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Thread: Modell's

  1. #1

    Modell's

    Modell's to announce it will be donating 5% of all Yanks sales for next 7 days to Christian Lopez. Guaranteeing him $25K.

    [URL]http://twitter.com/#!/darrenrovell[/URL]

  2. #2
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    Where is the $250 million dollar man in all of this.

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    wouldn't he then have to pay taxes on the additional 25k?

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    [QUOTE=jetswin;4061213]wouldn't he then have to pay taxes on the additional 25k?[/QUOTE]
    So they make it $32K and cover the taxes.

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    Something tells me we'll be seeing Lopez in a Modell's commercial right quick.

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    Why not give that to cancer research or something? Give the money to someone who really needs it.

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    I cant believe he gave it back. I wouldve been halfway out of the stadium by the time Jeter touched the plate.

    I think hes getting taxed on the things the Yankees gave him as well.

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    I think a lot of pressure was brought to bear on this kid pretty much immediately. If it had been me I think might have left the ball in the safekeeping of the Yankees and then told everyone that I would not make any kind of decision for at least 24 hours.



    24 hours later I am sure I would have told them they were SOL

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    Even after paying the taxes doesn't this Lopez guy still make out ahead big time? Bats, jerseys, great seats including playoffs?

  10. #10
    [QUOTE=jetstream23;4061366]Even after paying the taxes doesn't this Lopez guy still make out ahead big time? Bats, jerseys, great seats including playoffs?[/QUOTE]

    On the surface, yes. He gets 4 seats in a Championship Suite for all games this season, including playoffs, plus all the other goodies you mentioned.

    The sticking point is this is a kid with student loans who doesn't need another payment. He can always sell some of the seats to offset the tax burden (estimated at 14K?) but it seems like there should be an easier way.

    Maybe an unofficial "passing of the hat" around the stadium...

    Nice move by Modell's, though.

  11. #11
    [QUOTE=JVilma;4061391]On the surface, yes. He gets 4 seats in a Championship Suite for all games this season, including playoffs, plus all the other goodies you mentioned.

    The sticking point is this is a kid with student loans who doesn't need another payment. He can always sell some of the seats to offset the tax burden (estimated at 14K?) but it seems like there should be an easier way.

    Maybe an unofficial "passing of the hat" around the [B]yankees clubhouse[/B]...

    Nice move by Modell's, though.[/QUOTE]

    fixed

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    [QUOTE=Bay Ridge Jet;4061343]I cant believe he gave it back. I wouldve been halfway out of the stadium by the time Jeter touched the plate.

    I think hes getting taxed on the things the Yankees gave him as well.[/QUOTE]

    Not as well - just the freebies from the Yankees. He is not getting taxed on the ball as he did not realize any income from it. Same thing happened with McGwire's ball (which the guy gave to him).

  13. #13
    Classy move by Modells, but I agree with the poster who said they should donate the money to a cancer foundation or something of the sort. If they're feeling in a charitable mood, use it for a more pressing need.

    The kid made a very honorable gesture by just giving up the ball and I totally respect his decision (although I would have done differently), but I don't think he deserves any donations. He made the choice to give up the winning lottery ticket. I think all that should be given is enough to cover the taxes he has to pay for the seats, memorabilia, etc. JMO.

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    I am unsure of tax laws, but isn't any gift or proceeds that some one receives has a tax on it. So if Modell's raises money to help then he has to pay tax on that. He is not a not for profit organization

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    [QUOTE=crasherino;4061583]Not as well - just the freebies from the Yankees. He is not getting taxed on the ball as he did not realize any income from it. Same thing happened with McGwire's ball (which the guy gave to him).[/QUOTE]

    I didnt mean the ball itself. I meant the perks the Yankees gave him.

    [url]http://sports.yahoo.com/mlb/blog/big_league_stew/post/Buzzkill-Fan-may-owe-taxes-on-rewards-for-Jeter;_ylc=X3oDMTcyaGV1bGJvBElfYWd1aWQDN01aTlFMMlAzUVhRRzJDQUdMRTdJNDNWTlEESV9jZ3VpZAMESV9jcHJvcAN5YWhvby5zcG9ydHMuc2l0ZQRJX2x0cwMxMzEwNTEwNTg0BElfdWNudHgDZ2xvYmFsBElfdXNyYwN5LnNwb3J0cwRJX3VzdWlkA3kuc3BvcnRzI2NvbW1lbnQjMTI5OTk5NTYESV91dHJucwNhcnRpY2xlY29tbWVudHNmYjEESV91dHlwZQNhcnRpY2xlY29tbWVudHMESV91dnJudAMxBF9TAzIwMjM0MzUyNjE-?urn=mlb-wp12427&bcmt=12999956#mwpphu-comment-12999956[/url]

    Its seems really speculative of course but still I cant imagine anyway Id give that ball back

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