I think the top marginal rate is a bit higher (they're basically charging people like 50% interest on the Ontario taxes owed, or some ********). Still, as you mentioned, only a portion is taxed at that rate.
I have to wonder if Rogers couldn't muck with it though. Basically offer a player 1 special preferred share, pay out most of the salary as a dividend, and have it only taxed at the dividend rate or something? I think CEOs and other high earners have been doing that for a long time, but I could have the details wrong.