Star Russian Hockey Player Walks Away From 77 Million Dollars in the U.S. Due To U.S. Tax

[AuH20]

But the reasons are very revealing according to his mother. The U.S. and specifically New Jersey (9.00% state income tax on annual incomes over 500k) is not income friendly compared to Mother Russia nowadays.

http://prohockeytalk.nbcsports.com/2013/07/12/kovalchuks-mom-time-in-khl-during-lockout-strongly-influenced-decision/


Some will still be surprised that Kovalchuk would leave the NHL with $77 million over 12 years left on his contract, but his mother argued that number is misleading.

“After the lockout, there are a lot of restrictions at all teams,” she said. “They are also underpaid 20% [of their salary]. The League takes it as an escrow that may not be paid back if the NHL does not make profit. And then there’s government tax of 50%. That means on paper you are being paid $10 million a year, but in reality only 3. So the pendulum swung for Russia.”

How much Kovalchuk will make in the KHL is unclear, but there are reports indicating that he could end up making more annually at a taxation rate of 13% in Russia.

Imagine if 50 years ago, you told someone that the U.S. would create a more penalizing wage environment than the former Soviet Union?

[Seraphim]

He'll clear about triple what he did in the US and will be close to home/family.

[devil21]

Grrrrrr

[supermario21]

Russia's got a flat tax of even less than what Rand proposed in his budget I think.

[libertyjam]

Timely: Even the most socialist European countries are more attractive tax-wise than the US:

http://taxprof.typepad.com/taxprof_blog/2013/07/tax-attractiveness.html
July 10, 2013
Tax Attractiveness Index: U.S. Is Ugly Betty (95th of 100 Countries, Right Below Zimbabwe)

Sara Keller (WHU, Otto Beisheim School of Management) & Deborah Schanz (Ludwig-Maximilians-University Munich), Measuring Tax Attractiveness Across Countries:

This paper develops a new tax measure – the Tax Attractiveness Index – reflecting the attractiveness of a country’s tax environment and the tax planning opportunities that are offered. Specifically, the Tax Attractiveness Index covers 16 different components of real-world tax systems, such as the statutory tax rate, the taxation of dividends and capital gains, withholding taxes, the existence of a group taxation regime, loss offset provision, the double tax treaty network, thin capitalization rules, and controlled foreign company (CFC) rules. We develop methods to quantify each tax factor. The Tax Attractiveness Index is constructed for 100 countries over the 2005 to 2009 period. Regional clusters in the index as well as in the application of certain tax rules can be observed. The evaluation of individual countries based on the index corresponds – but is not totally identical – with the OECD’s ‘black’ respectively ‘grey’ list. By comparing the Tax Attractiveness Index with the statutory tax rate, we reveal that even high tax countries offer favorable tax conditions. Hence, the statutory tax rate is not a suitable proxy for a country’s tax climate in any case since countries may set other incentives to attract firms and investments.

http://taxprof.typepad.com/.a/6a00d8341c4eab53ef01901e345588970b-600wi

[HOLLYWOOD]

This is HUGE... tells you what's going on in this country... Amazing the prior evil CCCP Soviet Union has turn into more economic freedom than the Marxist Commie United States.


Someone tell Kovalchuk, it could of been even worse if he played for a California team where he would be paying 13.3% in State Income taxes, and close to 10% in Sales Taxes, on top of double taxation on fuels, and overpriced housing.

This is the tax: "SLAPSHOT HEARD AROUND THE WORLD"

[devil21]

This is HUGE... tells you what's going on in this country... Amazing the prior evil CCCP Soviet Union has turn into more economic freedom than the Marxist Commie United States.


Someone tell Kovalchuk, it could of been even worse if he played for a California team where he would be paying 13.3% in State Income taxes, and close to 10% in Sales Taxes, on top of double taxation on fuels, and overpriced housing.

This is the tax: "SLAPSHOT HEARD AROUND THE WORLD"

The Los Angeles Kings were the other team he could have been traded to but landed in NJ. So he ended up in tax hell regardless of which team got him. My handle is because Im a Devils fan. It sucks watching your franchise player quit because of friggin taxes....

[Anti Federalist]

Imagine if 50 years ago, you told someone that the U.S. would create a more penalizing wage environment than the former Soviet Union?

30 years ago I had a JBS member tell me exactly that, and that personal freedom would be just as restricted.

I laughed.

I am not laughing anymore.

