Question on contracts

[playmakers]

This is for you tax experts. Say Roy Williams gets mad at the team and does a Albert Haynesworth. The team cuts Williams and wants there signing bonus back. The signing bonus was 10 million dollars and was paid to him on the day he signed. After taxes Williams recieved about 5.5 million dollars. Does Wiliams have to pay 10 million back or 5.5? If he had to pay 10 million back wouldnt he really be paying an extra 4.5 million he never seen? Does anyone know how that works.


Plus, whats the tax bracket for NFL players. I heard it was 41 percent but not sure. If Romo makes 10 million this year he really will get 5.9 after taxes for example.

 

[theogt]

Assuming it's all in one year, Williams would just net out his taxes and not pay any taxes (or only a small amount) for the year. If for some reason the team had a legal argument for returning the money, he would be required to repay the $10 million.

The highest federal income tax bracket is 35%.

 

[playmakers]

Where does the other 13 to 15 percent go then. I hear if a player makes 2 mil he really only sees 1-1.1 million. I know about 2 percent goes to the agent.