could have the same problems as the smaller markets.Salt Lake, Sacramento and Portland will end up with the same problems as Jax.Maybe Phoenix could get an NFL team.
Major league players get paid in US dollars when they work in Canada. ie raptors, jays, NHL, etc... so there is no need to convert the salaries, in fact you could add 10 to 15 % in that they would have that much more buying power in Toronto... but you are right with the taxes, but I beleive it is the same in the states, in that if you are in Florida, there is no state income tax etc... So each state does have different tax rates, is this not correct?, and that would affect the individual players bottom line... Therefore the only affect on the players end salary is the tax rate where they play, not if they play in Canada or the US... Am I wrong?
lol funny stuff.. they have been working on a real team for quite a while now!
I would assume that their contract specifies that they be paid in US dollars, but you still need to convert to Canadian if you're living in Canada. But any money lost in the conversion rate is peanuts for these guys.
Not sure where you're getting this info. Toronto is Canada's most expensive city. Only NY (10th in the world), LA (29th), SF (34th), CHI (38th), and MIA (39th) are more expensive to live in then Toronto (47th).
Well the US Federal Income tax maxes out at (I think) 35%. But in Canada your rate continues to rise the more you make. If you make $1,000,000 your rate would be like 44%, $7,000,000 your rate would be 46% and so on. I don't think state income tax rates are that high maybe 2-4%.Another problem that would arise by having a team in Canada is work permits. I know the Flyers one year traded for a guy who was not allowed to play in Canada. What if you got a guy like Ray Lewis on probation that might not be allowed to leave the country. That would be a tough blow for a team to have to miss a player like that.
Anyone who's traveled will tell you that conversion rates are different based on where you convert it. Some places may give you 1.1 other places may give you 1.05. Say you want to convert $100,000 from US to Canadian so you go to a place that converts money. Their rate is 1.15 so you end up with $115,000 Canadian dollars. Now you have a game at Chicago and while at O'Hare you want to convert your money back to US but at O'Hare they are only giving a conversion rate of .79 (instead of .86) you get back $90,000 so you just lost $10,000 by converting the money in 2 different places.
my father handles clients who are performers/athletes/high net worth. a lot of his clients do work in canada. he says that all the talk about currency fluctuations and different tax codes is a lot of hogwash. good business management and tax advice will protect the client every time. totally overblown and misunderstood by most people, according to him.
Amen brutha.The whole idea is incredibly and massively stupid. 32 teams is already overkill. And for crying out loud I'd rather a team based in Tulsa than freakin Canada. They have their CFL.
thats why we have an exchange rate lol.
wouldn't that not show you that your getting ripped off, there is one true exchange rate, individual contractors charge fees in order so they can make a profit, and differnt locations may charge differnt fees, these are things you must be aware of