[AuH20]

The Los Angeles Kings were the other team he could have been traded to but landed in NJ. So he ended up in tax hell regardless of which team got him. My handle is because Im a Devils fan. It sucks watching your franchise player quit because of friggin taxes....

Another devil fan here. Kovalchuk also left because the KHL is generally not as physically intense as the NHL and he could slide by without putting his injured back at risk. So between potential health rewards, returning home & escaping Financial Prison USA, it was a no-brainer that he decided to leave for SKA in St. Petersburg. It's interesting that the chairman of SKA is one of the co-owners of the well-known Gunvor Corporation (4th largest oil trader in the world). Those oil moguls have money to literally burn in terms of enticing potential attractions.

http://www.ska.ru/managers/en/


Chairman of Board of Directors, President

Born on November 9, 1952 in Leninakan (now - Gyumri).

Chairman of Board of Directors, President of the SKA Hockey club since May 2011. Chairman of the KHL Board of Directors since July 2012.

In 1976, he graduated from the Mechanical Institute of Leningrad as an electrical mechanical engineer. He started his career as an engineer for a plant near St. Petersburg specializing in building power generators.

In 1982 – 1988, Timchenko worked as a senior engineer at the Foreign Trade Department. In 1988 he became the Vice President of the state-owned oil company “Kirishneftekhimeksport” enterprise. In 1991 – 2001, he worked at managing positions in Russian and international oil trade companies.

In 1997, Timchenko became the co-owner of the Gunvor corporation, the leading independent oil trader. He holds shares in trade, oil and gas, and transport companies. He also takes a great interest in professional and amateur sports: tennis, hockey, yachting; takes an active part in charity. Gennady Nikolayevich Timchenko is the founder of the “Ladoga”, “Neva” and “Klyuch” funds, which support sports projects, particularly kids' and youth hockey, as well as culture and art projects. He is married and has three kids.

[aGameOfThrones]

Selfish.

[brandon]

When talking about figures that big I cant imagine tax rates would be a deciding figure. If I had the choice between making 3 million and 5 million a year id take the job that I would enjoy more.

[Mani]

I cant even make sarcastic comrade comments....it doesnt even sound appropriate when the guy actually LEAVES the US for mother Russia....because it allows a more free tax environment.


But the reasons are very revealing according to his mother. The U.S. and specifically New Jersey (9.00% state income tax on annual incomes over 500k) is not income friendly compared to Mother Russia nowadays.

http://prohockeytalk.nbcsports.com/2013/07/12/kovalchuks-mom-time-in-khl-during-lockout-strongly-influenced-decision/



Imagine if 50 years ago, you told someone that the U.S. would create a more penalizing wage environment than the former Soviet Union?

[Michigan11]

What's even scarier is that the world propoganda machine would make us all believe Russia has a lower tax rate because they aren't as developed. Once developed higher taxes are the norm they say. That's truth.

[Zippyjuan]

Russia does have a flat 13% income tax but it also has a VAT or Value Added Tax which is their biggest source of revenue for the government (for those not familiar with the term it is basically a national sales tax). The VAT on imports is 36% and on other purchases 18%. http://en.wikipedia.org/wiki/Tax_Code_of_Russia

He will still be paid $250,000 a year from the Devils until 2024-25 so money is not going to be a problem for him. http://www.nytimes.com/2013/07/12/sports/hockey/devils-kovalchuk-retires-from-nhl-to-return-home-to-russia.html?_r=0


In a statement released by the Devils and General Manager Lou Lamoriello, Kovalchuk said that he had settled on his decision to return to Russia during the lockout, while playing 36 games for SKA St. Petersburg of the K.H.L.

“This decision was something I have thought about for a long time going back to the lockout and spending the year in Russia,” Kovalchuk said. “Though I decided to return this past season, Lou was aware of my desire to go back home and have my family there with me. The most difficult thing for me is to leave the New Jersey Devils, a great organization that I have a lot of respect for, and our fans that have been great to me.”

In July 2010, the Devils tried to sign him to a 17-year, $102 million deal, the biggest commitment the Devils have made to a player. But the N.H.L. ruled that the deal circumvented league regulations. The Devils were fined $3 million, a third-round draft choice in 2011 and a first-round pick, which they will forfeit in next year’s draft. The Devils then signed him to the 15-year deal. Long-term contracts like Kovalchuk’s were banned by the league after the most recent lockout. Now the maximum contract length is eight years.

