Report: Heat talk Odom deal, Riley says

[JoshO501]

http://sports.espn.go.com/nba/news/story?id=4336149

The Miami Heat have discussed a Lamar Odom deal that would approach the $9 million salary the free-agent forward nearly agreed to last week with the Los Angeles Lakers before talks broke down, the South Florida Sun-Sentinel has reported.

Riley
Riley
Odom
Odom

Pat Riley, addressing Heat season-ticket holders in a two-day session Thursday and Friday that was closed to media, said the Heat was also monitoring Carlos Boozer's status with the Utah Jazz but had not entered discussions on acquiring the forward.

Riley said the team could add Odom, Boozer or both without sacrificing its goals toward 2010's free-agent class, the Sun-Sentinel reported.

Florida's lack of state taxes and other payment options give the Heat the ability to offer Odom a contract matching the previous Lakers deal, the Fort Lauderdale newspaper reported.

The Lakers retracted their offer to Odom early this week, saying that talks had stalled.

Sources told ESPN.com's Marc Stein that Odom had balked at the Lakers' unwillingness to extend an offer spanning more than three years in length.

"There are specifics behind why we pulled it, but that's not something we're going to get into," Lakers public relations director John Black said.

According to the Los Angeles Times, Lakers owner Jerry Buss offered Odom two deals, one worth $36 million for four years and the other $10 million a season for three years.

Odom, who will turn 30 in November, made $14.1 million this past season.

Odom played a key role off the bench in the Lakers' championship run. He averaged 12.3 points and 9.1 rebounds during the playoffs.

[spursfan1000]

damn why does he want so much money this upcoming year if he made 14 million last year Lmao

[Dex]

Odom, who will turn 30 in November, made $14.1 million this past season.

Damn....I wasn't aware Odom was getting paid that much already.

Even at that inflated price, I can't blame the guy for NOT wanting to take a significant pay cut after turning in one of his best seasons on the way to a championship.

Especially when there are other splooge-buckets on your team like Walton and Vujacic who got sweet deals for doing jack.

[NickiRasgo]

Damn!

PG - Mario Chalmers
SG - Dwyane Wade
SF - Lamar Odom
PF - Carlos Boozer(If happens)
C - Jermaine O'neal

But I'm thankful 'coz Lakers is the biggest problem in the West.

[kwamay_brown54]

And how will Miami be offering Odom 9 million without having bird rights and being over the cap, and no possibilty of s&t since lakers aren't adding additional payroll? I guess espn.com forget all of those barriers didn't they. :lol:lol:lol

[Double-Up]

And how will Miami be offering Odom 9 million without having bird rights and being over the cap, and no possibilty of s&t since lakers aren't adding additional payroll? I guess espn.com forget all of those barriers didn't they. :lol:lol:lol

MLE in Florida = 7-8 million because of no state taxes.

[kwamay_brown54]

MLE in Florida = 7-8 million because of no state taxes.

Now you are making numbers up, since when does 5.8 million turn into 7-8 million? What kinda school did you go to? :bang

[Culburn369]

And how will Miami be offering Odom 9 million without having bird rights and being over the cap, and no possibilty of s&t since lakers aren't adding additional payroll? I guess espn.com forget all of those barriers didn't they.

Ruh, roh, there goes kwamay tossin' a turd into the pool.

Portland still can pursue Odom. I mean they're ideal. Those f'in' humps don't even compete until we show up. Payin' an arm & a leg to Odom to piss in our cheerios would be their like 2nd ring without even making the playoffs. They could continue to rest then, for like the next ten years. Wouldn't have to get off their asses except when we show up, per usual, but, that Odom feather in their cap? Shit, they'd be happier than if they actually had to show up.

[Spursmania]

Damn....I wasn't aware Odom was getting paid that much already.

Even at that inflated price, I can't blame the guy for NOT wanting to take a significant pay cut after turning in one of his best seasons on the way to a championship.

Especially when there are other splooge-buckets on your team like Walton and Vujacic who got sweet deals for doing jack.

Exactly, it's clear he feels he is getting the short end of the deal, and that must bother him, especially considering his play-off contributions.

[DUNCANownsKOBE2]

MLE in Florida = 7-8 million because of no state taxes.


Is that a joke or are you just really fuckin stupid?

[Culburn369]

Exactly, it's clear he feels he is getting the short end of the deal, and that must bother him, especially considering his play-off contributions.

