Malcolm Butler knows last-minute, goal-line interceptions. Now he knows a Chevy Colorado because of such 11th-hour heroics—and the ingenuity of accountants.
The undrafted rookie, who picked off a Russell Wilson pass to seal the fourth Super Bowl victory for the New England Patriots, picked up a Chevrolet Colorado at Clay Chevrolet in Norwood, Massachusetts on Tuesday. With Boston’s public transportation out of service, and some roads still covered in ice and snow, the massive, four-wheel-drive truck arrives at the right time for the man who arrived at just the right time to steal victory from the jaws of defeat.
When asked if he were a truck enthusiast, Butler responded: “I think I am now.” Chevy, which won their truck massive attention with a sweaty, stammering dealer gifting one to Madison Bumgarner after the World Series, certainly sees giving away trucks to star athletes as enthusiastically as the athletes appear in receiving them.
Tom Brady promised Butler the truck in the aftermath of the Super Bowl victory. But tax penalties made the gift more like a curse. Draconian tax rules would have penalized Brady twice—for income on receipt of the vehicle and on the gift tax above the allowed exclusion—on a truck he had no plans to ever drive. Brady’s tax penalty for the Chevy Colorado would have exceeded the sticker price for a standard-features Chevy Colorado.
“Of course,” tax lawyer Jim Lacy told Breitbart Sports, “if he took possession in his own name, didn’t announce he was giving it to Butler, and just loaned the truck to Butler for awhile there would be no tax event.”
Something akin to this took place, as Chevrolet gave the truck to Butler without Brady serving as the go-between. Butler, who makes around $500,000 a year, still gets hit on the vehicle somewhere around $15,000 because the previously unknown player making near the league minimum nevertheless qualifies for the top tax bracket. But now his generous teammate doesn’t have to be so generous to Uncle Sam.