Why are there so many haters in these comments. He’s simply explained how the system works, he’s not asking for anyone’s sympathy. And the personal attacks are gross. I loved Schneider, he was probably the most generous guy in the league. Yea he didn’t have a great end to his career but he also had some bad luck. He has to back up Luongo and Brodeur, not easy for any goalie to stand in those shadows, and he got saddled with bad teams. Hockey goalie is the most challenging position in sports. You are in individual contributor in a team game where success or failure squarely falls on your shoulders. The mental gymnastics these guys go through is unparalleled. If you look at his record, even in losing seasons his personal stats were excellent. He got the crap end of the stick for many years and deserved a better opportunity. Jersey still loves you Cory.
Not haters. Appreciators. But it is the underside of hockey, and we don't usually think about it. Also, brings in NBA, which is enlightening, but a bit disheartening. Guys making 10 million a year worry about 10 thousand bucks.
I think it's because he comes across as ungrateful. " we only get 5 million " and we have to pay our own insurance. The average listener may not be able to afford their home and we've got guys talking about how it's unfair they only make X million per year. The correct take on this would have been, " we play a game for a living and if we are smart with that income... We retire being able to do anything we want for the rest of our lives. We only really work for 19 years of our entire life and retire at 39 years old for the most part ".
@@jordancarlin9687 Schneids played 3 great seasons in NJ then got hurt and was never the same so it wouldn’t have done us much better. We got Horvat from trading Schneider and Markstrom for Lou and both those trades worked out.
And now the fans and families are footing the bill. My wife and son and I saw McDavid play the Habs last year. My son is a die hard McDavid fan so we flew to Montreal for the game. We sat in the 3rd deck because the lower bowl was 1100 per ticket. I still paid 350 a ticket in the nose bleeds. The average family has been priced out of sports.
Yeah way to expensive. I live in Toronto and a 2nd row ticket would have been $900 plus $50 for parking and food and beer $50. So $1000 for 1 person. Instead, I drove to Detroit and bought 2nd row tickets for $135 USD for Detroit vs Nashville. I got a nice hotel and made a nice weekend out of it. And I went to the Ford Museum and got a tour of the factory and that cost me $55 for 2 days of entertainment. It came out to less than $1000. It's a joke
Most arenas don't own the concessions, they hire an outside company that provides the food and drinks, hire the cooks and the servers and the cashiers, so they set the prices on everything.
@@keithmiller7610Wait what. Yes, most NHL teams own the concessions in the arenas. Companies and small businesses rent out the concessions. Not all cases, but it’s definitely most cases regarding NHL arenas.
I don't drink, but if I did no way I would pay $18 for a beer. I know last season I went to a few games. The first game I went to I paid $25 for a burger, fry's, and a soft drink. Now I eat before I leave for the game. The most I will buy is a popcorn and a soft drink. Even that is costly. I can't afford to go to many games, but when I do I refuse to pay an arm and a leg for something to eat.
That's the business of sports, plain and simple. And these huge NHL numbers he's talking about are dwarfed by the numbers when it's the NBA, MLB or NFL.
Loved Cory on the Devils he carried this team for years! Very informative and level headed take on the business of the NHL. For anyone saying he’s saying he’s only making this or that he’s not whining he’s just explaining how it works
The NHL escrow and salary cap system is an absolute necessity. It doesn't allow the 11 profitable teams to outspend every other team. (21 lose $$) Prior to the salary cap, 5 teams had payrolls 3 times higher than 12 other teams. It was out of control. The biggest winners of the cap/escrow system were 4 of the 7 Canadian teams.
Wrong. Taxes are much higher in Canada, meaning way more of the Canadian teams cap just goes to pay taxes, meaning there is less left over to actually pay players. Florida has effectively like $15m more cap space than Toronto because of this. Florida, Tampa Bay, and Vegas all benefit massively, and wouldn't you know, they all also win cups because of it. The league is way tilted to teams in US states that have no state income tax.
@Xanlet You failed accounting. Teams don't pay players salary taxes. Only 3 Canadian teams make money! Thus only 3 pay any taxes. The other Canadian teams are subsidized by the 11 profitable teams. Then Revenue Canada allows tax exemptions (contracted retirement deferrals) on players salaries to equal US tax rates. Based on your theory, the Blue Jays wouldn't field a single player as nobody would sign to play for them. Florida, Tampa and Vegas players must pay State taxes on income earned playing outside of those 3 States. All 3 of those teams rostered players pay more into the escrow account as not one of those teams makes a profit.
@@maxmartin2763 Wrong again. Brian Burke even did a segment on this issue where he literally said that whenever he was going after a free agent in Toronto, they had to add an extra 1 million on to the offer to account for taxes. At the end of the day, if a player is playing in Canada, he will be paying more taxes on that income than if he signed in Florida or Vegas. I think Brian Burke and the Toronto Maple Leafs accounting team know more about this topic than you!
@Xanlet Welcome back to 2013 Brian Burke. Your still failing accounting. Revenue Canada taxes Florida players when they play in Canada. RC also allows Canadian contracts to be structured as retirement instruments, thus reducing player taxes. Why does Alberta tax Oiler/Flames players lower than Ontario taxes Leaf players. Should the Leafs have to compete within Canada on salaries? Since 2013 Revenue Canada has made changes to ensure pro-athletes in Canada are not penalized for playing in Canada. And you forgot about the withholding of salaries that ALL NHL teams do until the final audit on overall gross revenues is completed.
Xanlet has a point max. Maybe since 2013 its no longer a problem within Canada, but seems like low tax states are still at an advantage over any place in Canada
It’s a complex ‘gain sharing’ compensation system, I had to manage this type of compensation system for a major well known US corporation. It was extremely complex for the workers to understand but it was contractually agreed to and in the labour contract. The only way to get rid of this is the collective bargaining process, obviously negotiating is key.
