Money Matters
DeMar DeRozan will make $1.92 million next season and $2.05 million his second season in guaranteed money with the Toronto Raptors. Taj Gibson will make $866,500 next season and $931,400 the following season with the Chicago Bulls.
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DeMar DeRozan will make $1.92 million next season and $2.05 million his second season in guaranteed money with the Toronto Raptors. Taj Gibson will make $866,500 next season and $931,400 the following season with the Chicago Bulls.
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After some quick computations, even assuming 40% federal and state taxation, DeRozan will clear $2.5 million, making him a multi-millionaire, and Taj will clear $1.1 million, making him a millionaire.
No wonder they both left early, and good for them because not 1 in 100,000 kids who can play basketball will ever make a nickel in the pros.
That is so true LJ, and as for the computations, in the case of DeRozan, he may also be hit with Canadian taxes, or he may be subject only to Canadian tax, I'm not sure which of the tax laws apply.
If it's anything like the US's arrangements with other countries, up to $x will be exempt from US taxes, and thereafter, pay is subject to US and Canadian tax. But maybe Canada has a better deal with the US due to proximity (and it may not be uncommon for folks to reside in one country but work in the other).
Spoken like a lawyer stereotype. get money fast is only factor. The money is there. Maybe more if you get better first and accomplish something.
I know 3 qb's next season who disagree. And Taylor Mays
Thanks for the insult, paulm. God bless.
Is Taj's contract guaranteed, or could he still be cut? Of course, I don't think he will be cut. But, I'm still not sold on his limited offensive game and physique in the NBA for a long haul.
DFW - In the NBA, all contracts are guaranteed. First round picks like Taj automatically receive contracts. Second round picks have to make the team to get the contract.
The first round contracts are pre-set. The team can still cut the player, but would have to pay him.
That is why the Lakers sold the first round pick to the Knicks. The Lakers got $3M and avoided paying a guaranteed salary of over $1M during the contract term for a player that will not play.