Well, Hell, Mania, perhaps even if Odom relents and resigns with us he'll be so peeved and stove up that Buss bent him over that he'll like be a mole compelled on sabatoging us from within, and he'll start missing layups and free throws and he'll fumble every f'in pass to him first before he gains control of it. You know like he did during his Lakers career before the '09 playoffs.

That schematic should tie you over thru the weekend, eh?

[Mr.Bottomtooth]

Is that a joke or are you just really fuckin stupid?

:lmao

[duncan228]

Wade to Lamar Odom: ‘Come home’ to Miami Heat (http://sports.yahoo.com/nba/news?slug=txheatpursuingodom&prov=st&type=lgns)
By Tim Reynolds

Dwyane Wade spent much of his rookie season picking Lamar Odom’s brain on all aspects of the NBA game, everything from playing tips to travel advice.

He hopes those chats start again soon.

The Miami Heat, who traded Odom to the Los Angeles Lakers five years ago in the trade that brought Shaquille O’Neal to South Florida, have made the free agent forward an offer to return and help Wade once again. The team has not revealed terms of the offer, although it’s believed to be a five-year package that could be worth around $35 million.

“I want Lamar to do what’s best for him and his family because we love him as family, but on the other hand, we want him back home, to come home,” Wade said Friday in a telephone interview. “His house is still there. It’d be exciting to see what happens.”

Odom averaged 17.1 points - the second-highest average of his career - in 80 games with the Heat during the 2003-04 season. He’s spent the past five years with the Lakers, who pulled their contract offer to Odom earlier this week, a move that doesn’t necessarily mean the two sides won’t resume talking. Odom, 29, was a significant contributor to the Lakers’ championship run this year.

The Heat went 42-40 that season with Odom, winning 17 of their final 21 regular-season games and earning the No. 4 spot in the Eastern Conference. That summer, Miami traded Caron Butler, Brian Grant and Odom to the Lakers for O’Neal, who helped Wade and the Heat win a championship two years later.

Wade, who has asked the Heat to make some roster upgrades with hopes of getting back to the championship level, said he doesn’t need to call Odom to lobby for his return.

“Lamar already knows how I feel,” Wade said. “I really don’t know how to feel. He’s really taken time to deal with it, sit back. It’s a very important decision in his life. It could be about where he ends his career.”

The Heat have also been linked to a potential trade involving Utah forward Carlos Boozer, another close friend of Wade and his teammate from the 2008 Beijing Olympics. The South Florida Sun-Sentinel reported Friday that Miami “has not entered talks … but is monitoring” the Boozer situation.

Over his 10-year career, the versatile 6-foot-10 Odom has averaged 15.1 points and 8.8 rebounds.

“Lamar and I always had a great relationship,” Wade said. “He’s always been the guy, one of the guys, that I thought really helped me as a young player.”

[iggypop123]

Damn....I wasn't aware Odom was getting paid that much already.

Even at that inflated price, I can't blame the guy for NOT wanting to take a significant pay cut after turning in one of his best seasons on the way to a championship.

Especially when there are other splooge-buckets on your team like Walton and Vujacic who got sweet deals for doing jack.

he made 11 million. people dont know that 14 million was his cap number. after the shaq trade there was a kicker that inflated his cap number but not his salary

[Culburn369]

Boozer & Odom, eh? Hot shot hitchin' his wagon to those two & O'Neal.

jejejeje!!!

[cobbler]

Is that a joke or are you just really fuckin stupid?

Although I think those numbers are a tad high... there is some truth to his comments. There is no state tax in florida so he gets to keep more of the money he earns. But that is for only the 40 games they play at home. The away games are taxed according to the states they are played in.

[sprrs]

Although I think those numbers are a tad high... there is some truth to his comments. There is no state tax in florida so he gets to keep more of the money he earns. But that is for only the 40 games they play at home. The away games are taxed according to the states they are played in.

Is that really true? Wouldn't all his checks be signed and cashed in Florida?

[sonic21]

MLE in Florida = 7-8 million in LA

fixed

[duncan228]

The away games are taxed according to the states they are played in.


Is that really true?

It's true.

From April. (It's long but I thought people might find it interesting).