It's not shady, and it doesn't matter if the owners have other businesses. These guys get their fair share out of the NHL revenue and there is no reason why they should ever worry about finances.
Unless they go bankrupt, or get injured and end up with short careers. I think they deserve their bucks more than the Kardashians. If you make under a million a year and your career is short, you aren't rich. I've read that it takes about 3 million USD to be independent of needing any future money. I'm not sure all hockey players or NFL players have that in hand after their careers are done. I'd be interested to know how many of them never need to work again.
You sound like someone that got beat up by hockey players in high school. They’re the talented ones they put their bodies and brains on the line so these billionaire owners can make money. The players deserve more than 50% I’m sorry they used to shove you on lockers as a kid.
Yeah agreed, give the owners more money! When I buy a ticket I'm really there to see the owners and executives. Honestly what a bonehead take. Just because they earn more money than you, doesn't mean they should be satisfied with an unequal share.
So many ignorant dumb people in chat focusing on a guy here who's made millions and complaining. The shady thing here is that the owners will never take responsibility for doing bad job but will do everything to put blame on their rich partners - basically in my view these internal fighting are human degeneracy.
“Every time I call it a business, you call it a game! And every time I call it a game, you call it a business!” - North Dallas Forty Different sport, but the sentiment is the same.
From the convo, sounds like there isn’t as much shadiness as just a lack of business and financial knowledge by the players. Also sounds like the players are shifty too. Double-expensing, etc. Also, there’s no NHL without the players, but there also isn’t one without the owners taking major financial risks too. It’s an ecosystem and all parts matter.
Lmao an ECHL player who’s trying to survive doubling up on a gas expense and an entire organization using shell companies to hide revenue from the league and the players is not exactly the same level of shady. Also the entire point of escrow is to ensure that the risk of a loss is not entirely on the owners of billion dollar assets, basically unheard of in any other business.
@@xyz-z9r9h if you make 25k per year, you’re scraping together every dollar and trying to survive that’s just how it works. No one could afford to play if the accommodations on the road weren’t covered. My point wasn’t that they should make more it’s that someone making peanuts trying to cut corners for an extra 100 bucks is a lot more understandable than a billionaire using accounting tricks to hide revenue from partners/ employees, make sense?
@@DonKnight-qi4tu - haha, love this! True of any business: without the customer there's no business at all. Like I said above, "it's an ecosystem, and all parts matter," *especially* the fans (as I stare down the barrel of a $22 arena beer and $150 for nosebleed tickets after all the fees... yikes).
They mention parking lots- the redwings have a new parking garage.....$50 to park for a game. Across the street, parking garage across the street....$10 for the whole day.
Those poor billionaire owners need all the help they can get............ The North American "business model" is based solely on GREED. Notice how ALL "cost of doing business" is ALWAYS carried by the workers and customers - NEVER on the business owners ends.... This ALL started with the "ahl bidness" - then took over Health Care in the USA.
To summarize...it's a business, and the business relationship has been thought out, negotiated, and is rather complicated, just like any other multi-billion dollar business.
As is medicine, dentistry, law, et al. They are all businesses. And they are all CORP(SE)orations doing business as (DBA) this/that org. All of the Departments of this and that including the military are, in fact.CORP(SE)ORATIONS..caps by design. YOUR NAME is in CAPS when they summons you to their courts for a volley. There are systems and subsystems as surely as there are effects and sub-effects. The sports entertainment business has its own agendas unknown to most of the "players". 🤔🤨😵💫
I'd love to see a Bundesliga model: teams all owned by the fans -- i.e., the cities and surroundings. Yes, you'd get some bigger teams and more dynasties, but is this so bad? Why shouldn't Toronto, Montreal and Vancouver have a chance to win more often? Or New York, Boston, Minnesota and Detroit?
Works great in the Bundesliga - Bayern dominates so hard that there is no point in even playing the season. And yes every 10 years another champ comes along but it’s a Bayern league for sure.
@@RaktajinoNX-74205 I've never figured out why teams in the other big cities of Germany can't compete with Bayern. They should be able to. Berlin and Hamburg are both bigger. Maybe they need to have only 1 team in Berlin. Hamburg is a huge city and has a lot of resources.
Here's what I don't understand: Why not negotiate contracts in terms of percentages, rather than dollars? Every team can spend up to 100 percent on player salaries. League minimum is, say, 1%, but a star might command up to 20%. Then, at the end of the season, they look at total revenue. Divide that by half, then by the number of teams, then pay out the appropriate shares to each player. So in Cory's example of $4B in revenue, the league minimum would be $625,000, and the star players would get up to $12.5M. That way, the salary cap doesn't change season-by-season, and NHL GMs don't have to guess whether it's going to go up or down in the future (because economists can't even predict that, let alone NHL GMs).
Gary "CASH"man has absolutely ruined the NHL. No Canadian team will ever win the cup when he's the Commissioner. Only AMERICAN teams who NEED a boost in popularity/ticket sales win the Cup.
Is it my imagination or are these guys conversing REALLY FAST!? Or did the person who did the editing simply speed up the audio in the interest of shortening the video so as not to lose the viewer/listener to boredom?
I'm skeptical as to the level of transparency on the part of the owners. Hopefully the NHLPA has good lawyers and financial people demanding details on revenue.
None of this is shady. If the league didn’t take stuff like this as seriously as it does, it would be prone to financial downfall. The owners and league stakeholders may not be altruistic in nature but it’s better this than mismanaging money
The podcast did him a bit dirty suggesting he's whistleblowing on the league when in fact he is just explaining the business end and not even really unfavorably.
the music industry is like 18% and the costs are on the artist's 18% and you don't make a penny until the costs are recouped. fancy champagne for the big DJ's - artist account, flights for someone to come interview you - artist account.
