The Raptors sent out a "mass mailing this month to
writers who regularly cover the NBA," according to Rick
Bonnell of the CHARLOTTE OBSERVER, who reported the two-page
letter describes "what a fine city Toronto is, and how the
Canadian tax bite isn't really so brutal on professional
athletes." Raptors GM Glen Grunwald said of the letter,
"Everyone believes there are tax problems in Canada. We're
just trying to correct the misinformation. The trouble is,
NBA agents don't know a lot about Canada, like they would in
hockey and baseball." Bonnell noted that after losing free
agent G Tracy McGrady to the Magic, the Raptors had about
$6M in salary cap room, but the team's "big deals" for F
Rashard Lewis and F Austin Croshere were turned down. The
Raptors later signed G Mark Jackson to a three-year $15M
deal. Bonnell: "Sun Belt cities will always have an
advantage recruiting free agents, but Toronto is no worse
off than Detroit or Cleveland in that respect. ... A bit of
advice for the Raptors: Recruiting is like dating --
insecurity is always a turn-off" (CHARLOTTE OBSERVER, 8/20).
In Orlando, Tim Povtak noted the Raptors are "promising
anyone who will listen now that they will structure their
contracts to avoid the Canadian tax man." Grunwald noted in
the letter how the 47.7% Canadian tax rate legally can be
reduced to a 39.12% rate for a U.S. player with the Raptors.
Povtak: "However well-intended, the letter still comes
across as a sad stab at trying to salvage something from a
disappointing summer in Toronto" (ORLANDO SENTINEL, 8/20).
