Jagr owes IRS $3 million

T

TIME TO MAKE $$$

Registered
Forum Member
Jul 24, 2001
11,493
0
0
50
TORONTO, CANADA
PITTSBURGH (AP) -- Jaromir Jagr of the Washington Capitals owes more than $3 million in back taxes, the Internal Revenue Service alleges in a federal tax lien.

The IRS filed the lien Friday in Allegheny County Court.

According to the lien, Jagr owes $3,270,209 in income tax for the 2001 calendar year. That amount might include penalties and interest.




Jagr made more than $10 million, including bonuses, from the Pittsburgh Penguins in his last season with the team, 200-2001. He later signed a $78 million contract with the Capitals.

``Jaromir and his financial advisers are aware of the situation and he has been assured that the proper steps are being taken by his financial team to resolve this matter,'' said Linda Dozoretz, a spokeswoman for IMG, Jagr's sports marketing management team.

In August, the IRS filed a claim for $350,000 in unpaid income taxes and penalties and interest for 1999. That lien was satisfied when the balance was paid.

Jagr has 30 days after receiving notice of the lien's filing to request a hearing with the IRS Office of Appeals to contest the action.

Jagr still owns a house valued at $338,400 in Upper St. Clair, according to the Allegheny County real estate Web site. The lien lists an address for Jagr in Severna Park, Md.
 
grooven

grooven

Registered User
Forum Member
Jun 30, 2002
1,459
4
0
The dark side of the Moon
Buzz Daly's Sportsbook Scene: Hockey Jock Stiffs Offshore Book for $500K ...
Sportsbook Scene, by Buzz Daly

April 15, 2002

Hockey Jock Stiffs Offshore Book for $500K ?
Big Question Is, Did He Bet on NHL Games?

Conventional wisdom, as expressed in some Internet posting forums devoted to sports betting, would have us believe that many sportsbooks are out to rip off customers.

But as is often the case, conventional wisdom is full of blueberry muffins.

"Bettors are quick to accuse books of improper activity, when the reality is that the books have to be on guard for the crazy schemes of some of our customers," asserted a spokesman for Carib Sports (www.caribsports.com), a prominent offshore gaming company.

The offshore industry has compiled an enviable record of paying customers, or it wouldn't be such a popular venue for sports bettors, he noted. The offshore executive cited his own book as an example of the industry's reliability. "We've paid out millions of dollars to tens of thousands of customers since our first year in 1993."

But the cost of doing business is spiraling sharply higher due in part to a few customers trying to cheat books out of substantial sums of money.

One such instance, said the executive, is a professional athlete who owes Carib almost a half million dollars, after being granted nearly a 33 percent reduction off the total amount.

Jaromir Jagr, who plays for the Washington Capitals of the National Hockey League, opened a betting account and requested a credit arrangement with the book, which was granted, said the spokesman.

Initially, Jagr won a substantial amount of money and was promptly paid. But when he began losing, he reportedly made various requests for extensions and payout programs.

He was fully accommodated by the book, said the spokesman. Paperwork shows that Jagr's lawyers negotiated financial arrangements, "to settle this matter in full".

Jagr himself proposed the settlement plan, which would have paid off his debt within 10 months. Under the plan, he would have received a discount of $244,000.

That plan was dated June 12, 2000, and sent to the sportsbook, which accepted the proposed terms.

However, according to the book, Jagr has not made any effort to live up to the agreement, which he himself suggested. There is no question about the amount owed or the legitimacy of the debt. That is all acknowledged in the proposal.

The player simply refuses to pay.

His lawyer says he hasn't had much contact with Jagr in the last six months. He said he didn't know of any plans by his client to welch on the payment proposal. Of course, Jagr's lawyer cannot make him pay off his losses.

Before printing this story, we asked the attorney if he wished to add a comment. We were referred to another office, where the individual told us, ?I haven?t got a clue as to what you?re talking about.? A curious response, given the fact that he was the person who signed the letter in which the payout proposal to Carib was made.

Underlying all the negative financial implications relating to Jagr on this incident is the crucial question: did his action include making bets on the NHL?

If it did, Jagr has a lot more to be concerned with than simply making good what he owes. There are severe penalties for professional athletes who bet on the sport in which they earn a living.

When we put the question to the sportsbook executive ? ?Did Jagr bet on NHL games?" ? he paused, then replied, "No comment".
 
You must log in or register to reply here.
Bet on MyBookie
Top