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Re: Bass Elite Winnings after 8 events
[Re: Fishspanker]
#11074370
08/31/15 02:12 PM
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Joined: May 2009
Posts: 4,170
snickers
TFF Team Angler
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TFF Team Angler
Joined: May 2009
Posts: 4,170 |
High steaks gambling with a good write off.
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Re: Bass Elite Winnings after 8 events
[Re: NTX Fisherman]
#11074376
08/31/15 02:16 PM
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Joined: May 2007
Posts: 666
Pat Cella
Pro Angler
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Pro Angler
Joined: May 2007
Posts: 666 |
Sponsorship money and the financial aspect of pro fishing is shrouded in mystery, but there is some info out there. I've looked into this as much as possible and here is what I've decided about the sponsorship deals the elites have. These are estimates but it's the best I've been able to come up with.
Tier 1 - The top 10-12 guys. They make 500k + a year from sponsors. KVD, Skeet, Ike, Swindle, etc. High profile guys.
Tier 2 - Another 10-15 guys. They make 80-100k a year from sponsors. Enough to cover expenses so that all winnings are take home profit.
Tier 3 - 50-60 guys. They make 30-60k a year from sponsors and come out of pocket another 30-60k a year to fish.
Tier 4 - 25 or so guys - No financial backing, only boats, electronics, product etc. New guys trying to make it year to year.
Tier 5 - Steve Kennedy. No sponsors. Fishes out of his own boat, etc. I would say this is pretty close, but I would say that there are maybe only five anglers in tier one, but that is just my opinion.
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Re: Bass Elite Winnings after 8 events
[Re: Fishspanker]
#11074573
08/31/15 04:18 PM
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Joined: Sep 2003
Posts: 3,406
Champion1
TFF Team Angler
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TFF Team Angler
Joined: Sep 2003
Posts: 3,406 |
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Re: Bass Elite Winnings after 8 events
[Re: Fishspanker]
#11074588
08/31/15 04:27 PM
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Joined: Oct 2013
Posts: 2,578
UTDmiller
Extreme Angler
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Extreme Angler
Joined: Oct 2013
Posts: 2,578 |
Assuming most pros have their fishing business set up as a Sch C on their taxes, they get to write off all depreciation of assets pertaining to their business against their taxable income. So when you say the depreciation costs them, in a way yes it does but they are also being taxed on less. What would be a pain in the butt is all the state returns for the different states they fish in. I'm sure most have a CPA who knows taxes well and helps them save as much on taxes as possible.
John Miller
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Re: Bass Elite Winnings after 8 events
[Re: RedRanger]
#11075417
08/31/15 11:49 PM
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Joined: Dec 2007
Posts: 3,336
T54
TFF Team Angler
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TFF Team Angler
Joined: Dec 2007
Posts: 3,336 |
I doubt many guys are putting out $100K in cash to fish.
If they are paying all out of their back pocket I would think it would be around 60 to 70K
It looks like a hard way to make a living to me......... I think you are right on it there. No way the average OOP expense is 100K. Maybe someone spent that much, but again, it is an outlier and not a good representation of actual cost. James Biggs said he fished the FLW Tour for 42K, so add two more events on the West Coast and it bumps up $58,000? Definitely a hard way to make a living.
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Re: Bass Elite Winnings after 8 events
[Re: Fishspanker]
#11075536
09/01/15 12:59 AM
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Joined: Jul 2011
Posts: 5,291
Dubee
TFF Celebrity
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TFF Celebrity
Joined: Jul 2011
Posts: 5,291 |
I don't think james had to pay entry fees. Add that and he is at a 100 grand.
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Re: Bass Elite Winnings after 8 events
[Re: Dubee]
#11075603
09/01/15 01:29 AM
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Joined: Jun 2015
Posts: 286
NTX Fisherman
Angler
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Angler
Joined: Jun 2015
Posts: 286 |
I don't think james had to pay entry fees. Add that and he is at a 100 grand. FLW entry fees are only around 20k for the year.
