The salaries of NBA players are released to the public at the beginning of the season which leaves most of us scratching our head. How much do these guys actually make?
After I noticed what some of the major stars in the NBA make I wanted to highlight three of the biggest names to show you how much of their money they don't take home. The deductions you will see from the gross salary are federal income tax, state, and city taxes. But there are more deductions. There is also agent fees and a maximum 401K contribution. You will also see that the players get 10 percent of their salary that was held in escrow back from last season after the taxes are taken out.
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The money below is solely player income from their teams, not additional income such as endorsements.
Steph Curry
PG | Golden State Warriors
Gross Pay: $34,682,550
Escrow: -$3,468,255
Federal Taxes: -$11,655,683
City/State Taxes: -$4,105,453
Agent: -$954,597
401K: -$18,000
2016 - 2017 Escrow: +605,618
ShortFall: +$177,725
Net Pay: $15,263,905
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LeBron James
SF | Cleveland Cavaliers
Gross Pay: $33,285,709
Escrow: -$3,328,570
Federal Taxes: -$11,899,082
City/State Taxes: -$2,163,247
Agent: -$947,310
401K: -$18,000
2016 - 2017 Escrow: +1,619,863
ShortFall: +$188,388
Net Pay: $16,737,751
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Russell Westbrook
PG | Oklahoma City Thunder
Gross Pay: $28,530,608
Escrow: -$2,853,060
Federal Taxes: -$10,421,131
City/State Taxes: -$1,276,272
Agent: -$813,321
401K: -$18,000
2016 - 2017 Escrow: +1,433,165
ShortFall: +$191,942
Net Pay: $14,773,931
It is pretty crazy to see that Curry makes only 44 percent, James only makes 50.3 percent and Westbrook make only 51.8 percent of their Gross pay. These players are still doing more than fine considering most of their money is generated in endorsements.
Mitchell Renz is the Senior Writer & On-Air Host at Chat Sports check out his article archive and live videos on Chat Sports Facebook page. Please follow him on Twitter @MitchellRenz365.
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