Wonder if Feld had insurance on their $1,000,000 ....

Anonymous (not verified)
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Anonymous (not verified)
Edited Date/Time 1/25/2012 10:22am
Wondering...
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Drew580
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Drew580 10/15/2011 10:47pm
10/15/2011 10:47pm
I really don't think they were expecting someone to actually win it lol
Crush
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Crush 10/15/2011 10:48pm
10/15/2011 10:48pm
JS7 and Crtwotwo are twittering that they pay in installments/!?!?!
fader418
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fader418 10/15/2011 10:48pm
10/15/2011 10:48pm
Didn't Monster put up the money?
motoxxx599 10/15/2011 10:48pm
10/15/2011 10:48pm
They did not. 100% did not. They waited too long to get it insured and no one would do it. It comes out of their pocket.

The Shop

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motoxxx599 10/15/2011 10:52pm
10/15/2011 10:52pm
He doesnt get a million today... He either gets $500,000 lump sum or 50g for 20 yrs
mxpunk
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mxpunk 10/15/2011 11:04pm
10/15/2011 11:04pm
motoxxx599 wrote:
He doesnt get a million today... He either gets $500,000 lump sum or 50g for 20 yrs
id take the latter.

50K is more then enough to live on in a "worse" case scenario.

lol
akmx17
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akmx17 10/15/2011 11:07pm
10/15/2011 11:07pm
motoxxx599 wrote:
He doesnt get a million today... He either gets $500,000 lump sum or 50g for 20 yrs
mxpunk wrote:
id take the latter.

50K is more then enough to live on in a "worse" case scenario.

lol
In the off chance the company folds, who pays him?
mx510
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mx510 10/15/2011 11:07pm
10/15/2011 11:07pm
What a bunch of S. They should hand out the million like they were advertising the race. A million to the winer, pay up suckas.
RexBackman 10/15/2011 11:11pm
10/15/2011 11:11pm
Kudos though to Monster and Feld for the event.

Riders had a good payday.

Good PR to the sport I would think, too.

Enjoyed it - Emig and RC are good. Loved RC's comment to Ralph - "I think you look like Johnny Cash...". Fun...
neverwasfastenuf 10/15/2011 11:15pm
10/15/2011 11:15pm
mx510 wrote:
What a bunch of S. They should hand out the million like they were advertising the race. A million to the winer, pay up suckas.
I bet the racers were aware of the payout provisions in their entry form or release form. The only people fooled were the public.
neverwasfastenuf 10/15/2011 11:16pm
10/15/2011 11:16pm
Crush wrote:
JS7 and Crtwotwo are twittering that they pay in installments/!?!?!
So that's why they didn't race I guess.
mx510
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mx510 10/15/2011 11:18pm
10/15/2011 11:18pm
mx510 wrote:
What a bunch of S. They should hand out the million like they were advertising the race. A million to the winer, pay up suckas.
neverwasfastenuf wrote:
I bet the racers were aware of the payout provisions in their entry form or release form. The only people fooled were the public.
You are probably right, but I think thats lame.
Bruce372
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Bruce372 10/15/2011 11:19pm
10/15/2011 11:19pm
get a grip people, $1M isnt a lot of money to a big corporation for marketing purposes.
iudi2006 10/15/2011 11:22pm
10/15/2011 11:22pm
Bruce372 wrote:
get a grip people, $1M isnt a lot of money to a big corporation for marketing purposes.
They spent way more than $1M for that event. They probably still made a profit off it since the ticket sales for 2012 MEC start tomorrow.
Bruce372
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Bruce372 10/15/2011 11:29pm
10/15/2011 11:29pm
Bruce372 wrote:
get a grip people, $1M isnt a lot of money to a big corporation for marketing purposes.
iudi2006 wrote:
They spent way more than $1M for that event. They probably still made a profit off it since the ticket sales for 2012 MEC start tomorrow.
exactly, $1M is peanuts when rolled into their whole marketing budget.
MOTODAD422
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MOTODAD422 10/15/2011 11:42pm
10/15/2011 11:42pm
Does anybody know the payback structure from second to 20th.
GuyB
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GuyB 10/16/2011 12:19am
10/16/2011 12:19am
Ryan said afterwards that he was going to take the $50K/year over 20 years.
GuyB
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GuyB 10/16/2011 12:20am
10/16/2011 12:20am
iudi2006 wrote:
They spent way more than $1M for that event. They probably still made a profit off it since the ticket sales for 2012 MEC start tomorrow.
If you were here, you could have bought tickets for next year's race for 50% off.

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neverwasfastenuf 10/16/2011 12:25am
10/16/2011 12:25am
iudi2006 wrote:
They spent way more than $1M for that event. They probably still made a profit off it since the ticket sales for 2012 MEC start tomorrow.
GuyB wrote:
If you were here, you could have bought tickets for next year's race for 50% off.
That's a deal.
burnside
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burnside 10/16/2011 3:39am
10/16/2011 3:39am Edited Date/Time 10/16/2011 3:40am
This 500k figure is to do with tax though right? Hardly Monsters fault RV can't bank the full million, they would still have to cough it up.

