Tatis will pay $ 34 million for a loan of $ 800,000
The historical expanse of Fernando Tatis Jr. is not only celebrated in Juan Dolio, where his family lives, California tax authorities who will get more money or his agent Dan Lozano. Michael Schwimmer never stops partying in Las Vegas.
A large sum of the $ 340 million that Tates will raise over the next 14 years will go to Big Advance Accounts (BLA), the company Schwimmer founded to lend money to potential clients in exchange for percentages of salaries they would receive. the future. Major leagues.
If Tatis, 22, pledged 5% against a $ 400,000 advance three years ago, he would have to pay $ 17 million for the contract he just signed that binds him through 2034. If it’s $ 800,000 for 10% after that would be forced to transfer 34 million USD.
That investment would have earned 4,150%, which is not guaranteed by buying Apple stock or investing in Bitcoin.
Tatis was born into the golden cradle of a family where his father of the same name raised $ 17.8 million between 1997 and 2010 in MLB, and received a $ 700,000 bounty in 2015 from the White Sox when he was 16 years old.
But at the end of his season at AA in 2017, already turning to Padres, Shortstop realized he needed additional resources to hire a personal trainer, eat better and get a more comfortable apartment within walking distance of his parents in Juan Dolio and BLA, with the eighth possibility of MLB Pipeline, gave his highest footfall ever, according to a report from The Athletic.
Until 2018, $ 800,000 for 10% in the future was the maximum amount the company had loaned, but the range could start from $ 100,000 for 1% according to a number given by the algorithm for each player in the junior leagues.
Tatis didn’t tell The Athletic’s Ken Rosenthal how long it took in 2018 when the story came out, and Schwimmer didn’t tell Yahoo! Sports, when contacted Thursday, but confirmed Tates received the highest offer from a client who already has a contract with 344 players who have loaned them $ 156 million so far.
Francisco Mejia, a Recipient of Paniligo who now belongs to Rays, pledged to give 10% of his salary for $ 360,000, after learning about the scale of what he had done, filed a lawsuit against BLA, which is based in Delaware, and ended up withdrawing the complaint and publicly apologizing.
Players’ Association (MLBPA in English) criticizes this system which it considers unfair, but since it is not representative of the minor league players, it feels its hands are tied.
How much will Tatis earn?
First of all, Tatis would pay 37% of her income as federal taxes each year. After that, you can pay up to a maximum of 13.3% to California, a number that could drop if you show that you reside at least 183 days of the year elsewhere, which is complicated if your team reaches the playoffs, because it leads to a start The schedule is 172 days in the regular season.
Once applied, the discounts come in for what you collect while playing in other states and cities that tax. Added to this is the payment for the MVP Sports Group agency, which can be up to 5%.
If only the specified discounts are actually applied and 10% is given to the BLA, Bebo will have 35% of the funds it has approved, that’s $ 114 million until 2034.