Lee 10mm Euro tax free for two years. Remember the Euro is worth 30% more--so were looking at
roughly 13mm US--tax free for two years or basically 10mm per year NBA dollars. So he has a 2 year 10mm $ commitment. If David Lee's next best choice is a 2.9QO--man I don't see how he could turn that down. He would still be young enough--at 28 to get a big time contract in the US. 13mm in net cash is a lot of money--enough to take care of your family for life.


I guess Nate was offered 10mm US tax free--maybe David has to think about it but Nate would be turning down a 2 year NBA deal worth 15mm+--he isnt going to sniff 7.5mm a year in the US right now
Unless someone gives nate an MLE I would probably takje this if Im Nate. 10mm cash is 10mm cash

If they go to Europe, we retain their rights.

Posted by kam77:

If they go to Europe, we retain their rights.

Indefinitely or just for one year (a year that they'd be in Europe for anyway)?

I keep seeing his tax free part, pretty sure that unless they renounce their citizenship, they have to pay US Fed tax on these numbers, regardless of what Greece does. Just a nit pick.

Posted by MattSuspect:

I keep seeing his tax free part, pretty sure that unless they renounce their citizenship, they have to pay US Fed tax on these numbers, regardless of what Greece does. Just a nit pick.

A couple of people have explained that the team kicks in extra $ to make up for the taxes. So while it is not tax free, it is the equivalent of being tax free.

Posted by Bonn1997:

Posted by kam77:

If they go to Europe, we retain their rights.

Indefinitely or just for one year (a year that they'd be in Europe for anyway)?

We've extended to them qualifying offers for 2009-2010. So we keep their rights this year.
For future years its not so clear what happens. We could extend another qo, but then we'd be on the hook for their cap hold (i think). So the goal would be to trade their rights.

must be true if some guy posted that on realgm.

my money says that guy is Lee's agent!

Posted by kam77:

Posted by Bonn1997:

Posted by kam77:

If they go to Europe, we retain their rights.

Indefinitely or just for one year (a year that they'd be in Europe for anyway)?

We've extended to them qualifying offers for 2009-2010. So we keep their rights this year.
For future years its not so clear what happens. We could extend another qo, but then we'd be on the hook for their cap hold (i think). So the goal would be to trade their rights.

Walsh said they will still have their rights when they come back and that is not true but as you said only for the 09-10 year. 1) The Knicks only have the right of first refusal, not the right of the player which only exist after drafting a player. 2) You can't trade a right of first refusal.

Posted by SupremeCommander:

This makes no sense. Weren't the Knicks offering in excess of $6-7 mil annually for longer than two years? How is that more appealing than $10 mil over two years, which he still has to pay social security on, and will have to pay taxes on if he ever brings the money onto American soil. In order to spend it tax free in the States he's have to smuggle it into the country illegally. You know the customs sheet they have you fill out when you return from international travel? There's a reason that's there

[Edited by - supremecommander on 07-16-2009 6:04 PM]

Man, if he pays any US taxes on that money then he should fire his accountants. There are laws against double taxation including foreign and domestic. I believe the US and Greece have a tax treaty that would make such double taxation illegal. The IRS can't enforce OASDI on foreign entities. If he is stupid enough to walk back in the US with a briefcase full of cash then he should have all his money taken from him at customs or by any local thug. Thank god we have banks.