I heard its the same when you win the lottery in the States . . and if you go the instalment route over years, you end up paying less tax on your winnings. Apparently there are even company's (or people) that profit from this too. So say, they would pay $600k to RV immediately, then they'd receive his monthly instalments for 20 years, that over time (at a better tax rate) could work out to like $700k. (I totally made these figures up obviously). ha.

Millionaires like Reed and Stewart would know more about this though! haha.
steedmills 10/16/2011 4:22am
10/16/2011 4:22am
inflation over 20 years, loss of interest, I don't know, who cares it's not my money
LtColMXUSM131 10/16/2011 4:33am
10/16/2011 4:33am
Villo is the typical silver spoon millionaire that deserves the Buffet tax.....
NOT
Premixed
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Premixed 10/16/2011 5:04am
10/16/2011 5:04am
if its 1 million, and RV chose 50k for 20 years, that means Monster Energy could stick the 1 million in a good CD, or money marketing account, and just pay Poto the interest. 50k is only 5% of 1 million dollars.

so you see, in reality, rather than paying poto 1 million, they actually incur no cost, and technically will make money on it.

THAT is why companies like Monster are as rich as they are. They're run by thinking men.
adamdf
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adamdf 10/16/2011 5:09am
10/16/2011 5:09am
Premixed wrote:
if its 1 million, and RV chose 50k for 20 years, that means Monster Energy could stick the 1 million in a good CD, or money...
if its 1 million, and RV chose 50k for 20 years, that means Monster Energy could stick the 1 million in a good CD, or money marketing account, and just pay Poto the interest. 50k is only 5% of 1 million dollars.

so you see, in reality, rather than paying poto 1 million, they actually incur no cost, and technically will make money on it.

THAT is why companies like Monster are as rich as they are. They're run by thinking men.
well....now that you put it like that! very interesting
steedmills 10/16/2011 5:11am
10/16/2011 5:11am
Premixed wrote:
if its 1 million, and RV chose 50k for 20 years, that means Monster Energy could stick the 1 million in a good CD, or money...
if its 1 million, and RV chose 50k for 20 years, that means Monster Energy could stick the 1 million in a good CD, or money marketing account, and just pay Poto the interest. 50k is only 5% of 1 million dollars.

so you see, in reality, rather than paying poto 1 million, they actually incur no cost, and technically will make money on it.

THAT is why companies like Monster are as rich as they are. They're run by thinking men.
x2
machine
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machine 10/16/2011 6:29am
10/16/2011 6:29am
GuyB wrote:
Ryan said afterwards that he was going to take the $50K/year over 20 years.
That's a great retirement income especially for these young guys that may not manage money well for the future.
RaceFace
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RaceFace 10/16/2011 6:46am
10/16/2011 6:46am Edited Date/Time 10/16/2011 6:46am
I think they knew that IF anyone was abe to win it, it would be their guy RV who really kicked out the jambs for them in every way possible for the year. Basically turns into a little extra bonus for him on his contract. I do think it is B.S. though to have that glass case full of Monopoly money sitting there and then paying with the lump sum or annuity crap. Still, this does make the U.S. Open's $100grrr prize seem like chump change.
Hoov
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Hoov 10/16/2011 6:53am
10/16/2011 6:53am
I'm not sure, but wouldn't the million be considered "Wages" and thus taxed accordingly. I mean, he did NOT win a lottery or gambling on the craps tables. No matter WHAT tax bracket you are in, I don't think anyone pays 50% income tax.
ATKpilot99
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ATKpilot99 10/16/2011 6:54am
10/16/2011 6:54am
Hoov wrote:
I'm not sure, but wouldn't the million be considered "Wages" and thus taxed accordingly. I mean, he did NOT win a lottery or gambling on the...
I'm not sure, but wouldn't the million be considered "Wages" and thus taxed accordingly. I mean, he did NOT win a lottery or gambling on the craps tables. No matter WHAT tax bracket you are in, I don't think anyone pays 50% income tax.
It's prize money , not a contracted agreed upon wage.
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Hoov 10/16/2011 7:02am
10/16/2011 7:02am
Hoov wrote:
I'm not sure, but wouldn't the million be considered "Wages" and thus taxed accordingly. I mean, he did NOT win a lottery or gambling on the...
I'm not sure, but wouldn't the million be considered "Wages" and thus taxed accordingly. I mean, he did NOT win a lottery or gambling on the craps tables. No matter WHAT tax bracket you are in, I don't think anyone pays 50% income tax.
ATKpilot99 wrote:
It's prize money , not a contracted agreed upon wage.
hmmmm....I bet you're right. I didn't think of it that way...I suppose that is the case for ALL "purse money" then...that sucks.

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