Lorbek to re-sign with Barcelona (Update: Now a done deal)

[Big P]

Camby maybe, but Kaman is looking for $8 to $10 mil. per year.....Kamans not gonna happen.

[Bruno]

Until we see the news that Lorbek chose Barcelona for another source, I'm going to take it with a giant grain of salt. If Lorbek really did sign one of the largest contracts in European basketball history, it'd be in more than one publication.

Yep, that's wise. They published it 12 hours ago and no one else has confirmed it since that.

[CGD]

Seems like it was a game of chicken btwn Barca and Spurs to see who would make the offer first. Looks like spurs get a chance to see Barca's hand first.

[CGD]

Something I just noticed: Diaw and Lorbek share an agent (Diaw's primary agent is Lorbek's secondary agent). That probably makes it more difficult to squeeze both of them into the MLE. It also makes it impossible to negotiate with one of them without both hearing about it.

That could explain why the spurs are doing other work first (going after Camby and De Colo) before tackling Diaw and Lorbek.

Conflict of interest much?

[ploto]

It helps that Texas has no state taxes of course, or else the gross up would be more..

NBA players have to pay state income tax by state in which games are played. Over half would be in states without income tax but they have to pay proportionally for the rest by state.

[ploto]

That would be correct for a straight up income tax, but I'm fairly confident that a good accountant can get you to pay less, but I don't think he could get much under 30%, that's why I guessed $2.5M as a best case ...

Let's see if we can get some confirmation/better info tomorrow.

One article said something about part of the contract being under favorable tax terms but I have no idea how that would work.

[CGD]

NBA players have to pay state income tax by state in which games are played. Over half would be in states without income tax but they have to pay proportionally for the rest by state.

True, though, I would imagine the ulative tax liability would still be less than if his tax-home was in a tax state (e.g., New York). Interestingly if a player's tax-home is tax state (e.g., New York), then the player would in all likelihood get a credit from each state he "works" in to offset the tax liability owed to them. But if your in Texas, Florida, or Tennessee (or another non-tax state), then the player does NOT get that credit.

[ploto]

True, though, I would imagine the ulative tax liability would still be less than if his tax-home was in a tax state (e.g., New York). Interestingly if a player's tax-home is tax state (e.g., New York), then the player would in all likelihood get a credit from each state he "works" in to offset the tax liability owed to them. But if your in Texas, Florida, or Tennessee (or another non-tax state), then the player does NOT get that credit.

My understanding is that they have to file a state tax return in every state in which they play that has a state income tax.

[ElNono]

Can one of our slovenian friends comment on this?

http://kosarka.si/erazem-lorbek-najb...odovini-barce/

[Slomo]

Can one of our slovenian friends comment on this?

http://kosarka.si/erazem-lorbek-najb...odovini-barce/

A reprint of the Op's original info, and the same speculations that we are also making in this thread (best contract in Europe, 3M/year, CSKA and Spurs still an option...)

I looked around for a second source/confirmation and I didn't find anything, everybody is citing that one article.

[timvp]

I'm going to assume Lorbek hasn't decided. There'd be more confirmation out by now. Besides, the timing doesn't make some sense. Lorbek himself said the Spurs told him to wait while they take care of other business first. There's really no reason for him not to wait a week or two before deciding his next move.

[CGD]

My understanding is that they have to file a state tax return in every state in which they play that has a state income tax.

Thats my understanding too. But if one lives in a state with no income tax (eg Texas) that person may not be en led to a credit for taxes paid in another state, whereas if the state does have an income a person still has to file taxes in hat state but would get some sort of credit for the liability.

For example, this past year I had to file in Maryland and Michigan (both income tax states). I received a tax credit from Maryland inthe amount of what my liability would have been bc I had abandoned my residence in Maryland. It's all minutia of course, but it goes to show there is more to the "no state taxes" consideration.

[BRs.Ganso]

Lorbek don't want be the next Splitter.

[ElNono]

A reprint of the Op's original info, and the same speculations that we are also making in this thread (best contract in Europe, 3M/year, CSKA and Spurs still an option...)

I looked around for a second source/confirmation and I didn't find anything, everybody is citing that one article.

thanks Slomo

[BatManu20]

Ronny Turiaf, Antawn Jamison, Nenad Krstic.

Is it possible Spurs could get one of them?

If that's our big move then we're screwed..

[BackHome]

I agree.......we need to make some moves and I don't know what they are but just signing Diaw is not going to get it done. We really need another scorer someone who's balls won't shrivel up come playoff time...ie..Boner.

[Ice009]

That's Peter Holt's money.

Don't the Spurs have an ownership group? Surely it doesn't all come out of Peter's pocket? How much of a percentage does Holt actually own anyway?

[Duncan2177]

If that's our big move then we're screwed..

Um Yeah

[Josepatches_]

Not a big deal.
He's not what we need

[SpurPadre]

29 year old NBA rookies, any ways. We still got the better end of the deal in that trade with Indy.

[Bruno]

Another source that confirmed the news:
http://www.mundodeportivo.com/201207...322187065.html

It seems that CSKA offered more money to Lorbek and Spurs didn't even make a formal offer for Lorbek.

[mudyez]

29 year old NBA rookies, any ways. We still got the better end of the deal in that trade with Indy.

this

[timvp]

Another source that confirmed the news:
http://www.mundodeportivo.com/201207...322187065.html

It seems that CSKA offered more money to Lorbek and Spurs didn't even make a formal offer for Lorbek.

Wow.

So is this 100% official now? I don't know the accuracy of these publications but these two sources combined make it look like a done deal.

[Bruno]

Wow.

So is this 100% official now? I don't know the accuracy of these publications but these two sources combined make it look like a done deal.

It's not official but it's a done deal.

[timvp]

It's not official but it's a done deal.

Well that sucks, tbh.

The Spurs may not have given him a formal offer but I'm sure they gave him a ballpark figure. It very well could have been the BAE. When Barcelona came back with a big offer, it probably became a no-brainer for him.

Like I said earlier, negotiating with him was probably more difficult and the Spurs couldn't keep him in a holding pattern since his agent is also Diaw's agent. If Diaw is being courted with the MLE, Lorbek would instantly know that the MLE wasn't in play for him.

It was always somewhat of a longshot to land Lorbek in San Antonio but I was looking forward to seeing how well he'd translate to the NBA game. Oh well.










P.S.

I have a looooooooong Lorbek preview written up that includes quotes from a Spurs scout that I was told couldn't be published until July 11 for "compe ive reasons". Guess that's worthless now