Hypothetically If the cap was set based on 4 billion and the income turns out to be 4.4 Billion. Do the players get 50% of the 4 hundred million extra? What happens to that extra money?
How about discussing what a lot of fans are concerned about. Is the NHL fixing the system so that only American teams win the cup. Does someone have the guts to spill the beans?
Brian Burke has talked about this. He said in Toronto they had to add an extra million to every offer to a free agent because of taxes. He had a whole segment explaining that this is why Canadian teams can't win.
Save your money. That's what I told a few future superstars not long ago. They look really good on the ice but their bank accounts may not when they retire. Most players retire at around 30 or 35 years of age. Chances are it's a long life after hockey and likely many girlfriends later that these guys will realize what I'm saying. Millions and millions of dollars, yes, but money comes and goes at a much higher rate for most of these guys. It's far easier to spend than it is to save. Off season chores for every player should be to learn how to save money properly.
Poor millionaires. Imagine if people put all the money, time, energy, and devotion they lavish on athletes/actors/musicians into themselves and their loved ones and their communities?
Imagine if the government didn’t take half of every dollar we earned so we had money left over to invest in our communities. No one is being forced to attend NHL games, the NHL is not the enemy of the people.
In the past 5 years the NHLs biggest money pits and burdens became very profitable. 10 years ago the canes,panthers and islanders cost the league 150 million a year in losses now the canes and panthers sellout every game and the islanders have the nicest most profitable arena in the league bar none
"Make the owners whole" -- lol, what hockey turns out to be about. Not the players, not the rules, not the tradition, certainly not the fans. The owners. Lol.
@@ericweeks8386 But the game predates it being a business. Thinking of it as a business is helpful and a bit disheartening. Also, the kind of business it is has changed. It's a franchise now, with a lot of what is good and bad about franchises.
Without the owners you wouldnt have a league to watch so if you dont like it go get a different hobby. Im sure you have local hockey teams/rinks, go down and watch some beer league hockey instead of making stupid complaints and then watching the nhl anyways.
At the end of the day the NHL is a business. The only way that it stays viable is by making money. As with any other business, it's the business owners that come out on top (if it's a good business). The players are the well known ones, but they are employees. Being an employee is the worst position in terms of taxes, pay, etc. The business savvy players manage their own business and get endorsements, etc. to set up other income streams. It's incumbent upon the player to be aware of what's going on on the business side. If they are not interested in this, that's fine. Just don't come back whining that you got "screwed over" because you didn't do your homework.
Except everything said here shows that - in your words - each side is keeping the other accountable. So, the NHL is not shady, not based on anything said here. Jesus.
You miss the point, rich owners taking from the players so the owners never lose money. Do you like when your job says... we didn't make any money this year because we did X so no raises this year.
I get where you're coming from but there are some factors to consider. The minimum NHL salary is $750,000, so all players are making a good buck. Now if they had the normal expectancy of a 30 or 40 year career they would be all set. However, the average NHL career is like 4 years and change. Also, most of these guys have dedicated their entire lives to getting good enough to make it to the NHL, meaning they have no other skills to fall back on when the NHL decides they're no longer useful.. Now, obviously most players make more than the minimum and the megabucks stars (maybe 2 to 4 per team) are obscenely wealthy, but much less so than all the other major sports. But, even considering them, when you realize that just making it to the NHL puts you in probably the top 1% of all serious competitive hockey players in the world and that being a star among that league elevates you much more isn't it sort of part of the "American Dream" (or Canadian) to earn riches for being extremely successful. Isn't that why so many parents encourage their kids to be doctors and lawyers etc...? Personally, I don't think you can fault players for wanting to maximize their earnings during their relatively brief careers. Also, the owners are the real fat cats and the last time I looked into every NHL team was making money except Phoenix I believe. I think it's a travesty when they cry poor!
I didn't interpret his assessment as condoning, but rather telling it the way he sees it. He also agreed that it's shady on both sides later in the discussion
Not defending the ECHL but they arent making billions like the nhl. Its not cheap to run hockey clubs and pay for travel, hotels, transportation etc. These teams arent charities, if they dont earn enough they will fold and you will lose the echl for development which hurts hockey in total.
People are shocked that business is in business for profit? Let me ask you if you ran a business wouldn't it be to make money? I have no faith in people this isn't being shady this is business wtf
More videos like this please . I'd listen more often if you stopped the rage bait and had an honest approach to your videos and didn't try and be the antithesis to the "main stream media" like you claim to be.
Cry me a river! The players negotiated the 50/50 split. It is not shady, it is business. The salary cap brings a semblance of competitive balance. Otherwise you have baseball where the Dodgers and Yankees outbid most others and win every year so now nobody watches anymore. Oh, and how much did Schneider make?
I mean….. be mad at the players and the players union. They agreed to this in the last CBA. Nobody feels bad for the players when they agreed to this dumb system. Smh
Hockey is the greatest sport in the world, held back by a shitty organization run by the ol boys who refuse to adapt with the times and to market the players better.
Pick your poison. You either have parity in the league and are forced to develop and draft well to have younger less well paid players contribute, or you have pre-cap where you have teams like the 93 rangers duct taping a winner together, or have the poor teams trading players for cash.
He’s got a ridiculously poor understanding of business He complains that the players play insurance out of there share. Well the owners pay all of the operational costs.
@@nimo6972 they arent overpaid, did you even listen to the podcast or does your brain not work? The league earns a certain revenue and it is in part because of the players that they earn it, they get 50%. If the league wasnt making money they would get no money and if the league was making trillions they would earn 50% of it. Its simple economics. If you want the players to earn less the owners would just earn more. If you want them to get paid less just dont watch or spend your money on the product. Go outside and do something productive instead.
@nimo6972 how are they overpaid? That's how capitalism works. Would you rather the billionaire owners keep a greater share and the athletes take less?
you may be the product my boy but ownership owns the factory and store and without them your product is worthless. You think Walmart gives it's employees a nice share of the pie? NO and why should they...they are a business to make money...employees don't have to work there...they take what they get and shut up and not while floating in their pool at their mansion..
