Media Sean O'Connell retires after winning PFL 1 million Dollars

XxWolfXx said:

https://www.google.com/amp/s/www.sp...hts-1-million-wins-immediately-retires-189114
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Good 4 him
 
Bend NvR Break said:
20% of $1 mil is 200K. Managers get paid from gross income not net income. (Pre tax not post) When you make money like that you pay uncle sam every year. You don't have your employer take your taxes out. Guess why? They're not employees. They're independent contractors paid in full and it's their responsibility to pay their own taxes.

Do you consumer education bro?
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Wouldn't this be tax education and not consumer education?
 
justbetter said:
People forget that it took 3 fights to win the 1 million across 2 different events. So he is paying for 2 training camps, %20, 3 x management and camp fees, %30. Then after he is taxed half of the remainder.... he only got $250k for THREE fights. Fucking chump change.
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You have no clue what his expenses are or how much tax he's paying.
 
PFL is having a womans 155 tournament next season. Megan Anderson may want to look into that. She's not getting 1m from UFC.
 
Bend NvR Break said:
20% of $1 mil is 200K. Managers get paid from gross income not net income. (Pre tax not post) When you make money like that you pay uncle sam every year. You don't have your employer take your taxes out. Guess why? They're not employees. They're independent contractors paid in full and it's their responsibility to pay their own taxes.

Do you consumer education bro?
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You stated he would be left with $300K after taxes (at 50%) and managerial fees. He gets taxed on the entire $1 million, then he takes his deductions such as managerial fees, training fees, and whatever else he can deduct. At the end of the day, no matter how you slice it, he ends up with far more than $300K.

Lets start with 1 million. Lets take away the 20% managerial fees (of which we don't know what his manager/fees are) and call it $800K. With no other deductions and at the highest tax bracket he pays 37% to the Feds. That leaves him with $504K.
 
flowoftruth said:
Why do i feel like he's gonna blow it all and be back fighting in a couple of months
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Said he wants to use his degree in psychology. Not sure what he's going to do but I hope he's smart enough to not have to fight unless he wants to.
 
O'Connell was a good average every mans type of fighter. He was never great at anything but he was in some good scraps and he's a big guy thus always a little dangerous. I've seen him in numerous fights but particularly remember his fight with Bosse being pretty dang good. He lucked into a pretty good situation and made some bank before retiring so good for him. I honestly thought Rama was going to wreck him after that Spohn fight. Didn't end up seeing the Vinny fight though.
 
JosephTessaro said:
Wouldn't this be tax education and not consumer education?
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No class in high school call tax education. You learn about taxes junior year in high school in the required (in Illinois anyway) to graduate consumer ed.
JosephTessaro said:
You stated he would be left with $300K after taxes (at 50%) and managerial fees. He gets taxed on the entire $1 million, then he takes his deductions such as managerial fees, training fees, and whatever else he can deduct. At the end of the day, no matter how you slice it, he ends up with far more than $300K.

Lets start with 1 million. Lets take away the 20% managerial fees (of which we don't know what his manager/fees are) and call it $800K. With no other deductions and at the highest tax bracket he pays 37% to the Feds. That leaves him with $504K.
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Stare income tax needs to be included unless he lives in a couple states that don't have it
 
He might've wanted to wait for the check to clear before retiring again.. also has Renato Laranja commented on Vinny's performance yet?
 
If he starts a business, there ya go. Good luck. If not, see ya in 2 years, bro.

If the business folds, see ya then, as well.
 
Bend NvR Break said:
1 million after taxes is about 500K without working tax magic.

Manager gets 20% (includes taking care of all training expenses). So now he has 300K left.

That's a solid nest egg if he has other ideas to make money or goes back to school. But he's definitely not set for the rest of his life.
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Management would be before tax imo.
 
Odysseus said:
Happy for him. He paid his dues and ending up being in the right place at the right time to make some real money. I really hope the PFL stays around- I like their production and the events feel more like a legitimate sporting event and less of a spectacle like the UFC is shaping out to be.

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Hahaha...Dana was like "Oooook" in the 2nd gif. O'Connell is a trip. Happy for him to retire on such a high note. He pretty much made Gus & Jon's combined purse minus PPVs. Watching the fight was kind of frustrating though. We all knew Vinny was going to shoot. Sean would've finished it earlier if he had filled the room w uppercuts. At the end of the day he won though so...
 
Nabs said:
We all knew Vinny was going to shoot. Sean would've finished it earlier if he had filled the room w uppercuts.
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Or threw a few knees to the face.
 
the pay can't be that bad for normal fights as there is no way Jake Shields believed he could win the whole thing
 
PFL will go out of business quicker than i thought if they're just paying journeyman fighters $1 million.

He got the money while it was still there.
Guaranteed the next event doesn't pay as much.
 
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