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Max Pacioretty can't pay bills, apparently

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11-30-2012, 01:04 PM
  #1
Phil Parent
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Max Pacioretty can't pay bills, apparently

A Montreal company has taken a mortgage on Max Pacioretty's house because he owes them 65000$ on work done on his Quartier 10/30 house and he can't pay them.

Per 98,5FM just now.

The part about the company taking a mortgage on his house is iffy. Is that even possible?

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11-30-2012, 01:07 PM
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BayouHab
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Yes, it's a construction lien on the property.

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11-30-2012, 01:19 PM
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11-30-2012, 01:23 PM
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Tim Wallach
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Quick, let's name Max to the small group of new people at the bargaining table.

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11-30-2012, 02:09 PM
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Yes, it's a construction lien on the property.
It's not a mortgage.

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11-30-2012, 02:09 PM
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Quote:
Originally Posted by Phil Parent View Post
A Montreal company has taken a mortgage on Max Pacioretty's house because he owes them 65000$ on work done on his Quartier 10/30 house and he can't pay them.

Per 98,5FM just now.

The part about the company taking a mortgage on his house is iffy. Is that even possible?
Yes, the legal term in PQ is "hypothèque légal". Happens when contractors aren't sure they will get paid. It's against the property meaning the property can't be sold unless payment as been met.

Doesn't mean he can't pay though. It could also mean they aren't able to get in touch with him in a satisfactory time lapse or Max ain't satisfied with the cost and refusing to pay the whole amount.

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11-30-2012, 02:14 PM
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Oshawa General
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Quote:
Originally Posted by Phil Parent View Post
A Montreal company has taken a mortgage on Max Pacioretty's house because he owes them 65000$ on work done on his Quartier 10/30 house and he can't pay them.

Per 98,5FM just now.

The part about the company taking a mortgage on his house is iffy. Is that even possible?
Maybe he should ask Don Fehr to help him out financially, or maybe his linemate Eric Cole, since Cole has stated this lockout is to help the younger players, LOL
All else fails, maybe Charlie Sheen could help him out

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11-30-2012, 02:34 PM
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Originally Posted by Oshawa General View Post
Maybe he should ask Don Fehr to help him out financially, or maybe his linemate Eric Cole, since Cole has stated this lockout is to help the younger players, LOL
All else fails, maybe Charlie Sheen could help him out
Don't forget Gorges who's done nothing but repeating Fehr's propaganda.

I hope more fans start to realize how out of touch and stubborn Gorges, Prust and Cole sound compared to a much young yet mature Subban.

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Old
11-30-2012, 02:44 PM
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Jakomyte
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Can't pay his bills,
Can't pay his telephone bills,
Can't pay his automo'bills,
If he did then maybe we'd chill...

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11-30-2012, 02:48 PM
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He should call Dan Breton and ask for advices.

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11-30-2012, 02:59 PM
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No wonder he sucks at finance, look at the contracts he agreed to sign

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Old
11-30-2012, 03:09 PM
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Gustave
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Quote:
Originally Posted by ChoseLa View Post
He should call Dan Breton and ask for advices.
OT: Riddle me this; who gets caught speeding in a Porsche doing 240 but can't pay rent for an appartment all the while seemingly being able to afford about 3 wine bottles per day? I can't wrap my head around that.

Max, pay the contractor already. You don't need that sort of publicity.

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11-30-2012, 03:10 PM
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Kriss E
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No wonder he sucks at finance, look at the contracts he agreed to sign
Ya, 4.5M is a really bad deal after one successful year..

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11-30-2012, 03:11 PM
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He made 1.5 million dollars last year and he can't pay 65 000?

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11-30-2012, 03:20 PM
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I thought he made 4.5M last year ?

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11-30-2012, 03:22 PM
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He made 1.5 million dollars last year and he can't pay 65 000?
750k went to taxes.

Probably paid 400k+ up front for the house.

10% to the agent, another 150k.

Probably set his family up nicely, another 150k.

Doesn't exactly last very long.

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11-30-2012, 03:42 PM
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He needs to hire Laraque to fax pertinent documents in a timely manner.

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11-30-2012, 04:20 PM
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BadHabit
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I call BS - the dude made 910k in 08/09, 910k in 09/10, 910k in 10/11, and 1.625M in 11/12 as per capgeek.com. That's 4,355,000 and even if you take out 50% for tax and another 10% for agent, that's still 1,742,000. There is no way this guy hasn't been #1 saving for retirement, and #2, saving for the lockout that everyone knew was coming last year.