“After many conversations with Ilya over the past year on his desire to retire from the National Hockey League, Ilya’s decision became official today,” Lamoriello said in the statement. “On behalf of the entire organization, I wish Ilya and his family all the best in their future endeavors.”

For the Devils, there is a financial bright side to Kovalchuk’s departure. Now that his contract is void, the Devils must pay him only $250,000 a year until 2024-25, the last year of the deal.


And he will likely be making even more money in Russia than his current contract here in the US which would have paid him an average of $6 million a year ($102 million over 17 years).
http://sports.yahoo.com/blogs/nhl-puck-daddy/ilya-kovalchuk-join-ska-could-earn-20-million-210237775.html


Lysenkov reports that Kovalchuk will be joining SKA St. Petersburg of the KHL, the team for which he played during the NHL lockout. There’s where he will “become the most-paid player in the world,” according to SovSport.

How much? He speculates that if it was “a $15-20 million per year (at the taxation in 13%)” it would not be a surprise. (No word if that's on the KHL cap or some of it off the books.)

On top of that, Puck Daddy’s Dmitry Chesnokov believes SKA could front-load the contract and pay Kovalchuk an enormous sum of money up front.

Keep in mind Alex Radulov – hardly the superstar Kovalchuk is – was making over $9 million per season with CSKA in the KHL.

Know this about Kovalchuk: His close friend is Roman Rotenberg, vice president of marketing at SKA St. Petersburg and the son of Boris Rotenberg, a friend of Vladamir Putin and a billionaire. The Rotenberg family recently bought Jokerit and Hartwall Arena in Finland.

So yeah, Kovy's getting paid.


The US Tax rate was probably not a major factor in his decision. If it was a factor at all.

[AuH20]

When talking about figures that big I cant imagine tax rates would be a deciding figure. If I had the choice between making 3 million and 5 million a year id take the job that I would enjoy more.

How about 5.5 million versus 17 million? The former is what he could have made in the U.S after taxes and the latter is what he is rumored to be getting in Russia after Taxes.

[Zippyjuan]

Triple salary, close to familiy, no strikes by the teams. Friend owns the team. Hmm. Do you think US taxes were the turning point in the decision?

[juleswin]

He will still be paid $250,000 a year from the Devils until 2024-25 so money is not going to be a problem for him. http://www.nytimes.com/2013/07/12/sports/hockey/devils-kovalchuk-retires-from-nhl-to-return-home-to-russia.html?_r=0


Not that it really matters but is that 250k pre or after tax earning?

[Christian Liberty]

Russia's got a flat tax of even less than what Rand proposed in his budget I think.

Didn't Rand propose the first 50K to not be taxed at all, though?

[Michigan11]

Triple salary, close to familiy, no strikes by the teams. Friend owns the team. Hmm. Do you think US taxes were the turning point in the decision?

Well I think our perspectives have all been twisted when we need to defend how "America's" tax rate is better than any other country in this world.

To me America, the name is supposed to mean whole freedom, nothing but. Not what we have today. Anytime we have to defend something going on in this country in comparison to any other country, means we moved our own perspective to the media/governments' perspective that they want us to have.

[AuH20]

Triple salary, close to familiy, no strikes by the teams. Friend owns the team. Hmm. Do you think US taxes were the turning point in the decision?

It was a major factor from what his mother stated. If you add in the state/federal (9% NJ + 39.6% for Federal) together with the NHLPA escrow hold (20%), roughly 66-68 % of his salary was being diverted. I think it shocked him when he was playing in the KHL for so much money (he had rumored to have made 15 million there in his brief time in the KHL) and then returned to the US & experienced the comparative letdown. I think he thought to himself, why am I risking my health (he had suffered 2 serious injuries in the last 2 years) in a rougher league with more games and then give half to some invisible entities?

[Zippyjuan]

Not that it really matters but is that 250k pre or after tax earning?
Probably pre- tax. But on top of the $20 million a year he could be making in Russia (before taxes). Or stay in the US and make $3 million before taxes.

If he was making $20 million here and Russia offered him the $3 million he likely would stay here.

[Henry Rogue]

This is HUGE... tells you what's going on in this country... Amazing the prior evil CCCP Soviet Union has turn into more economic freedom than the Marxist Commie United States.


Someone tell Kovalchuk, it could of been even worse if he played for a California team where he would be paying 13.3% in State Income taxes, and close to 10% in Sales Taxes, on top of double taxation on fuels, and overpriced housing.

