Pittsburgh Hockey Insider has no direct affiliation to the Pittsburgh Penguins, NHL or NHLPA
Michael Pezzetta shares the worst part of playing in Montreal
Michael Pezzetta Breaks Down Salary Deductions for NHL Players in High-Tax Cities
The issue of salary deductions for NHL players in various cities has become a hot topic over the past few years. Michael Pezzetta, a fourth-line player for the Montreal Canadiens, recently shed light on the significant portion of his salary that gets taken away in taxes and other fees. Even with the substantial increase in pay from the AHL to the NHL, the amount lost is staggering.
In an interview with the Cam & Strick Podcast, Pezzetta discussed his financial situation over the past two seasons, during which he played over 60 games each year and earned the league minimum of $750,000. The 26-year-old forward described the deductions as "crazy," detailing the various taxes and fees that reduce his take-home pay.
"Yeah, I know, it's crazy. We're like 54 percent tax, then you lose four to your agent, escrow, too,"
Pezzetta explained.Pezzetta mentioned that escrow, a percentage withheld from every player's contract, will benefit players this year instead of NHL owners. The distribution of escrow funds depends on the league's overall revenue and profits.
"But, I remember my first year, my first year making whenever I got called up to the NHL, seven [hundred thousand], seven fifty or whatever... But then you get that first pay cheque and you're like, 'oh my God, where's all the money?' like 54 percent tax, escrow was at like 14 percent, and you're just like, where's all the money going?"
Barry Trotz, General Manager of the Nashville Predators, confirmed the widely held belief that teams in U.S. states with no income tax have an advantage. In an interview with TSN, Trotz highlighted the financial benefits for players in such states.
"I think it is an advantage because your dollar goes a little bit farther. There's no question it is a little bit of an advantage,"
Trotz said.Trotz pointed out that the tax advantage is more significant for mid- to lower-tier players rather than star players who command larger salaries.
"It's more for the guys that are sort of in the second and third tier in your group,"
he explained.Pezzetta's insights and Trotz's confirmation highlight the financial disparities faced by players in different regions. While top-tier players still earn substantial incomes, those in the lower salary brackets feel the pinch of high taxes and additional fees. This reality underscores the financial considerations that players must weigh when choosing where to play.
| POLL | ||
JUILLET 24 | 34 ANSWERS Michael Pezzetta shares the worst part of playing in Montreal Are you surprised to hear what is lost in taxes and other things as a member of the Montreal Canadiens? | ||
| Yes | 8 | 23.5 % |
| No | 23 | 67.6 % |
| Not sure | 3 | 8.8 % |
| List of polls | ||