Jake Oettinger signed an eight-year, $66 million contract extension with the Dallas Stars on Thursday. His average annual salary will be $8.25 million. After tax deductions, Oettinger will likely take home about $5.22 million per year. Texas doesn’t have a state income tax, which helps him keep more earnings.
NHL insider David Pagnotta tweeted the details of Oettinger's contract.
"The math isn't simple, given the factors (jock tax, state income tax vs none, place of residence, NA/EUR, etc.), but simplifying things per @CP_Athlete calculator, as an example: $8.25M in DAL sees someone takeaway ~$5.22M after taxes. $12M in NYC leads to ~$5.29M after taxes."
Additionally, Dallas has a lower cost of living compared to New York.
Insider Aaron Ward replied to Pagnotta's tax breakdown:
"Now do cost of living in NYC versus Dallas, Texas which will mean he keeps SO MUCH MORE of that post tax income. The math and decision is obvious."
Pagnotta added:
"Another mega factor, for sure. Almost a no-brainer for Oettinger."
Jake Oettinger's $66 million contract breakdown
Jake Oettinger's base salary varies, starting at $6 million in the first two years and decreasing to $4.5 million by the final year. Oettinger will also receive signing bonuses ranging from $2 million to $4 million each year.
The contract includes a No-Movement Clause (NMC) for the first five years. In the final two years, he has a Modified No-Trade Clause (M-NTC) that allows him to submit a 10-team trade list.
Contract Breakdown
Dallas Stars GM Jim Nill praised Jake Oettinger
Stars general manager Jim Nill praised Oettinger's skills, leadership and dedication. Since becoming the starting goalie, Oettinger has been key to the Dallas Stars' success.
"Jake has established himself as one of the elite goaltenders in the NHL,” Nill said per NHL.com. ... “He is an integral part of our core that will allow us to contend for the Stanley Cup this season, but also for many years to come."
This season, Oettinger has a 3-0-0 record, a .948 save percentage and a 1.63 goals-against average. He’s tied for the league lead in wins. He has also saved 4.6 goals above expected, ranking third in the NHL.
Drafted 26th overall by the Stars in 2017, Oettinger is now one of the top goalies in franchise history.
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