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Re: Bass Elite Winnings after 8 events
[Re: Fishspanker]
#11075627
09/01/15 01:37 AM
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Joined: Jul 2011
Posts: 5,291
Dubee
TFF Celebrity
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TFF Celebrity
Joined: Jul 2011
Posts: 5,291 |
This thread is about elites. He used james as an example of expenses. Add james expenses and elite entries it is over a 100 grand.
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Re: Bass Elite Winnings after 8 events
[Re: Fishspanker]
#11075694
09/01/15 01:59 AM
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Joined: Dec 2007
Posts: 3,336
T54
TFF Team Angler
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TFF Team Angler
Joined: Dec 2007
Posts: 3,336 |
I went back and read his post: If you don't pre practice & are cheap like me, you can fish for $40,000-43,000. You will have to cut 4 checks in 6 events against the best in the world on lakes you don't know to break even. Keep that in mind. Odds are not in the new touring anglers favor. That being said if it's your dream to try it if go for it. I really like the staff at FLW. he is not saying 40,000-43,000 in expenses. The 100K number is off.
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Re: Bass Elite Winnings after 8 events
[Re: Fishspanker]
#11075725
09/01/15 02:08 AM
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Joined: Jul 2011
Posts: 5,291
Dubee
TFF Celebrity
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TFF Celebrity
Joined: Jul 2011
Posts: 5,291 |
Like i said that is flw not the elites which is what this thread is about. It is not close what it cost to fish flw compared to the elites especially this year with the west coast swing. You can't compare the two.
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Re: Bass Elite Winnings after 8 events
[Re: Fishspanker]
#11075740
09/01/15 02:11 AM
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Joined: Jul 2011
Posts: 5,291
Dubee
TFF Celebrity
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TFF Celebrity
Joined: Jul 2011
Posts: 5,291 |
40,000 will just cover entries in the elites
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Re: Bass Elite Winnings after 8 events
[Re: Dubee]
#11075799
09/01/15 02:27 AM
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Joined: Dec 2007
Posts: 3,336
T54
TFF Team Angler
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TFF Team Angler
Joined: Dec 2007
Posts: 3,336 |
40,000 will just cover entries in the elites I understand that. So expenses per event are higher than the $5,000 entry fee?
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Re: Bass Elite Winnings after 8 events
[Re: Dubee]
#11075811
09/01/15 02:31 AM
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Joined: Dec 2007
Posts: 3,336
T54
TFF Team Angler
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TFF Team Angler
Joined: Dec 2007
Posts: 3,336 |
Like i said that is flw not the elites which is what this thread is about. It is not close what it cost to fish flw compared to the elites especially this year with the west coast swing. You can't compare the two. Uhh...yes, you can. Add in the additional entry fees and account for the two West Coast events. Still doesn't add up to an additional $57,000-$60,000 as you are saying. 30K additional, max. Which puts you around the 70K mark.
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Re: Bass Elite Winnings after 8 events
[Re: Fishspanker]
#11075861
09/01/15 02:52 AM
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Joined: Jul 2011
Posts: 5,291
Dubee
TFF Celebrity
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TFF Celebrity
Joined: Jul 2011
Posts: 5,291 |
If you can't understand how 40,000 in entries for 8 tournaments plus expenses to fish from florida to california to the great lakes can cost 100,000. I can't explain it to you.
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Re: Bass Elite Winnings after 8 events
[Re: T54]
#11075946
09/01/15 03:51 AM
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Joined: Mar 2008
Posts: 1,819
MikeSouza
Extreme Angler
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Extreme Angler
Joined: Mar 2008
Posts: 1,819 |
Here is a video from 2012 titled "How much does it cost to be a BASS Pro?" They asked Elites Series anglers what it cost them for one season with entries and expenses. Most said $80-100k. https://www.youtube.com/watch?v=BQntmiri4G4
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