It's $65,000... not even that much. Montreal media FTW again.

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11-30-2012, 04:23 PM
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Quote:
Originally Posted by BadHabit View Post
I call BS - the dude made 910k in 08/09, 910k in 09/10, 910k in 10/11, and 1.625M in 11/12 as per capgeek.com. That's 4,355,000 and even if you take out 50% for tax and another 10% for agent, that's still 1,742,000. There is no way this guy hasn't been #1 saving for retirement, and #2, saving for the lockout that everyone knew was coming last year.

It's $65,000... not even that much. Montreal media FTW again.
The thread title may be misleading, but let's use our heads - what's more likely? That Pacioretty can't pay the 65k or that he doesn't want to - for whatever reason?

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11-30-2012, 04:23 PM
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Quote:
Originally Posted by BadHabit View Post
I call BS - the dude made 910k in 08/09, 910k in 09/10, 910k in 10/11, and 1.625M in 11/12 as per capgeek.com. That's 4,355,000 and even if you take out 50% for tax and another 10% for agent, that's still 1,742,000. There is no way this guy hasn't been #1 saving for retirement, and #2, saving for the lockout that everyone knew was coming last year.

It's $65,000... not even that much. Montreal media FTW again.
He wasn't even in the NHL all those years. You do not receive the same salary if you are not on the NHL team if you have a two-way contract (which he did, it was ELC).

Secondly, those are cap hits; those cap hits take into account bonuses which he may or may not have received.

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11-30-2012, 04:24 PM
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Originally Posted by BadHabit View Post
I call BS - the dude made 910k in 08/09, 910k in 09/10, 910k in 10/11, and 1.625M in 11/12 as per capgeek.com. That's 4,355,000 and even if you take out 50% for tax and another 10% for agent, that's still 1,742,000. There is no way this guy hasn't been #1 saving for retirement, and #2, saving for the lockout that everyone knew was coming last year.

It's $65,000... not even that much. Montreal media FTW again.
He didn't spend all that time in the NHL, so technically he didn't make that much. ELCs are two-way contracts. For his time in the AHL, he was making sub-90k per year.

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11-30-2012, 04:29 PM
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Originally Posted by waffledave View Post
750k went to taxes.

Probably paid 400k+ up front for the house.

10% to the agent, another 150k.

Probably set his family up nicely, another 150k.

Doesn't exactly last very long.
What do you mean by his family exactly?

He is from New Canan, CT; I doubt his family has any shortage of cash.

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11-30-2012, 04:31 PM
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BadHabit
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Originally Posted by buddahsmoka1 View Post
He wasn't even in the NHL all those years. You do not receive the same salary if you are not on the NHL team if you have a two-way contract (which he did, it was ELC).

Secondly, those are cap hits; those cap hits take into account bonuses which he may or may not have received.
My bad, you guys are right.

Even still, I think the most likely story is what hototogisu mentioned.

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Old
11-30-2012, 04:32 PM
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Quote:
Originally Posted by waffledave View Post
750k went to taxes.

Probably paid 400k+ up front for the house.

10% to the agent, another 150k.

Probably set his family up nicely, another 150k.

Doesn't exactly last very long.
Isn't his dad pretty loaded?

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Old
11-30-2012, 04:42 PM
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guest1467
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Originally Posted by BadHabit View Post
My bad, you guys are right.

Even still, I think the most likely story is what hototogisu mentioned.
I think it is quite possible an NHL player is broke.

I think sometimes people forget the relativity of salaries. What I mean is, someone who makes a great deal of money is also more likely to frivolously spend it as well. IE, eat in high class restaurants, buy expensive luxury goods.

He got married this year, to a pro tennis player, I am sure that marriage and everything that went with it (engagement ring, wedding, honeymoon) cost a great deal of cash.

I remember Subban and Pacioretty also buying a whole buffalo or something of that nature; these types of things are not cheap.

It is doubtful that any NHL player in their ELC is saving money. They are probably living the high life, buying a house, a car, spending on luxury goods; these things cost a lot of money up front and if a lockout comes along that you didn't necessarily plan for takes away money that you assumed was coming in; this could actually leave you with literally no money.

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