The taxing life of a pro athlete (http://articles.latimes.com/2009/apr/12/sports/sp-jock-tax12)
It's one of life's certainties: Athletes have to pay for income earned on the road.
By Kevin Baxter

For eight of his first nine major league seasons, Angels pitcher Darren Oliver worked in Texas, where the stars at night are big and bright and, more important, there's no state income tax.

Yet, each April, he pays a small army of accountants to file more than a hundred pages of returns -- and sometimes checks -- to as many as a dozen states and one province in Canada, covering taxes on income he earned on the road.

"The book's like this big," Oliver, holding his thumb and index finger a couple of inches apart, says of the tax documents he filed this year.

If opening day is the best day of the year for professional athletes, then April 15 -- tax day -- is probably the worst. Especially now that 20 of the 24 states with franchises in at least one of the four major pro leagues -- the NFL, NBA, NHL and Major League Baseball -- have laws that require visiting athletes to pay state income tax for each game they play there.

Considering that top-level athletes in football, basketball, hockey and baseball now make an annual average salary of $2.9 million, that means big bucks for states such as California. Home to 15 major professional teams, the state raked in $102 million in taxes from visiting athletes in 2006-07, the last year for which records are available.

As salaries have skyrocketed, the so-called "jock tax" has become widespread and controversial. Its imposition has raised questions of fairness and, for tax expert Joseph Henchman, has laid waste to the once-revolutionary prohibition on taxation without representation.

"Politicians are seeking to shift tax burdens to people that don't vote," he says. "It does create a rather disturbing trend because it essentially allows politicians to provide more government services than [citizens] are willing to pay for."

Oliver, who still resides in Texas during the off-season, is one of few pro athletes willing to speak publicly about the subject, with most who decline saying they're wary of making their lucrative contracts sound like a burden.

"Nothing surprises me that the government does to try to get some money," says Oliver, who will make $3.665 million this summer. " . . . The common person, they're not going to feel sorry for us. And if I was that person, I would be saying the exact thing. I can see both sides of it."

In the tax world, it's no secret that athletes are treated differently from other highly paid workers -- investment bankers and corporate lawyers, for example -- who also work in multiple states. The jock tax, critics say, is poorly targeted, arbitrarily enforced and unrealistically burdensome -- and also completely understandable given the current economic climate.

"No, it's probably not fair," says Ralph Espinosa, a Miami-based CPA who has done tax work for several NFL and major league players. "But they make more money than most of us. Their information is easily accessible online. Most people know their salaries [and] they can go in and see their schedules."

Athletes are taxed based on "duty days" they spend in each state. In baseball, there are approximately 181 "duty days," meaning a player earning $1.81 million would make $10,000 each duty day. Therefore, if that player's team had three games in California, he would be responsible for taxes on $30,000 of income.

At that point, all the tax collectors have left is a math problem to figure out that Ichiro Suzuki, the highest-paid baseball player in Washington, a tax-free state, will have to pay more than $218,000 in California taxes for the 25 games the Mariners will play there this summer.

The salaries and schedules for lawyers, bankers, entertainers and other professionals who might be subject to nonresident taxes aren't as accessible. But that hasn't stopped some states from trying to reel in CEOs and other well-paid executives by auditing corporations for their travel records, tax professionals say.

Touring entertainers such as singers or comedians often have taxes withheld by either the promoter or the venue. But collecting from film crews can be trickier since shooting schedules aren't publicized and are frequently changed and actors aren't on the set every day.

"States are focusing their resources on where they can get the money," says Henchman, tax counsel and director of state projects for the Tax Foundation, an educational group based in Washington D.C.

The advent of the jock tax is commonly traced to the 1991 NBA Finals in which the Chicago Bulls beat the Lakers, then received tax bills from California for the three games played in Los Angeles. However, nonresident tax laws have been on the books in the state since the 1950s.

"A lot of this became kind of an issue in the '80s as athletes' salaries were rising," says Denise Azimi, spokeswoman for the California Franchise Tax Board. "Athletes weren't always that well paid. So there wasn't that much of an impact."

There is now, though -- along with plenty of compliance nightmares.

Espinosa, who has been preparing tax returns for Florida-based athletes for a decade, says some of his work runs into hundreds of pages -- even though Florida has no state income tax. Complicating matters, tax codes and rates can change from state to state, even from city to city.

Then there are the tax credits players receive if they're required to pay taxes to two or more states for the same game -- for example: their state of residence, the state where their team is based and the state where the game was played.