Large public companies and even smaller ones will typically offer profit-sharing plans to their employees (ex. contribute 5% of your paychq to purchasing shares of the company, and we'll match 2.5%), so yes in a very real way they are sharing the pie via company-paid common share purchases. You might not think it's worth much to start, but after just 10-15 years of contributions you'll see a nice retirement nest egg start to take shape if the company continues to do well. Now imagine after 25-30 years. 35 years? As an employee with a decent holding of company shares you now also have a vested interest in seeing the company succeed, which will motivate you to do your job better, which collectively makes the company better and more valuable, which feeds back into your retirement nest egg. It's a positive feedback loop, everyone wins. Just because you won't make $25 million like the CEO doesn't mean you can't stake a good living and accrue significant savings. It's very much attainable, but people need to stop dreaming about getting rich overnight. Investing is slow and boring, but there is a good payoff at the end of it.
Come on save your money,you gotta know the term cycle of NHL,layers maybe 4 or 5 years,save they also make a decent if not good salary in the AHL!Sorry no tears here,worked 46 years out in the weather,started in 1970,after Viet Nam,for one dollar and sixty seven cents an hour,USA!46 years later retired at 68 years old,in 2016 at twenty five dollars an hour!My heart bleeds for you,NO,Way,Ever!Thomas A.FilipiakA old Chicago guy!
Why are there so many haters in these comments. He’s simply explained how the system works, he’s not asking for anyone’s sympathy. And the personal attacks are gross. I loved Schneider, he was probably the most generous guy in the league. Yea he didn’t have a great end to his career but he also had some bad luck. He has to back up Luongo and Brodeur, not easy for any goalie to stand in those shadows, and he got saddled with bad teams. Hockey goalie is the most challenging position in sports. You are in individual contributor in a team game where success or failure squarely falls on your shoulders. The mental gymnastics these guys go through is unparalleled. If you look at his record, even in losing seasons his personal stats were excellent. He got the crap end of the stick for many years and deserved a better opportunity. Jersey still loves you Cory.
Most normal goalie I have ever seen.
Not haters. Appreciators. But it is the underside of hockey, and we don't usually think about it. Also, brings in NBA, which is enlightening, but a bit disheartening. Guys making 10 million a year worry about 10 thousand bucks.
I think it's because he comes across as ungrateful.
" we only get 5 million " and we have to pay our own insurance. The average listener may not be able to afford their home and we've got guys talking about how it's unfair they only make X million per year.
The correct take on this would have been, " we play a game for a living and if we are smart with that income... We retire being able to do anything we want for the rest of our lives. We only really work for 19 years of our entire life and retire at 39 years old for the most part ".
It’s simple….people are stupid. Really really stupid..
It's hockey fans. One good thing is that they don't hold back comments or hide their true nature. But easily baited and triggered.
Cory Shnizzle to the Dizzle. Get this guy on the televised panel. Great personality and insight.
Because he couldn't STOP a Beach Ball as a Goalie ! Defeated attitude !!!!!
Cory what an intelligent man. Well spoken
You’re telling me . We should have kept him over money bags luongo up in Van
@@jordancarlin9687 Schneids played 3 great seasons in NJ then got hurt and was never the same so it wouldn’t have done us much better. We got Horvat from trading Schneider and Markstrom for Lou and both those trades worked out.
That Boston education is ranked high in US for reason
@@kubes8388 That's not saying much if you look at the average American.
Because he couldn't STOP a Beach Ball as a Goalie ! Defeated attitude !!!!!
And now the fans and families are footing the bill. My wife and son and I saw McDavid play the Habs last year. My son is a die hard McDavid fan so we flew to Montreal for the game. We sat in the 3rd deck because the lower bowl was 1100 per ticket. I still paid 350 a ticket in the nose bleeds. The average family has been priced out of sports.
Uh, why didn't you fly to florida california? Jersey colombus? 3300 would have bought a full budget trip.
Btw, you are correct.
@MrGamman3yt not from Newfoundland it wouldn't
Yeah way to expensive. I live in Toronto and a 2nd row ticket would have been $900 plus $50 for parking and food and beer $50. So $1000 for 1 person.
Instead, I drove to Detroit and bought 2nd row tickets for $135 USD for Detroit vs Nashville. I got a nice hotel and made a nice weekend out of it. And I went to the Ford Museum and got a tour of the factory and that cost me $55 for 2 days of entertainment.
It came out to less than $1000.
It's a joke
The average Canadian family. It's not like that in the USA. You can get good football tickets for $300 CAD
To the tone deaf bozos in the comments: he's explaining how it works, he's not asking you to donate to his GoFundMe🤣🤣🤣
No wonder a beer is eighteen dollars
Most arenas don't own the concessions, they hire an outside company that provides the food and drinks, hire the cooks and the servers and the cashiers, so they set the prices on everything.
@@keithmiller7610Wait what. Yes, most NHL teams own the concessions in the arenas. Companies and small businesses rent out the concessions. Not all cases, but it’s definitely most cases regarding NHL arenas.
I don't drink, but if I did no way I would pay $18 for a beer. I know last season I went to a few games. The first game I went to I paid $25 for a burger, fry's, and a soft drink. Now I eat before I leave for the game. The most I will buy is a popcorn and a soft drink. Even that is costly. I can't afford to go to many games, but when I do I refuse to pay an arm and a leg for something to eat.
It would still be $18 even if the players were making minimum wage. Those teams know how to milk a cow.
Look up 10 cent beer night
That's the business of sports, plain and simple.
And these huge NHL numbers he's talking about are dwarfed by the numbers when it's the NBA, MLB or NFL.
...and it's actually sports entertainment. And that's a very important distinction. They can fix the results legally.
