Chad's a smart man. He's done a great job marketing his name, becoming an attraction off the field as much as he is one on the field. It's kind of like the Super Bowl. Only a few really get into the game, watch the chess match between coaches, understanding how coverages works, explaining to the less knowledgeable observers why real NFL football is nothing like fake NFL football (aka, Madden). For the most part, those people that know little about football watch the Super Bowl for the company of a Super Bowl party or the commercials. Chad is the same thing. A lot of people like Chad. But there's different populations. There's the Bengals fans. There's the non-Bengals fans who like Chad's mad dancing skillz.
But we can all appreciate that the dude knows how to reduce what he owes in taxes. Writes CNBC Sports Business reporter Darren Rovell:
This past season, Cincinnati Bengals wide receiver Chad Ochocinco was fined $30,000 for wearing a sombrero after a touchdown and $20,000 after he flashed a dollar bill at an official during a replay challenge.
But all isn't lost. That’s because the price he paid for his shenanigans is actually tax deductible.
But assuming Ochocinco—who made $4.75 million last season—paid the standard three percent to his agent Drew Rosenhaus, he’s already above the 2 percent or $95,000 floor.
So how much of a deduction can Ochocinco take on the two fines?
The $50,000 in fines will result in Ochocinco paying approximately $17,500 less in federal income tax, Raiola said.
“Based on his tax bracket, every $10,000 in fines, will save him $3,500 in taxes,” Raiola said.
So the next time you hear about Chad being fined by the NFL, just know that the real motivation is making April 15 as cheap as possible. And that's something everyone can appreciate.