Watch "Dan Le Batard Show with Stugotz - How much did Charles Barkley lose by returning to TNT? "A minimum of $100 million. A minimum." Barkley explains why he chose to return to Turner Sports as a broadcasting free agent. "The number-one thing for me is that my people at Turner get to keep their jobs another year."" on Streamable.
I doubt Barkley is staying solely for the reason he’s saying, but doing what you’re saying seem pretty difficult logistically.
If the $100 mil is over 10 years, then we’re looking at $10 mil per year, of which he’d receive about half due to taxes. Not sure how many people he has on the crew, but regardless, it’s likely that any money he gives to them will be then taxed again as a gift, income, or whatever. Maybe gift tax isn’t so bad here, but it seems complicated.
Let’s say there are 20 people:
Realistically, we’re asking him to either 1) front the $20 mil and pay it out as a lump sum or 2) give everyone $100,000 over 10 years. 2 might be nice if it was just “write 20 checks a year”, but I’m pretty sure it’d be quite annoying for tax reporting.
We don’t even know how many people there are or how much they’re making
He said it at the end. Turner is also paying him to do basically nothing for a year so I’m sure that’s a factor too. But I don’t think he would’ve minded getting say 50m more to do something more intense than Inside the NBA and less than ESPN.
Nah people aren’t considering other things that comes along with that employment. Insurance is a big one. If someone if your family has cancer or if you have a special needs kid the cost is astronomical. Turner also probably has the “good insurance” that actually opens doors for better level of treatment, childcare, coaching, etc.
If you’ve ever met parents with special needs kids its brutal. It’s a constant race against time trying to get the kid to each developmental milestone in time. They know once they lag behind there’s no “catching up” and the odds are stacked against them.
This is probably a huge factor on Barkley’s mind since Ernie’s son is/was special needs.
Nah people aren’t considering other things that comes along with that employment. Insurance is a big one.
you are assuming these people will be jobless if chuck leaves. They would get another jobs easily, with insurance and still have that million 2 left after taxes after chuck gifts them.
I doubt Barkley is staying solely for the reason he’s saying, but doing what you’re saying seem pretty difficult logistically.
If the $100 mil is over 10 years, then we’re looking at $10 mil per year, of which he’d receive about half due to taxes. Not sure how many people he has on the crew, but regardless, it’s likely that any money he gives to them will be then taxed again as a gift, income, or whatever. Maybe gift tax isn’t so bad here, but it seems complicated.
Let’s say there are 20 people:
Realistically, we’re asking him to either 1) front the $20 mil and pay it out as a lump sum or 2) give everyone $100,000 over 10 years. 2 might be nice if it was just “write 20 checks a year”, but I’m pretty sure it’d be quite annoying for tax reporting.
We don’t even know how many people there are or how much they’re making
I don’t think Chuck does his own taxes. Just a guess though.
He said it at the end. Turner is also paying him to do basically nothing for a year so I’m sure that’s a factor too. But I don’t think he would’ve minded getting say 50m more to do something more intense than Inside the NBA and less than ESPN.
Nah people aren’t considering other things that comes along with that employment. Insurance is a big one. If someone if your family has cancer or if you have a special needs kid the cost is astronomical. Turner also probably has the “good insurance” that actually opens doors for better level of treatment, childcare, coaching, etc.
If you’ve ever met parents with special needs kids its brutal. It’s a constant race against time trying to get the kid to each developmental milestone in time. They know once they lag behind there’s no “catching up” and the odds are stacked against them.
This is probably a huge factor on Barkley’s mind since Ernie’s son is/was special needs.
you are assuming these people will be jobless if chuck leaves. They would get another jobs easily, with insurance and still have that million 2 left after taxes after chuck gifts them.