@@curiousbrowza no, they cannot fix the results legally
Cory is like that one guy who we all would love to have as a friend.
speak for your self !!!!!!!
Because he couldn't STOP a Beach Ball as a Goalie ! Defeated attitude !!!!!
Hockey is a great game but when you make it a business you get greedy people ,
Consider that some of the best hockey you might see is on a lot of those frozen ponds. 😝
@@curiousbrowza you got it .
After hearing about escrow i no longer want to play in the NHL
Damn… what a shame. Sure the league is so upset about that 😂
That's why I retired early. 🤭
🤣 Best comment 🤣
No wonder Canadian teams never win 🤣 our economy is trash
Interesting discussion. Well spoken, great goalie in his prime.
Interesting fact. The 5 highest earning NHL players of all time (Crosby, Ovechkin, McDavid ETC) have made less than Jaun Soto’s 760 million.
McDavid isnt top 5, heck I doubt he is in the top 20.
combined
ETC was the goat
So what! It's all about the income. Baseballs tv deal foots every teams total expenses, ticket sales are gravy. The NHL has no such luxury.
You had to say "ETC" instead of just naming 2 more players? lmao dude
Loved Cory on the Devils he carried this team for years! Very informative and level headed take on the business of the NHL. For anyone saying he’s saying he’s only making this or that he’s not whining he’s just explaining how it works
I have always wondered why the players are on the hook for 50% escrow but have absolutely no say in league decisions like the Arizona situation
Better spoken than most professional speakers or politicians 😊
This was actually very interesting 😊
"It sucks to see 15% of your paycheck get taken out" 🤣
The NHL escrow and salary cap system is an absolute necessity. It doesn't allow the 11 profitable teams to outspend every other team. (21 lose $$) Prior to the salary cap, 5 teams had payrolls 3 times higher than 12 other teams. It was out of control. The biggest winners of the cap/escrow system were 4 of the 7 Canadian teams.
Wrong. Taxes are much higher in Canada, meaning way more of the Canadian teams cap just goes to pay taxes, meaning there is less left over to actually pay players. Florida has effectively like $15m more cap space than Toronto because of this. Florida, Tampa Bay, and Vegas all benefit massively, and wouldn't you know, they all also win cups because of it. The league is way tilted to teams in US states that have no state income tax.
@Xanlet You failed accounting. Teams don't pay players salary taxes. Only 3 Canadian teams make money! Thus only 3 pay any taxes. The other Canadian teams are subsidized by the 11 profitable teams.
Then Revenue Canada allows tax exemptions (contracted retirement deferrals) on players salaries to equal US tax rates. Based on your theory, the Blue Jays wouldn't field a single player as nobody would sign to play for them. Florida, Tampa and Vegas players must pay State taxes on income earned playing outside of those 3 States. All 3 of those teams rostered players pay more into the escrow account as not one of those teams makes a profit.
@@maxmartin2763 Wrong again. Brian Burke even did a segment on this issue where he literally said that whenever he was going after a free agent in Toronto, they had to add an extra 1 million on to the offer to account for taxes. At the end of the day, if a player is playing in Canada, he will be paying more taxes on that income than if he signed in Florida or Vegas. I think Brian Burke and the Toronto Maple Leafs accounting team know more about this topic than you!
@Xanlet Welcome back to 2013 Brian Burke. Your still failing accounting. Revenue Canada taxes Florida players when they play in Canada. RC also allows Canadian contracts to be structured as retirement instruments, thus reducing player taxes. Why does Alberta tax Oiler/Flames players lower than Ontario taxes Leaf players. Should the Leafs have to compete within Canada on salaries? Since 2013 Revenue Canada has made changes to ensure pro-athletes in Canada are not penalized for playing in Canada. And you forgot about the withholding of salaries that ALL NHL teams do until the final audit on overall gross revenues is completed.
Xanlet has a point max. Maybe since 2013 its no longer a problem within Canada, but seems like low tax states are still at an advantage over any place in Canada
This is another reason why so many older guys want to play in no tax states.
Anybody who has a brain wants to live in no tax states.
It’s a complex ‘gain sharing’ compensation system, I had to manage this type of compensation system for a major well known US corporation. It was extremely complex for the workers to understand but it was contractually agreed to and in the labour contract. The only way to get rid of this is the collective bargaining process, obviously negotiating is key.
@Pulsar.88 LOL I was too lazy to look up the other 2 guys. Think it might be Matthews and McKinnon
It's not shady, and it doesn't matter if the owners have other businesses. These guys get their fair share out of the NHL revenue and there is no reason why they should ever worry about finances.
They have been programmed to whine
its about fairness
you want zio betman making even more money? the man is a leech and parasite
Unless they go bankrupt, or get injured and end up with short careers. I think they deserve their bucks more than the Kardashians. If you make under a million a year and your career is short, you aren't rich. I've read that it takes about 3 million USD to be independent of needing any future money. I'm not sure all hockey players or NFL players have that in hand after their careers are done. I'd be interested to know how many of them never need to work again.
You sound like someone that got beat up by hockey players in high school. They’re the talented ones they put their bodies and brains on the line so these billionaire owners can make money. The players deserve more than 50% I’m sorry they used to shove you on lockers as a kid.
Yeah agreed, give the owners more money! When I buy a ticket I'm really there to see the owners and executives. Honestly what a bonehead take. Just because they earn more money than you, doesn't mean they should be satisfied with an unequal share.
Schneider is a insane goalie, retired with 2.4 gaa // .918%
So many ignorant dumb people in chat focusing on a guy here who's made millions and complaining. The shady thing here is that the owners will never take responsibility for doing bad job but will do everything to put blame on their rich partners - basically in my view these internal fighting are human degeneracy.
“Every time I call it a business, you call it a game! And every time I call it a game, you call it a business!”
