“Can they hoop?” – Giannis Antetokounmpo pokes fun at Anthony Davis’ tax bill after RECORD-BREAKING contract, cracks hilarious dad joke
Giannis reacts to Anthony Davis' massive contract extension.
Follow Us
Giannis Antetokounmpo and Anthony Davis (image via Getty Images)
Anthony Davis, arguably the second-best player from the Los Angeles Lakers, will sign a three-year, $186 Million extension with the Lakers. The contract will allow him a $62 Million annual salary, the highest average salary per year in NBA history. Andrew Petcash broke down his contract and how much Davis would earn post-taxes. Giannis Antetokounmpo, though, had a funny reaction to the tweet that broke his new contract.
“Who the hell is FICA and Jock can they hoop?” Antetokounmpo tweeted, replying to the tweet. Players from LA Lakers are subject to the tax laws of California, due to which they pay a lot to the government. Seeing the breakdown, Antetokounmpo joked and tweeted, asking fans what FICA and Jock are and if they can play basketball. He intended to hint at the unfairness of this situation, due to which Davis is receiving such a massive pay cut.
FICA is the federal payroll tax of the US government, and they use taxes collected to fund Social Security and Medicare. Jock Tax is an income tax put on players from five states – Florida, Nevada, Tennessee, Texas, and Washington- so players from these states have to pay much more taxes than players from other states.
The hidden cost of Anthony Davis’ historic contract with the Lakers: taxes
ESPN’s Adrian Wojnarowski reported that Davis will soon sign a three-year $186 Million extension with the LA Lakers. The contract will start in the 2025-26 season after his current contract ends. As per the laws, the deal will face a 61% cut in his salary due to taxes. Doing the maths, he will only be taking home $24 Million, losing $38 Million due to the laws.
Taxes are steep in Los Angeles, including – Federal tax, NBA escrow, California State tax, agent fees, FICA/Medicare, and the Michael Jordan (Jock) Tax. After the Lakers lost to the Jordans’ Bulls in the 1991 NBA Finals, the authorities introduced the infamous “Jock tax.”
The list of various payments he has to make includes – $22.9 Million in federal tax, $6 Million in NBA escrow, $4.1 Million in state tax, $1.8 Million in agent fees, $1.4 Million in Medicare, and $1.8 Million in Jock Tax. This puts into perspective what NBA superstars earn, and the salaries on paper are not what the players get. So even if this might be the wealthiest contract per average salary, it falls behind many due to the pay cut.
In Case You Missed:
- “People treat him like a zoo animal” – LeBron James’ appearance at restaurant causes RUCKUS, NBA fans slam bystanders for invading Lakers superstar’s privacy
- NBA rivals Dwyane Wade and Dirk Nowitzki finally BURY BEEF after 12 years
Stay Updated!
Chinmay Mehta
(83 Articles Published)