30 K Rings for The Black Hawks. What will the PK Say.

Black Hawks rings valued at 30 K each. Wait till Peter King finds out about this. He will be apoplectic.

The Black Hawks staff will have to sell their houses to pay the tax bill on these rings.

http://articles.chicagotribune.com/2010-09-30/sports/ct-spt-0930-rings-blackhawks-chicago-20100929_1_blackhawks-stanley-cup-stan-bowman-ring

 

Forget what Peter King says. Bill Wirtz is banging on his coffin, trying to get out to stop Rocky blowing so much dough.

 

I've wondered about stuff like that. If you're a trainer, making high five to low six figures, would you have to pay taxes on the $30K ring? I'm guessing you would.

 

Gotta say ... this is most cool ... the closest I've ever come to these sorts of baubles is shaking hands with guys who've won them ... I'm not impressed by much, but championship rings always pop my eyes ... and they are mighty hefty, too ...

 

Yes - you get a big fat 1099. I have a couple. Most teams will value based on actual cost rather than appraised value of individual ring which typically is 5- 10 times higher. . The Black Hawks must have wanted to make a big splash but now that it is in print it will be hard to "walk it back' with the IRS.

 

I know of a SID who got a national championship ring that was "issued" to the Athletic Department and then given the ring as a gift.

 

Do the rings count against the cap?

 

Not sure if NHL pays standard rate for rings, like NFL. League pays $5k each for 125 rings, regardless of appraised value (Competition to say that Company X did rings means that the companies will swallow the loss). For example, Saints players & staff both got same rings, tax bill was based on $5k, not appraised value of approximately $11k. So I would guess it would be what the Hawks actually paid per ring to the maker.

 

Don't a lot of teams give the big rings to the players and much smaller ones to the staff?

Friend of a friend worked for a championship team. He had a ring that was nice, but not one of those monstrosities that the players receive, and in many cases, rarely wear because they're so big.

 

The "secondary" rings usually have fewer actual jewels.

 

I've always wondered about that - does everybody associated with the team get rings? Are they all the same ring, or do staff like secretaries and janitors, or even scouts and trainers and the like, get smaller rings? Does the staff get rings with real diamonds and gold and stuff, or just a look-allike? And what about in something like the MLB - do the people associated with the minor league teams get rings when the parent club wins?

 

During my sophomore year of high school, the football team won the 3A state championship. Cheerleaders had the opportunity to buy rings. This lead to members of the marching band complaining that they were just as worthy of championship rings as the cheerleaders.