- North Dallas Forty
Different sport, but the sentiment is the same.
From the convo, sounds like there isn’t as much shadiness as just a lack of business and financial knowledge by the players.
Also sounds like the players are shifty too. Double-expensing, etc.
Also, there’s no NHL without the players, but there also isn’t one without the owners taking major financial risks too. It’s an ecosystem and all parts matter.
Lmao an ECHL player who’s trying to survive doubling up on a gas expense and an entire organization using shell companies to hide revenue from the league and the players is not exactly the same level of shady. Also the entire point of escrow is to ensure that the risk of a loss is not entirely on the owners of billion dollar assets, basically unheard of in any other business.
F the millionaires and billionaires, there is no NHL without the fans.
@@xyz-z9r9h don’t know what industries you’ve worked in but yeah they do, it’s called a bonus.
@@xyz-z9r9h if you make 25k per year, you’re scraping together every dollar and trying to survive that’s just how it works. No one could afford to play if the accommodations on the road weren’t covered. My point wasn’t that they should make more it’s that someone making peanuts trying to cut corners for an extra 100 bucks is a lot more understandable than a billionaire using accounting tricks to hide revenue from partners/ employees, make sense?
@@DonKnight-qi4tu - haha, love this! True of any business: without the customer there's no business at all. Like I said above, "it's an ecosystem, and all parts matter," *especially* the fans (as I stare down the barrel of a $22 arena beer and $150 for nosebleed tickets after all the fees... yikes).
They mention parking lots- the redwings have a new parking garage.....$50 to park for a game. Across the street, parking garage across the street....$10 for the whole day.
Those poor billionaire owners need all the help they can get............ The North American "business model" is based solely on GREED.
Notice how ALL "cost of doing business" is ALWAYS carried by the workers and customers - NEVER on the business owners ends....
This ALL started with the "ahl bidness" - then took over Health Care in the USA.
Interesting. I never realized all of this stuff, but it makes a TON of sense too.
To summarize...it's a business, and the business relationship has been thought out, negotiated, and is rather complicated, just like any other multi-billion dollar business.
With unions.
Cause they 'make no money'. Weird with 100 tickets and 16 beers.
As is medicine, dentistry, law, et al. They are all businesses. And they are all CORP(SE)orations doing business as (DBA) this/that org. All of the Departments of this and that including the military are, in fact.CORP(SE)ORATIONS..caps by design. YOUR NAME is in CAPS when they summons you to their courts for a volley. There are systems and subsystems as surely as there are effects and sub-effects. The sports entertainment business has its own agendas unknown to most of the "players". 🤔🤨😵💫
cory schneider: nhl goaltender, economist
I'd love to see a Bundesliga model: teams all owned by the fans -- i.e., the cities and surroundings. Yes, you'd get some bigger teams and more dynasties, but is this so bad? Why shouldn't Toronto, Montreal and Vancouver have a chance to win more often? Or New York, Boston, Minnesota and Detroit?
Works great in the Bundesliga - Bayern dominates so hard that there is no point in even playing the season. And yes every 10 years another champ comes along but it’s a Bayern league for sure.
Do you, like, understand, well, any thing?
@@RaktajinoNX-74205 I've never figured out why teams in the other big cities of Germany can't compete with Bayern. They should be able to. Berlin and Hamburg are both bigger. Maybe they need to have only 1 team in Berlin. Hamburg is a huge city and has a lot of resources.
@@jho2255 Do I, like, understand, well, gee whiz anything, gosh, ... lol. Genius at work. Thanks for your commentary. My day is complete.
Here's what I don't understand:
Why not negotiate contracts in terms of percentages, rather than dollars? Every team can spend up to 100 percent on player salaries. League minimum is, say, 1%, but a star might command up to 20%.
Then, at the end of the season, they look at total revenue. Divide that by half, then by the number of teams, then pay out the appropriate shares to each player. So in Cory's example of $4B in revenue, the league minimum would be $625,000, and the star players would get up to $12.5M.
That way, the salary cap doesn't change season-by-season, and NHL GMs don't have to guess whether it's going to go up or down in the future (because economists can't even predict that, let alone NHL GMs).
Owners have their facilities paid for by the taxpayers.
Yes, if anyone in these comments should be upset about anything it is this fact right here.
If you guys don’t want the original 6 teams & a couple other like Vegas winning every year, then yes, you need the cap & escrow.
Instead we just have low income tax teams winning every year. Great.
It’s so easy to forget that like all other pro sports , hockey is big business. Very big.
Gary "CASH"man has absolutely ruined the NHL. No Canadian team will ever win the cup when he's the Commissioner. Only AMERICAN teams who NEED a boost in popularity/ticket sales win the Cup.
Anything the Jew Bettman handles is bound to be shady at best and downright corrupt at worst. Never trusted him and never will.
Biggest mistake the players ever made. They should have held out longer. My Maple Leafs have suffered because of this ridiculous cap.
Yeah that's it alright 😂
Is it my imagination or are these guys conversing REALLY FAST!? Or did the person who did the editing simply speed up the audio in the interest of shortening the video so as not to lose the viewer/listener to boredom?
Likely the latter
Yah weird choice. You can tell by how fast they are blinking lol
I'm skeptical as to the level of transparency on the part of the owners. Hopefully the NHLPA has good lawyers and financial people demanding details on revenue.
Only people getting screwed is the fans
I would’ve had so much fun if I could’ve audited other teams in GM Connected back in like 2013 😂
None of this is shady. If the league didn’t take stuff like this as seriously as it does, it would be prone to financial downfall. The owners and league stakeholders may not be altruistic in nature but it’s better this than mismanaging money
The Canucks should’ve kept him
No, escrow will never be part of an EA Sports game. Unless of course it can be used to gaslight children into buying more Ultimate Team packs.
Even small business corporate taxes project your income and make you " pre pay " it.