This is the tax: "SLAPSHOT HEARD AROUND THE WORLD"
It's a "Miracle".^

http://www.youtube.com/watch?feature=player_detailpage&v=qYscemhnf88

[HOLLYWOOD]

The Los Angeles Kings were the other team he could have been traded to but landed in NJ. So he ended up in tax hell regardless of which team got him. My handle is because Im a Devils fan. It sucks watching your franchise player quit because of friggin taxes....


Another devil fan here. http://www.ska.ru/managers/en/

Meet my Best Friend and OUR favorite team... ;)

http://i533.photobucket.com/albums/ee332/McLieberman/9c07a854-7d02-48cb-aa37-42f8850c2737_zpsc5f03068.jpg

[Nobexliberty]

Meet my Best Freind and OUR favorite team... ;)

http://i533.photobucket.com/albums/ee332/McLieberman/9c07a854-7d02-48cb-aa37-42f8850c2737_zpsc5f03068.jpg
GO MINNESOTA WILD!!!! Devils belong in hell.

[HOLLYWOOD]

The Los Angeles Kings were the other team he could have been traded to but landed in NJ. So he ended up in tax hell regardless of which team got him. My handle is because Im a Devils fan. It sucks watching your franchise player quit because of friggin taxes....


GO MINNESOTA WILD!!!! Devils belong in hell.Minnesota State Income Tax rate is not much different than NJ @: 7.85%. When the NHL expands the league out to 32 teams, I hope those top 2 spots are Las Vegas and Seattle. Both state have ZERO state Income tax... that should be a drawn for big salary stars. Let's see if the theory works in the future.

BTW, you can keep Parise. The player movement agreement between the KHL(Russia) and the NHL(North America) expired July 6th, causing these players the opprotunity to move. If I were the Devils, I would sue Gary Bettman and the NHL for not renewing the agreement, and hold them responsible for the entire contract, because that huge contract was signed under the agreement of the NHL-KHL player restriction agreement.

It's a travesty to the Devils who lost rookie forward Niclas Bergfors (http://sports.espn.go.com/nhl/players/profile?playerId=3268), now Chicago starting defenseman Johnny Oduya (http://sports.espn.go.com/nhl/players/profile?playerId=3469), prospect Patrice Cormier and a 1st round pick in the 2010 draft, for Kovalchuk.

Commissioner Bettman's BS penalizing because of "circumventing NHL contract rules in Kovalchuk's contract": was a Devils fine of $3 million, and loss of their #1 & #3 round draft picks.

The Final Results: Devils lose: 3 - First round picks, 1 - second round pick, 1- third round pick, a star starting defenseman who just won the Stanley Cup with the Chicago Blackhawks, AND the lost of the top 10 star in the entire National Hockey League, Ilya Kovalchuk they traded all that away. Now add former Devils star captain, Zach Parise going to the Minnesota Weird last summer.


Those losses in numbers/players over the past 3 years will devastate any team... and will take a very long time to recover.

[Fredom101]

But the reasons are very revealing according to his mother. The U.S. and specifically New Jersey (9.00% state income tax on annual incomes over 500k) is not income friendly compared to Mother Russia nowadays.

http://prohockeytalk.nbcsports.com/2013/07/12/kovalchuks-mom-time-in-khl-during-lockout-strongly-influenced-decision/




Imagine if 50 years ago, you told someone that the U.S. would create a more penalizing wage environment than the former Soviet Union?

Russia has had this low 13% flat income tax for well over 10 years now. It's amazing they haven't raised it. Even as a full blown ancap, I have to admit 13% flat sounds soooo much more reasonable than the total insanity we have in the US.

[Zippyjuan]

Russia has had this low 13% flat income tax for well over 10 years now. It's amazing they haven't raised it. Even as a full blown ancap, I have to admit 13% flat sounds soooo much more reasonable than the total insanity we have in the US.

They also have an 18% VAT (national sales tax) to generate revenues for them as well (imports are hit with a 36% VAT) so their taxes really aren't that low if you include that.

[HOLLYWOOD]

They also have an 18% VAT (national sales tax) to generate revenues for them as well (imports are hit with a 36% VAT) so their taxes really aren't that low if you include that.

