I could go for a salary cap as a good idea, but I think that they should then remove Arbitration as well and therefore institute an actually complete free agency system.Originally Posted by Jeffy25
E=I*R
I could go for a salary cap as a good idea, but I think that they should then remove Arbitration as well and therefore institute an actually complete free agency system.
You insist that there is something a machine cannot do. If you will tell me precisely what it is that a machine cannot do, then I can always make a machine which will do just that! -J. von Neumann
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Same here
The main thing is that I don't think anyone should be expected to be able to fully retire at 30, or even 40. I mean, I completely understand the point that you're making about the sacrifices and luck required to make it to the brass rung in professional sports, but... well, you need to take care of yourself and be realistic in your expectations when you do make it, as well.
If the players union (unions, actually. This really goes beyond just baseball) actually cared about anything other than players salaries and therefore their own bottom line, you'd think that they would themselves provide and get the league(s) to provide some sort of financial advice and counseling for them. That and some sort of education incentive or something (hell, that would be easy to do in baseball, it being a summer sport!).
Did you hear about Albert Pujol's new plans? He is going to have 12 mil of his 16 mil a year contract, through 2011 be deferred and paid in installments to himself from 2020 through 2029 so the team can spend more money each offseason so the team can win while he is on the field rather then spending more in the 20's. He is going to be getting a huge interest bonus from this, he is helping his numbers (hopefully) by helping the team get better player(s) and making sure that after he retires that while in his 40's he'll be getting big ass paychecks still. Basically he said making 4 mil a year is enough for his foundation, he and his kids each year until this contract ends, and will be fine throughout his 40's and so on. I think it's a great and rather selfless act by him. And really takes care of he and his family. I love it!
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Granted, this hasn't been approved yet, it might be this offseason...but I degress
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Now we are talking!
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Wow, I hadn't heard about that. Good thinking Albert!
Hopefully more players will follow his example.
You insist that there is something a machine cannot do. If you will tell me precisely what it is that a machine cannot do, then I can always make a machine which will do just that! -J. von Neumann
o
And yet there seems to be this sentiment around here by some that Albert Pujols is a greedy *******.
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Of course being a cards fan...I think, hey great for the team until 11', but what is gonna happen in the 20's? and will the league approve?
It's kind of cool...It's actually set up the way I do life insurance plans on employee's I want to keep and pay well, but don't want to give them a huge salary until they have been with me a few years. It's called a deferred life insurance plan. The way it works is...I pay associate A his 50k a year salary, I put another 15k a year into a life insurance policy that earns interest each year. If the employee stays with me after five years, while I have been putting that 15k a year each year into that account, the associate gets that as a big bonus, that I don't have to pay anymore into. If the associate leaves me before the 5 years and let's say in 20 years he drops dead...then I get that insurance policy paid back to my company! After those five years though, and he has stayed with me....then he is looking at a 75k bonus, and that doesn't include the interest which makes that around 100 grand! I'd say I showed a value to stay with me....I don't know why the union doesn't argue for something like this, teams would benefit from doing something like this...It's perfectlly legal...in fact my Northwestern Mutal guy is the one who taught me how to do it....now I keep the employees I want to keep and can pay them top dollar and reward them for staying with me!
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I'd have to say with all that he gives, He is far from it...St. Louis is a much better community from the work that Albert does...that's why he is always up for the award each year...I believe it's a lil thing called the Roberto Clemente award! Which has already one once!And yet there seems to be this sentiment around here by some that Albert Pujols is a greedy *******.
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I think that people just get caught up in the numbers. To us "regular people", seeing $X million is just beyond our experience, and after seeing that sort of number it seems that a lot of people just can't think of the rational reasons why their paid that much.
If you do stop to think about it though, it's not that much money. The deal that this thread is about, where Lhose is getting $11 million per year on average, works out to a little over $211,000 a week. That is a lot of money, but it's only for 4 years... I mean, I can earn around $20-$25 an hour doing what I do, but I can do my job for 40-50 years, vs the ~15 years that a superstar athlete has. Figure 40 years at $20/hour, 40 hours a week, = $1,664,000. I'm skilled at what I do, but realistically I don't have a skill as special and rare as being a professional athlete. There's also no network television running around interested in electronic systems repair. lol
Again though, this takes me right back to my original statement. If it bothers you that athletic skill is worth so much money, the only solution is for you the fan to loose interest in being a fan. The reason that the owners can make so much money is our collective interest. The reason that the players are paid so much is because the owners make so much.
You insist that there is something a machine cannot do. If you will tell me precisely what it is that a machine cannot do, then I can always make a machine which will do just that! -J. von Neumann
Master of Ale!
I hadn't heard about that new deal with Pujols. I will be VERY interested to see if that gets league approval.
o
It's not really a new deal.
It was the deal he signed back in 2004.
I actually think Jeffy might be misinterpreting it unless they changed it...It says:$12 million in ALL deferred, not $12 million per year.$12M ($3M/year, 2007-10) deferred without interest, to be paid in 10 installments of $1.2M from 2020 to 2029, reducing present-day value at signing to $90,276,957
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Well said, well let's look at the numbers. Let's say you make 25 an hour. and you will make those dollars until you retire at the age of 65, I don't know your age, so I'll just guess 30 for the sake of argument. So we are saying you will never get a pay increase, and inflation will never happen for the next 35 years. Basically you are making 50k a year (a lil more) but that number is close enough and easier to use....That equals 1.75 million. now if you compare that to 41 million we are very very far off. But bc of things like inflation...and we look at what someone making 25 an hour today would have been making in 1973....you can compound that 1.75 and make it a hefty number! not 41 mil, but your job is much more secure, it is much easier to continue work until you are older, and you can still have a family that you spend your quality time with. his 41 million will only deprciate unless he does something with it...which I assume he would. I am not trying to say you will make what Lohse is going to make, but like you said. His skill is rare...and maybe we should start that tv program and just make your demand that much greater
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and just to beat up on it a lil more, if you put any of that 50 k a year into factoring the rule of 72, you retire with a shiton more...plus you likely had benefits the whole time...and I am degressing once again! argh!
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I am wasn't misinterpretting. Albert approached the team with his two agents to make the deferred amount much larger and to make a change in the contract, the team, and the league would have to approve...
o
Interesting. Have a link to the story or anything?
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