*News Flash* We interrupt your regularly scheduled posting to bring your a public service announcement from the Independent Capologist Watchdog Group. The watchdog group has just received an email from the league office that clarifies the Luxury Tax situation for teams. I hope this dispells some of the misinformation that the media, owneres, agents have been spreading. First off, there might not be a Luxury Tax this year. It all depends how much money the league makes as a whole versus the amount of salaries and benefits paid to players. Salaries and benefits must exceed 61.1% of league-wide revenues for a tax to kick in. Secondly, if one does kick in, they are predicting the tax threshhold to be about $54m. At this point, the best guess is that the league will make enough money to prevent ANY luxury tax this year. We will not know officially whether a tax kicks in or not until the BRI is calculated in the 2001-2002 audit. But preliminary Salary numbers from the Coon group and revenue estimates indicate the league is healthy and robust and keeping salaries in line with growth...thus no Luxury Tax will likely be needed. What does this mean? This means that anytime your hear an owner or an agent or journalist mention the Luxury Tax as a reason to make trades or offer salaries, that statement is based on no certainty that there will even be a tax this year. *this was a public service announcement by the Independent Capology Watchdog Group. We now take you back to your regularly schedule broadcast.* [This message has been edited by crispee (edited July 25, 2001).]
Topics like this make this site the one to come to when you need good accurate information. ------------------ take it one day at a time
Who's HeyPee? All I know is that this "crispee" newbie is going to pass my post count by the beginning of August. ------------------
