Anthony Davis recently signed a record-breaking $186 million extension with the Lakers. And right during this historic NBA contract extensions, Milwaukee Bucks superstar, Giannis Antetokounmpo is questioning the Michael Jordan curse involved. He raised eyebrows by referencing all the financial challenges players face because of state income taxes.

Davis, who signed the richest annual contract extension in NBA history, could have saved millions if he played elsewhere. But playing in California has a few financial pitfalls.

The Michael Jordan curse bothers Giannis

Rich Paul orchestrated an unprecedented contract extension for Anthony Davis, making it the richest annual deal in the NBA. However, the figures reveal that taxes will claim a significant portion of Davis’s earnings; especially given the high tax rates in California. With a substantial salary of $62 million, Davis faces deductions of as much as $22.9 million in federal taxes. In fact, he will also face $6 million in NBA Escrow, leaving him with only $33 million after taxes.

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However, the biggest Michael Jordan curse, after affecting soccer great Lionel Messi has bothered the Bucks star now. Antetokounmpo, known for his on-court dominance and lighthearted persona, took to Twitter to share his thoughts on these tax implications.

Authorities first implemented the Jock Tax due to MJ. To this, Giannis raises questions about FICA and Jock Tax. He humorously references the mysterious taxes behind players’ financial affairs. Bucks star tweeted, “Who the hell is FICA and Jock can they hoop?”

His playful tweet shines a spotlight on the complex financial realities that professional athletes face. A substantial portion of earnings may not translate to the expected net income due to taxes.

Anthony Davis’s lucrative deal and tax impact

Despite his massive earnings, California’s state income tax has dampened AD’s financial windfall. Moreover, California has the highest marginal rate at 13.9%. This tax rate affects all players who play in the NBA, MLS, or any other sport. However, players on certain teams, like Heat, Orlando Magic, Mavs, Rockets, Grizzlies, and Spurs, enjoy the benefit of tax exemptions.

As a result, these players could save nearly $20 million in taxes over the course of their contracts. Comparatively, for athletes in Cali, a substantial disparity garners attention in the sports world.

As AD secures his historic contract extension and Giannis Antetokounmpo playfully questions tax policies. While the Bucks forward signed his last contract extension for $228M, he has questioned the tax policies for NBA stars.

Do you agree with Antetokounmpo’s questioning? Let us know in the comments below

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