Giannis Antetokounmpo Burns ~$2 Million Hole in His Pocket Solely Due to Michael Jordan, Amid $186,000,000 Contract Extension

1991 was a life-changing year for Michael Jordan who dropped 30 points in the final match against the LA Lakers, bringing home the Chicago Bulls‘ first-ever championship as well as his own. However, with it came a curse that would change the entire landscape of the NBA. The ‘jock tax’ came into existence as a result of Michael Jordan taking the Bulls to a win against the Lakers.

The 1991 win resulted in the state of California taxing Jordan. Illinois upset that their top player was being penalized, went out of their way to seek revenge and started taxing other athletes for games. The ‘Michael Jordan Revenge’ was the moniker given to this tax. As of now, most states in the US have implemented the jock tax. Giannis Antetokounmpo has recently found himself at the receiving end of this stick.

The Michael Jordan tax will take money out of Giannis’ pocket

Giannis had remained loyal to the Milwaukee Bucks ever since he was drafted back in 2013. Just recently, the Greek Freak has signed a $186 million three-year contract extension with the Bucks. However, this comes with a price as the Michael Jordan curse is set to take away a chunk of that money. Despite pocketing the mouth-watering $186 million deal, Giannis will probably have to pay the jock tax amounting to $2 million, which is a lot of money even by his standards.

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In other words, the tax works in such a way that any athlete who earns in a particular state despite not being a resident is normally obligated to pay income tax on the amount of money made in that state. Giannis was, in fact, unaware of this tax until the Lakers’ Anthony Davis signed a $186 million, three-year contract extension in August.

Giannis finds out about the jock tax from Anthony Davis’ deal

Back in August, after Davis sealed the deal, Andrew Petcash broke down AD’s salary after taxes and uploaded it on X. Appalled by the amount of taxes Davis had to pay, Giannis retweeted the post with the caption, “Who the hell is FICA and Jock can they hoop?” Turns out the Greek Freak had just found out about the tax.

Now it looks like Giannis himself will be subject to this tax. Unfortunately, this is how the NBA works and Giannis is about to find this out the hard way. Do you think it’s fair that the athletes have to pay the jock tax? Let us know.

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