The podcast did him a bit dirty suggesting he's whistleblowing on the league when in fact he is just explaining the business end and not even really unfavorably.
Out of the "big 4" only the NHL has this problem.
the music industry is like 18% and the costs are on the artist's 18% and you don't make a penny until the costs are recouped. fancy champagne for the big DJ's - artist account, flights for someone to come interview you - artist account.
This is eye opening, I was always on the owners side in all these arbitration battles, this definitely puts me on the fence with this now 🧐
...until the pendulum swings the other way and you have to pay $200+ for a nosebleed seat.
really well spoken. Cory clearly explains a boring and complex topic.
NHL is in a way better position then NBA. I gotta give Bettman some respect
Fuel per diems are usually 50cents a Km or in around there. You can’t just say I put 7K in the tank and get paid.😅
This is why in the 50 years of my life I have never ever spent any money on an NHL ticket.
@JoeyMossCoilers You're such a hero
The National felons league is worse
Movie stars Telly Vision Rock Stars Play Golf Cruises Sports Cars Regular Cars Druks & Booze much
Oh, the saviour of the world is here!
You sure have made a difference in the world
I love Cory. He is a beauty!!+
Hypothetically
If the cap was set based on 4 billion and the income turns out to be 4.4 Billion. Do the players get 50% of the 4 hundred million extra?
What happens to that extra money?
Sounds like the owners are downloading risk onto their employees…
None of this is shady it’s just exactly what the union agreement outlines in a 50/50 split. It’s based on revenue and you get 50%.
was a fan as a devil, still am.
How about discussing what a lot of fans are concerned about. Is the NHL fixing the system so that only American teams win the cup. Does someone have the guts to spill the beans?
Brian Burke has talked about this. He said in Toronto they had to add an extra million to every offer to a free agent because of taxes. He had a whole segment explaining that this is why Canadian teams can't win.
The crazy thing is the players allowed the nhl to run a dead franchise in Arizona for 20 years
Save your money. That's what I told a few future superstars not long ago. They look really good on the ice but their bank accounts may not when they retire. Most players retire at around 30 or 35 years of age. Chances are it's a long life after hockey and likely many girlfriends later that these guys will realize what I'm saying. Millions and millions of dollars, yes, but money comes and goes at a much higher rate for most of these guys. It's far easier to spend than it is to save. Off season chores for every player should be to learn how to save money properly.
Poor millionaires.
Imagine if people put all the money, time, energy, and devotion they lavish on athletes/actors/musicians into themselves and their loved ones and their communities?
its about fairness
you want zio betman making even more money? the man is a leech and parasite
Imagine if progressive idiots didnt say things like that
Imagine if the government didn’t take half of every dollar we earned so we had money left over to invest in our communities. No one is being forced to attend NHL games, the NHL is not the enemy of the people.
@@lancemajestic Amen! Marc is just the typical faux progressive who hates people for their success because they don't have their own merit.
Best reply to any sport period spend your money on your family not these people
The don't have a league without players but players don't have a job without owners so it seems pretty fair.
In the past 5 years the NHLs biggest money pits and burdens became very profitable. 10 years ago the canes,panthers and islanders cost the league 150 million a year in losses now the canes and panthers sellout every game and the islanders have the nicest most profitable arena in the league bar none
Worlds tiniest violin playing in 3...2...1...
worlds biggest moron revealing itself. lol 💩
He didn't know what 133 ÷ 2 was
If you're a non thinking Canadian
its about fairness
you ant zio betman making even more money? the man is a leech and parasite
Hahhahaha 😂. My dad use to say that line to me when I was kid. He usually said it when I asked to get money off him or a toy at the store 😂.
"Make the owners whole" -- lol, what hockey turns out to be about. Not the players, not the rules, not the tradition, certainly not the fans. The owners. Lol.
When did the NHL stop being a charity? I forgot that happened...
It is a business after all.
@@ericweeks8386 But the game predates it being a business. Thinking of it as a business is helpful and a bit disheartening. Also, the kind of business it is has changed. It's a franchise now, with a lot of what is good and bad about franchises.
Without the owners you wouldnt have a league to watch so if you dont like it go get a different hobby. Im sure you have local hockey teams/rinks, go down and watch some beer league hockey instead of making stupid complaints and then watching the nhl anyways.
At the end of the day the NHL is a business. The only way that it stays viable is by making money. As with any other business, it's the business owners that come out on top (if it's a good business). The players are the well known ones, but they are employees. Being an employee is the worst position in terms of taxes, pay, etc. The business savvy players manage their own business and get endorsements, etc. to set up other income streams. It's incumbent upon the player to be aware of what's going on on the business side. If they are not interested in this, that's fine. Just don't come back whining that you got "screwed over" because you didn't do your homework.
Except everything said here shows that - in your words - each side is keeping the other accountable. So, the NHL is not shady, not based on anything said here. Jesus.
Oh man! Only 5.1 million instead of 6 million , what a travesty!
You miss the point, rich owners taking from the players so the owners never lose money. Do you like when your job says... we didn't make any money this year because we did X so no raises this year.
I had tears in my eyes poor thing
@@EattheApple666 Sounds like a reasonable reason to not receive a bonus
@@EattheApple666 im just kidding around, dont read too much into it.
I get where you're coming from but there are some factors to consider. The minimum NHL salary is $750,000, so all players are making a good buck. Now if they had the normal expectancy of a 30 or 40 year career they would be all set. However, the average NHL career is like 4 years and change. Also, most of these guys have dedicated their entire lives to getting good enough to make it to the NHL, meaning they have no other skills to fall back on when the NHL decides they're no longer useful.. Now, obviously most players make more than the minimum and the megabucks stars (maybe 2 to 4 per team) are obscenely wealthy, but much less so than all the other major sports. But, even considering them, when you realize that just making it to the NHL puts you in probably the top 1% of all serious competitive hockey players in the world and that being a star among that league elevates you much more isn't it sort of part of the "American Dream" (or Canadian) to earn riches for being extremely successful. Isn't that why so many parents encourage their kids to be doctors and lawyers etc...? Personally, I don't think you can fault players for wanting to maximize their earnings during their relatively brief careers. Also, the owners are the real fat cats and the last time I looked into every NHL team was making money except Phoenix I believe. I think it's a travesty when they cry poor!
