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  #11  
Old 07-30-2019, 02:21 PM
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Originally Posted by Donnie D View Post
As I posted above, its only a good move because Jeff Vinik is willing to pay $2 million out of his pocket to make the team better. Not many owners would be willing to do this.

I hope the financial aspect of this deal is appreciated by the fans.
So true Donnie.

Also it shows that he is not afraid to spend his money in order to let the youth learn a winning tradition.

Several months ago we were all wondering what the Crunch would do for 2019-20 season. If the goaltending was not up to our standards our youth could be learning to lose, something neither he nor anyone wants to see.

This move today shows Mr. Vinik is not about losing.
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  #12  
Old 07-30-2019, 03:00 PM
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Listened to the JBB interview on the trade.

He pointed out that they need the cap space to pay several performance bonuses that they may owe this year. If they don’t have cap space to pay them in 2019 that they have to pay them next year when the cap will be tighter.

So they have cap space to sign Point,Erne and pay out any performance bonuses that they may owe.
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Last edited by Donnie D; 07-30-2019 at 03:09 PM.
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  #13  
Old 07-30-2019, 03:03 PM
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Y'know another facet to this deal is why would Callahan waive to accept this trade? I suppose it's possible that he knows he is getting paid either way, and this inadvertantly helps his buddies on his old team, but I would think this would have a real cash cost to him. Besides the administrative headache of being a US person getting paid by a Canadian organization (two tax returns, etc); that will all get covered by Ottawa I would think.

However, I would think his taxes are going to go up considerably. While his individual rate might not move much, he will have provincial taxes, and higher social security taxes. It wouldn't surprise me if it costs him more than 100K in additional taxes this year (just a guess, I haven't modeled it out or anything). I wonder if part of this was TBL telling him he has a job in the organization once his LTIR is up. I wouldn't be surprised.
Ryan Callahan had a modified NTC so he could be traded without his permission to any one of 16 different teams. I wondered if Ottawa was one of those teams. However JBB thanked Callahan for his cooperation in allowing them to address their cap issues. That would seem to suggest that Ottawa may not have been on the list and that Callahan waived his NTC to allow the trade to occur.

You are correct that his taxes will go up, but the team could have traded him to any number of teams without his permission in high tax states if they were on his 16 team list.
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Last edited by Donnie D; 07-30-2019 at 03:07 PM.
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  #14  
Old 07-30-2019, 03:15 PM
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Originally Posted by Donnie D View Post
Ryan Callahan had a modified NTC so he could be traded without his permission to any one of 16 different teams. I wondered if Ottawa was one of those teams. However JBB thanked Callahan for his cooperation in allowing them to address their cap issues. That would seem to suggest that Ottawa may not have been on the list and that Callahan waived his NTC to allow the trade to occur.

You are correct that his taxes will go up, but the team could have traded him to any number of teams without his permission in high tax states if they were on his 16 team list.
Right. I was operating under the assumption that Ottawa was not on the list. To your second point; while the team COULD have traded him to any team on his 16 team list, there is no guarantee those 16 teams included any who needed to get to the cap floor, or any that would otherwise be willing to take him. Which takes us back to my original point, that Callahan is absorbing a cash cost he didn't necessarily have to absorb.
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  #15  
Old 07-30-2019, 04:28 PM
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This trade speaks to everything about what the Lightning organization is all about. At top is an owner who cares and continually promotes loyalty, quality, continuity, respect and especially patience. He also puts his money everywhere. Callahan obviously will be back in Lightning organization in some facet in one year. BriseBois now created $11.1M in cap space. Still feel Point may take a bridge contract which would really help next year. Obviously Domingue is going to be moved. Could BriseBois be acquiring another D or veteran forward? Gardiner, Williams, Boyle are still available and require only a contract. If you are around all the local rinks you see Lightning alumni everywhere. This area may never produce the number of NHL prospects like St. Louis but it will produce some.
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  #16  
Old 07-30-2019, 04:59 PM
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Originally Posted by dannybolt View Post
Right. I was operating under the assumption that Ottawa was not on the list. To your second point; while the team COULD have traded him to any team on his 16 team list, there is no guarantee those 16 teams included any who needed to get to the cap floor, or any that would otherwise be willing to take him. Which takes us back to my original point, that Callahan is absorbing a cash cost he didn't necessarily have to absorb.
It was confirmed that he was asked to waive his NTC
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  #17  
Old 07-30-2019, 05:07 PM
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Originally Posted by dmaxf9 View Post
This trade speaks to everything about what the Lightning organization is all about. At top is an owner who cares and continually promotes loyalty, quality, continuity, respect and especially patience. He also puts his money everywhere. Callahan obviously will be back in Lightning organization in some facet in one year. BriseBois now created $11.1M in cap space. Still feel Point may take a bridge contract which would really help next year. Obviously Domingue is going to be moved. Could BriseBois be acquiring another D or veteran forward? Gardiner, Williams, Boyle are still available and require only a contract. If you are around all the local rinks you see Lightning alumni everywhere. This area may never produce the number of NHL prospects like St. Louis but it will produce some.
All it takes is ice time, coaching, and competition. All three components are trending upward on the west coast of Florida. (oh, and parent's $$
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  #18  
Old 08-06-2019, 05:43 PM
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Quote:
Originally Posted by dannybolt View Post
Y'know another facet to this deal is why would Callahan waive to accept this trade? I suppose it's possible that he knows he is getting paid either way, and this inadvertantly helps his buddies on his old team, but I would think this would have a real cash cost to him. Besides the administrative headache of being a US person getting paid by a Canadian organization (two tax returns, etc); that will all get covered by Ottawa I would think.

However, I would think his taxes are going to go up considerably. While his individual rate might not move much, he will have provincial taxes, and higher social security taxes. It wouldn't surprise me if it costs him more than 100K in additional taxes this year (just a guess, I haven't modeled it out or anything). I wonder if part of this was TBL telling him he has a job in the organization once his LTIR is up. I wouldn't be surprised.
Are you sure Cally is packing his bags for up north? Might not he stay in Tampa? He won't be playing, so it is possible he never moves north to either NY or OTT and still pays residents income tax in FL, which is zero.
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  #19  
Old 08-06-2019, 05:53 PM
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Originally Posted by 5on5original View Post
Are you sure Cally is packing his bags for up north? Might not he stay in Tampa? He won't be playing, so it is possible he never moves north to either NY or OTT and still pays residents income tax in FL, which is zero.
It doesn't matter if he moves to Canada, NY or Guam, he is still making income in a foreign country, who will tax it (and at a higher rate than the US). His salary for this year will be paid by Ottawa. I don't know expat/impat individual tax, but I held on to this piece from my individual tax class years ago, you only get a break on something like the first 92K income earned in a foreign jurisdiction for US tax purposes, which he will blow by easily. But that's just the US. It doesn't matter where he lives in the US, his income is going to be taxed in Canada, and will likely get tagged with additional Provincial tax and their higher social security in Ontario.

The above is just back of the envelope educated guesswork. Fly probably knows this stuff better than I do though. My specialization is in international tax and transfer pricing and planning for multinational corps, not individual.
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Last edited by dannybolt; 08-06-2019 at 05:56 PM.
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