Cost of Living...

http://www.numbeo.com/cost-of-living/gmaps.jsp

St. Petersburg Russia has a much Lower cost of living. Slamdunk almost every catagory compared to New York Metro (Newark) where Kovalchuk left.

http://www.numbeo.com/cost-of-living/compare_cities.jsp?country1=Russia&country2=United+States&city1=Saint+Petersburg&city2=Newark%2C+NJ

The one that counts the most:


Salaries And Financing

[Edit (http://www.numbeo.com/common/form.jsp?city=Saint+Petersburg&country=Russia&returnUrl=%2Fcost-of-living%2Fcompare_cities.jsp%3Fcountry1%3DRussia%26 country2%3DUnited%2BStates%26city1%3DSaint%2BPeter sburg%26city2%3DNewark%252C%2BNJ&current=8&section=true)]
[Edit (http://www.numbeo.com/common/form.jsp?city=Newark%2C+NJ&country=United+States&returnUrl=%2Fcost-of-living%2Fcompare_cities.jsp%3Fcountry1%3DRussia%26 country2%3DUnited%2BStates%26city1%3DSaint%2BPeter sburg%26city2%3DNewark%252C%2BNJ&current=8&section=true)]




Median Monthly Disposable Salary (After Tax)

30,000.00 руб
119,392.67 руб
+297.98 %

[Nobexliberty]

Minnesota State Income Tax rate is not much different than NJ @: 7.85%. When the NHL expands the league out to 32 teams, I hope those top 2 spots are Las Vegas and Seattle. Both state have ZERO state Income tax... that should be a drawn for big salary stars. Let's see if the theory works in the future.

BTW, you can keep Parise. The player movement agreement between the KHL(Russia) and the NHL(North America) expired July 6th, causing these players the opprotunity to move. If I were the Devils, I would sue Gary Bettman and the NHL for not renewing the agreement, and hold them responsible for the entire contract, because that huge contract was signed under the agreement of the NHL-KHL player restriction agreement.

It's a travesty to the Devils who lost rookie forward Niclas Bergfors (http://sports.espn.go.com/nhl/players/profile?playerId=3268), now Chicago starting defenseman Johnny Oduya (http://sports.espn.go.com/nhl/players/profile?playerId=3469), prospect Patrice Cormier and a 1st round pick in the 2010 draft, for Kovalchuk.

Commissioner Bettman's BS penalizing because of "circumventing NHL contract rules in Kovalchuk's contract": was a Devils fine of $3 million, and loss of their #1 & #3 round draft picks.

The Final Results: Devils lose: 3 - First round picks, 1 - second round pick, 1- third round pick, a star starting defenseman who just won the Stanley Cup with the Chicago Blackhawks, AND the lost of the top 10 star in the entire National Hockey League, Ilya Kovalchuk they traded all that away. Now add former Devils star captain, Zach Parise going to the Minnesota Weird last summer.


Those losses in numbers/players over the past 3 years will devastate any team... and will take a very long time to recover. Last thing the NHL is to put an NHL team in a non-tradional market. They are better of moving teams to central Canada and the northwestern US. Because no matter what the taxes are, if the southern and southwestern teams start losing alot more then winning then most of the stadiums are empty while northern teams still have hardcore fans. The Devils may have a large fan base but their losses in players will put them down severly in the coming decade. Minnesota and Chicago have alot of future and will dominate the nhl in 2015- 2025. Many teams will be forced to close down leading to many of the less succesful teams(with exeption of the original 6) being wiped off the league while being replaced by none.

[juleswin]

Dunno if anyone has mentioned this but in America, the agent takes 10% of the players salary. So take away 10% from pre tax income and see how much these players are scammed out of their earnings. No wonder why they are always filing for bankruptcy.

[jdmyprez_deo_vindice]

Maybe he just really left because he could not face the shame of playing in a country where the Flyers are taken seriously.

[Nobexliberty]

Maybe he just really left because he could not face the shame of playing in a country where the Flyers are taken seriously. Funny and true, the Russians will never forget 1976.

[daviddee]

...

[eduardo89]

Russia does have a flat 13% income tax but it also has a VAT or Value Added Tax which is their biggest source of revenue for the government (for those not familiar with the term it is basically a national sales tax). The VAT on imports is 36% and on other purchases 18%. http://en.wikipedia.org/wiki/Tax_Code_of_Russia

KHL athletes do not pay any income tax in Russia. All their taxes are covered by their employer. The VAT is 18%, but overall Kovalchuk will be making way, way more in the KHL than in the US.

His income tax is going down from 39.6% (federal) + 6.2% (FICA) + 0.9% (Medicare surcharge) + 8.97% (NJ income tax) = 55.62% (obviously he'd pay less, but even half is still close to 30%!)