Slow the speed down lol
Played it at 0.75x
Cory complains about NHL owners being shady but then condones the ECHL player for also being shady.
I didn't interpret his assessment as condoning, but rather telling it the way he sees it. He also agreed that it's shady on both sides later in the discussion
@@oldboydog He said about the ECHL player: "I don't blame them. They're trying to find a way to make a little bit more." Sounds like condoning to me.
Not defending the ECHL but they arent making billions like the nhl. Its not cheap to run hockey clubs and pay for travel, hotels, transportation etc. These teams arent charities, if they dont earn enough they will fold and you will lose the echl for development which hurts hockey in total.
“Its never fun to pay the escrow” I think we should open a go fund me to help these guys out.
There are guys making under a million a year. Who have 4 year careers and some minor league years. There not all Connors.
Cory mafe $54 million in pay dueing his career. No matter ohiw much they took out if his taxes, etc, I think he'll be ok
Ok give me some of your salary you agreed to because I didn't run my business well enough so I'm need it back.
It is not like he's complaining about anything, he's just explaining escrow and revenue sharing in the nhl.
You guys do realize Utah is in the NHL…right?
Or are you referring to the Utah Grizzlies of the ECHL?
I think they were referring to Utica.
People are shocked that business is in business for profit? Let me ask you if you ran a business wouldn't it be to make money? I have no faith in people this isn't being shady this is business wtf
More videos like this please . I'd listen more often if you stopped the rage bait and had an honest approach to your videos and didn't try and be the antithesis to the "main stream media" like you claim to be.
Cry me a river! The players negotiated the 50/50 split. It is not shady, it is business. The salary cap brings a semblance of competitive balance. Otherwise you have baseball where the Dodgers and Yankees outbid most others and win every year so now nobody watches anymore. Oh, and how much did Schneider make?
I mean….. be mad at the players and the players union. They agreed to this in the last CBA. Nobody feels bad for the players when they agreed to this dumb system. Smh
Pride of Mahhhbelhead, MA
Face hugging shinny league
Hockey is the greatest sport in the world, held back by a shitty organization run by the ol boys who refuse to adapt with the times and to market the players better.
Booster club getting players to sign hockey sticks and then it turns up on EBay
do pay income tax on escrow?
VANCOUVER LEGEND
Pick your poison. You either have parity in the league and are forced to develop and draft well to have younger less well paid players contribute, or you have pre-cap where you have teams like the 93 rangers duct taping a winner together, or have the poor teams trading players for cash.
Canadian teams have always proped up the American teams and their $30 tickets.
He sound like a crypto analyste
Thought all players get paid in US dollars.
This is why NHL hockey sucks today
He’s got a ridiculously poor understanding of business
He complains that the players play insurance out of there share.
Well the owners pay all of the operational costs.
You don't say.
Wow, they are complaining about making millions in a game, that is seasonal.
Sometimes fans will boo them in the stands tho
I don't hear complaining.. he is simply explaining what many of us don't understand.
@@OG785
Are you kidding, we understand they are all over paid.
@@nimo6972 they arent overpaid, did you even listen to the podcast or does your brain not work? The league earns a certain revenue and it is in part because of the players that they earn it, they get 50%. If the league wasnt making money they would get no money and if the league was making trillions they would earn 50% of it. Its simple economics.
If you want the players to earn less the owners would just earn more. If you want them to get paid less just dont watch or spend your money on the product. Go outside and do something productive instead.
@nimo6972 how are they overpaid? That's how capitalism works. Would you rather the billionaire owners keep a greater share and the athletes take less?
Do the minor leagues have players' associations?
Jesus the NHL blows.
you may be the product my boy but ownership owns the factory and store and without them your product is worthless. You think Walmart gives it's employees a nice share of the pie? NO and why should they...they are a business to make money...employees don't have to work there...they take what they get and shut up and not while floating in their pool at their mansion..
The federal reserve feels the same way about america
Large public companies and even smaller ones will typically offer profit-sharing plans to their employees (ex. contribute 5% of your paychq to purchasing shares of the company, and we'll match 2.5%), so yes in a very real way they are sharing the pie via company-paid common share purchases. You might not think it's worth much to start, but after just 10-15 years of contributions you'll see a nice retirement nest egg start to take shape if the company continues to do well. Now imagine after 25-30 years. 35 years? As an employee with a decent holding of company shares you now also have a vested interest in seeing the company succeed, which will motivate you to do your job better, which collectively makes the company better and more valuable, which feeds back into your retirement nest egg. It's a positive feedback loop, everyone wins. Just because you won't make $25 million like the CEO doesn't mean you can't stake a good living and accrue significant savings. It's very much attainable, but people need to stop dreaming about getting rich overnight. Investing is slow and boring, but there is a good payoff at the end of it.
Come on save your money,you gotta know the term cycle of NHL,layers maybe 4 or 5 years,save they also make a decent if not good salary in the AHL!Sorry no tears here,worked 46 years out in the weather,started in 1970,after Viet Nam,for one dollar and sixty seven cents an hour,USA!46 years later retired at 68 years old,in 2016 at twenty five dollars an hour!My heart bleeds for you,NO,Way,Ever!Thomas A.FilipiakA old Chicago guy!
You should have stayed in school and learn some basic grammar.
Well thats dubm lol the owners make 50%?? How lol thats just stupid
Why should 32 owners get half and 736 players,who do all the work, simply get half split among all of them?