"In many cases it's a wash. You don't end up paying all that much more," says William Ahern, communications director for the Tax Foundation. "But you just file a lot more paperwork."

Most major sports franchises withhold the required minimum tax and provide players -- as well as team broadcasters, trainers and public relations personnel -- with W-2 forms listing states where they need to pay income taxes. However, for players from smaller leagues or for athletes in individual sports such as golf, bowling or tennis, keeping track of who is owed what can be difficult.

Ahern relates the story of a young professional soccer goalie whose mother called the Tax Foundation in tears one spring. Her son had made $26,000 the season before and she was sitting at her kitchen table in Columbus, Ohio, trying to make sense of 10 state tax returns.

In other cases, Ahern says, an LPGA golfer who rarely finished in the money was surprised to get a huge out-of-state tax bill after winning $20,000 in a tournament, and an extreme skater who collected a $200 prize in Cincinnati was asked to give $2 back in taxes.

"It imposes a lot of complexity on people. And a lot of people, they're not even aware they have this obligation," Henchman says. "There's just too much to keep track of."

Henchman advises athletes to err on the safe side and pay taxes wherever they go. If not, they're likely to wind up like the 13 former NFL players who found themselves listed on Wisconsin's online delinquent-taxpayer rolls -- known in the state as the website of shame -- this year. The biggest scofflaw among out-of-state players was defensive back Cris Dishman, who, the website said, rang up a $213,508 tax debt during a 12-year career with four teams.

That would be enough to buy eight new police squad cars or to pay the salaries of nearly half a dozen teachers.

Yet no state, Espinosa says, is as diligent as California, where one person at the State Franchise Tax Board works full-time tracking athletes. "I don't see any as being as strict," he says. "The way the states look at it is, if you're going to come here, make money here, you've got to pay taxes [here]."

The practice is even spreading internationally -- with unintended consequences.

Last year, Madrid's Bernabeu Stadium was selected over London's Wembley Stadium as site of the 2010 Champions League soccer final because British officials couldn't offer assurances that visiting players would not be taxed by the government.

Closer to home, accountants for NFL players must now pay close attention to where the Super Bowl is played.

When the Seahawks played the Steelers in the title game three years ago in Detroit, Seattle quarterback Matt Hasselbeck reportedly had to pay about $10,000 in taxes to Michigan, a state with which he has no ties. If that game had been played in Florida, as two of the last three Super Bowls were, he could have kept the money.

"Tax competition is certainly alive and well. And it has a dark side and a bright side," Ahern of the Tax Foundation says. "The bright side is that states can't raise their rates on income or sales [taxes] way beyond what neighboring states do because it will drive people and businesses away. But the dark side is states compete against each other in gouging each other's residents. That has been going on for a long time. It's just that states are getting better and better at it."

[Kindergarten Cop]

Is that really true? Wouldn't all his checks be signed and cashed in Florida?

Yes it's true. I just found that out a few weeks back.

He would not pay state income tax for his 41+ home games for the Heat. Of the 41+ remaining road games, he would not have to pay state income tax when he plays a division rival (Magic), when he comes to Texas (Spurs, Rockets, Mavs), or when he plays the Grizzlies. That's at least 12 of his 41 road games that would go untaxed at the state level.

[cobbler]

though there is a savings...its not as much as one might think.

Lets say the MLE is at 6 mil for simplicity. The difference between playing for the MLE in Miami over LA would be 300,000. You still have to pay federal income tax and the state taxes for the 41 away games. The savings come from the home games. Florida has no state income tax and California's is 10%.

[DUNCANownsKOBE2]

though there is a savings...its not as much as one might think.

Lets say the MLE is at 6 mil for simplicity. The difference between playing for the MLE in Miami over LA would be 300,000. You still have to pay federal income tax and the state taxes for the 41 away games. The savings come from the home games. Florida has no state income tax and California's is 10%.

So basically there's little difference and it's got little to no baring on the Odom situation.

[cobbler]

So basically there's little difference and it's got little to no baring on the Odom situation.

if you consider half a mil to a mil per year little difference then correct.

[DUNCANownsKOBE2]

if you consider half a mil to a mil per year little difference then correct.


half a mil to a mil is anything but little to me but it's a small amount when we're talking about multi-year NBA contracts.