Plus add in the 7% state sales tax in NJ, property taxes, etc....Then add in the NHL's 20% escrow withholding as well as his agent's 5-10% cut...

He'll also probably make $10+ million in Russia...so he's much better off there.


He will still be paid $250,000 a year from the Devils until 2024-25 so money is not going to be a problem for him. http://www.nytimes.com/2013/07/12/sports/hockey/devils-kovalchuk-retires-from-nhl-to-return-home-to-russia.html?_r=0

That article is wrong. The $250,000 won't be paid to him, it will count towards the Devil's cap hit. The new CBA had a 'cap recapture' provision in it.

[HOLLYWOOD]

Last thing the NHL is to put an NHL team in a non-tradional market. They are better of moving teams to central Canada and the northwestern US. Because no matter what the taxes are, if the southern and southwestern teams start losing alot more then winning then most of the stadiums are empty while northern teams still have hardcore fans. The Devils may have a large fan base but their losses in players will put them down severly in the coming decade. Minnesota and Chicago have alot of future and will dominate the nhl in 2015- 2025. Many teams will be forced to close down leading to many of the less succesful teams(with exeption of the original 6) being wiped off the league while being replaced by none.

The West conference really needs to be fixed with the extensive travel hardship on teams... No secret Seattle wants a team and they do have billionaires willing to invest in bringing teams in. Microsoft's Steve Balmer and company of investors are looking for both a NHL & NBA team and to show how serious they are on spending to get teams, the group offered $650 million to pull the Sacramento Kings up to Seattle, a ridiculous amount of money valuation for a consistant last place team, but valued close to what the Miami Heat franchise... unfortunately, league owners voted down the move this spring.

Las Vegas, even though every professional sports league has shy away from party city, they are looking to draw both an NBA and NHL, but it's always been the chicken/egg thingy... they do have the money, lot's of money spend, and apparently are going to break ground on a new state of the art $400 million 20,000 arena right off the strip in 2014. You know the arena will have at least 50% in purchased season packages and suites by the very resorts/casinos, used for customers as comp tickets. I don't think any Canadian expansion city can match revenues/costs in building a new Arena or initial ticket sales.

Nothing like "Cooling-Off" to a hockey game in the desert heat... I can already see the marketing points... especially with all the international visitors/vacationers. It will be interesting to see what transpires over the next couple years.

Las Vegas Plans On NHL Ready Arena By 2016-17 Season (http://kuklaskorner.com/hockey/comments/las-vegas-plans-on-nhl-ready-arena-by-2016-17-season)
http://kuklaskorner.com/hockey/comments/las-vegas-plans-on-nhl-ready-arena-by-2016-17-season?utm_source=dlvr.it&utm_medium=twitter

KC-based firm Populous to design new arena in Las Vegas (http://www.kansascity.com/2013/06/18/4299737/populous-to-design-new-las-vegas.html)
http://www.kansascity.com/2013/06/18/4299737/populous-to-design-new-las-vegas.html



Read more here: http://www.kansascity.com/2013/06/18/4299737/populous-to-design-new-las-http://www.kansascity.com/2013/06/18/4299737/populous-to-design-new-las-vegas.htmlhttp://www.kansascity.com/2013/06/18/4299737/populous-to-design-new-las-vegas.htmlveghttp://www.kansascity.com/2013/06/18/4299737/populous-to-design-new-las-vegas.html

http://southwest.construction.com/southwest_construction_news/2013/0425-mgm-plans-major-facelift-for-monte-carlo-new-yorknew-york-casinos.asp

Meanwhile, MGM and Los Angeles-based sports and entertainment promoter AEG are planning a 20,000-seat freestanding indoor arena accessible by the new promenade development. The arena, estimated to cost $400 million by McGraw-Hill Construction Dodge, will be underwritten with equity contributions from each partner as well as third-party private financing.

http://www.sportsbusinessdaily.com/content/Image/05-19-2010/Vegas-Arena.gif



Potential National Hockey League expansion
http://en.wikipedia.org/wiki/Potential_National_Hockey_League_expansion

[VoluntaryAmerican]

Thanks a lot Feds!

Add help ruin the NHL to your list of things you've fucked up.

[VoluntaryAmerican]

Maybe he just really left because he could not face the shame of playing in a country where the Flyers are taken seriously.

:mad: *resists urge to hip check*

[jdmyprez_deo_vindice]

:mad: *resists urge to hip check*

lol I really know nothing about hockey at all and just posted that to poke fun at a moderator who is a Flyers fanatic.