What is it about rich athletes and taxes? Can't these guys afford to hire good financial planners and tax advisers?
Prince Fielder, first baseman for the Milwaukee Brewers and son of another renowned long-ball hitter Cecil Fielder, allegedly owes the IRS $409,149 in federal income taxes.
According to the Detroit News'
The lien, which shows Fielder's primary residence in Melbourne, Fla., lists the owed income as being earned in 2003. That's the year after the younger Fielder signed his first Major League Baseball contract and received a
The Brewers were in Toronto playing the Blue Jays when the tax lien news surfaced. The CBC reports that Fielder declined to comment on the matter.
The team is taking a similar tight-lipped approach. with Brewers general manager Doug Melvin also not talking and manager Ned Yost saying only, "That's nobody's business but his. That has nothing to do with baseball."
Fielder had 50 home runs last season, leading the National League in that category. He also drove in 119 runs. In light of those numbers, Fielder tried to negotiate a long-term deal with Milwaukee, but the two sides failed to reach an agreement.
Fielder is now playing under a
one-year deal worth $670,000. He will be eligible for salary
arbitration next year.
For his sake, I hope the young man gets a new financial team to help out with that new deal and its associated tax responsibilities.