Hypothetical players contract - how much does a player really net?
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10-20-2012, 02:11 PM
Join Date: Dec 2007
Location: New York, NY
An NHLPA Certified Agent/Agency likely assists represented players in more areas than contract negotiation, ie. financial planning, tax and estate planning, insurance, PR, marketing and endorsements, etc., so their percentages are probably variable and take larger percentages from endorsements than the actual contracts. In a quick search I found that the NFL (<=3%) and NBA (<=4%) have limits on fees taken from player contracts, but nothing immediately on the NHL.
The NHLPA conducted its Executive Board Meetings on June 25, 26, 27, at the Peninsula Hotel in Chicago. I believe that the rate for union dues in this lockout year would have been decided upon at these Meetings:
Section 1. The Executive Board, at one of its annual meetings shall fix for the following year the rate of annual dues for Members of the Association. Special assessments may be levied upon recommendation of the Executive Board and ratification by a majority of the voting Members in good standing.
Section 2. A Member who fails to pay or authorize the payment of his dues shall automatically be suspended from the Association and shall lose all the rights and privileges of membership. A service fee will be deducted from each NHL player's salary even if the player declines membership in the Association. Said fee will beequal to the annual dues of the Association.
Idk if that rate ever becomes publicly available or not, but again, I didn't look too hard for it.
For the calendar years of 2011 and 2012, the employee's share of FICA was reduced to 4.2% of gross compensation, with a limit of $106,800 for 2011 and $110,100 for 2012.
The employee's share of Medicare is 1.45% of wages, with no limit on the amount of wage subject to the Medicare tax.
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