[Kindergarten Cop]

though there is a savings...its not as much as one might think.

Lets say the MLE is at 6 mil for simplicity. The difference between playing for the MLE in Miami over LA would be 300,000. You still have to pay federal income tax and the state taxes for the 41 away games. The savings come from the home games. Florida has no state income tax and California's is 10%.

As I stated in the post right above this, he wouldn't actually pay state income tax on all of the 41 road games. He would be exempt for the 4 games that he plays against the Magic and the 2-3 games he would play against each of the following teams (Spurs, Rockets, Mavs, and Grizzlies). That would mean 12-14 of his road games would be untaxed at the state level as well. Your argument is still valid, because it still would not be a significant savings - but it does help.

[cobbler]

As I stated in the post right above this, he wouldn't actually pay state income tax on all of the 41 road games. He would be exempt for the 4 games that he plays against the Magic and the 2-3 games he would play against each of the following teams (Spurs, Rockets, Mavs, and Grizzlies). That would mean 12-14 of his road games would be untaxed at the state level as well. Your argument is still valid, because it still would not be a significant savings - but it does help.

No doubt. In the big scheme of things we all act like its no big deal if someone on their level walks away for 500 grand, a mil, 2 mil. I think if we were in their shoes... it might be a little different!

[carrao45]

Is that really true? Wouldn't all his checks be signed and cashed in Florida?

Nah, the games road games he plays involve the income taxes of the states that those games are in

[DrHouse]

Regardless of the tax implications, the Lakers are still offering Lamar more money.

[iggypop123]

thanks to odom everyone is doing some math and learning some taxes

[Kindergarten Cop]

Regardless of the tax implications, the Lakers are still offering Lamar more money.

Are you confident in that? We have seen conflicting reports about the Lakers and their offer(s). The lowest offer that has been reported is 3yr/$27M and the highest is 4yr/$36M. If the lower of the two is correct, a team offering five years at the full MLE is more money than the Lakers were offering (were being the key word, since the word out of the Lakers' camp is that they do not have an offer on the table for Odom any more). The truth is, none of know for sure what the Lakers are offering since neither side has come out and said what has or has not been presented.

[Kindergarten Cop]

thanks to odom everyone is doing some math and learning some taxes

:lol:toast

[scottspurs]

The question this brings to you all is, who would you rather play with Wade or Bryant?

[DrHouse]

I'd rather play with Wade because he seems like a cool guy that wouldn't want to slit my throat after every mistake.

But I'd want to win a championship more than anything, and I'd go to the team that best gave me that opportunity.

[DPG21920]

Wade would want to slit your throat every time you spoke.

[iggypop123]

i would like to live in miami bang chicks but having long summers would suck. LA would allow for titles. its just a matter of what you want. winning vs lifestyle

[Ryvin1]

So if a player sit out games in CA, NY, or other state with state income tax would they still have to pay it?

[Red Hawk #21]

I'd rather play with Wade because he seems like a cool guy that wouldn't want to slit my throat after every mistake.

But I'd want to win a championship more than anything, and I'd go to the team that best gave me that opportunity.

Even Wade is not that kind. He would definetely slit your throat after you open your mouth to say some of your stupid shit.

[Mr. Body]

Miami is cheaper to live in than Los Angeles. LA is just a hellhole in general. Who wants to live in their car?

I think Odom goes where he wants to live and play and takes less money to do it.

[Chillen]

Miami is cheaper to live in than Los Angeles. LA is just a hellhole in general. Who wants to live in their car?

I think Odom goes where he wants to live and play and takes less money to do it.

Wade is trying to reach out to him, I also read he has a house in Miami still. If the Lakers fail to repeat and he signs for 3 years they could trade his ass. With Miami they want to get better and win it all again, seems like less pressure for the $'s.

[Kindergarten Cop]

I'd rather play with Wade because he seems like a cool guy that wouldn't want to slit my throat after every mistake.

But I'd want to win a championship more than anything, and I'd go to the team that best gave me that opportunity.


i would like to live in miami bang chicks but having long summers would suck. LA would allow for titles. its just a matter of what you want. winning vs lifestyle

Two things: Odom may not be as hungry for a ring since he finally got one; and while L.A. would still be the favorites for the title, the Heat are going to be a much improved team (especially if they acquire Boozer to go along with Odom) with a significant shot at a title IMHO.