The star forward of the Milwaukee Bucks, Giannis Antetokounmpo took a dig at the US taxes on August 5, Saturday, after Anthony Davis signed the richest contract extension in the history of the NBA with the Los Angeles Lakers hours earlier. With this blockbuster deal, AD is also set to earn the highest per-season average salary in the league.
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On August 4, Friday, Klutch Sports CEO Rich Paul said that Lakers and Davis struck a three-year contract extension, worth $186 million. ESPN was the first to report this major news, through NBA Insider, Adrian Wojnarowski, who tweeted that the contract extension will keep him at the franchise through 2028, for a sum of more than $270 million. He also stated that the per-season average salary for the 30-year-old will be $62 million.
A few hours later, one of the experts in the athletes' business, Andrew Petcash gave a breakdown of the contract extension of Anthony Davis with the Los Angeles Lakers, including the taxes to be paid. His tweet read, “Anthony Davis just signed the NBA's richest annual extension (3 years $186 million). And the taxes will be steep playing in LA: $62M: Salary - $22.9M: Federal Tax $6M: NBA Escrow $4.1M: Cali Tax $1.8M: Agent Fee $1.8M: Jock Tax $1.4M: FICA/Medicare = $24M: Net Income.”
It led Giannis Antetokounmpo, who is unafraid to speak his mind in person, to tweet, “Who the hell is FICA and Jock can they hoop?” The Greek Freak took a dig at FICA, Federal Insurance Contributions Act, which is a U.S. payroll tax deducted for funding the Social Security and Medicare programs in the country.
