Soccer superstar Lionel Messi turned down the opportunity to return to his beloved boyhood club Barcelona to play for Inter Miami CF in the MLS. But his decision is not without benefits. The 2022 FIFA World Cup winner is set to earn a lot of money. Remarkably, Messi will become the highest earner in the country and will reportedly earn more than NBA superstars LeBron James and Stephen Curry. However, he might lose some of it with multiple taxes including the “Michael Jordan Revenge Tax”.

Messi arguably switched the entire world’s attention to the United States after his decision to sign with Inter Miami. Notably, after Messi made his announcement, Inter Miami’s Instagram account went from 900,000 followers to 6.5 million.

Lionel Messi set to eclipse LeBron James and Stephen Curry

Lionel Messi will become an Inter Miami player on July 1, 2023, when his contract kicks in. According to a recent report from NBC Sports, Messi will earn close to $60 million per year in salary along with owning a stake in the team and his signing bonus. However, he will also lose a major chunk in taxes. He will reportedly pay over $20 million in taxes. Interestingly, this includes the “Michael Jordan Revenge Tax” as well.

Jordan’s dominance over his opponents has led to so many things. But it is hard to fathom that it also led to a tax that is being paid by thousands of people every year. It is none other than the Jock Tax. As per a recent report, Messi’s Jock tax will take his total tax amount per year well over $20 million.

The report claims Messi will have to pay close to $20 million in Federal Tax, $1.64 million in Jock Tax, and $1.29 million for FICA/Medicare. After the levy, the superstar will take home $31.7 million annually from his salary.

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Even though the striker will lose a lot in taxes, he will still earn more than LeBron James and Stephen Curry. While Curry will earn $51 million in salary next season, James will receive $46 million. However, this is before taxes. After taxes, the stars might get less than Messi’s $31.7 million.

What is the “Michael Jordan Revenge Tax?”

Michael Jordan is believed to be the reason behind the infamous Jock Tax. Apparently, everything started when Jordan and the Chicago Bulls defeated the Los Angeles Lakers in the 1991 NBA Finals. After this, the Los Angeles administration allegedly imposed a tax on Jordan as “revenge”. The administration reached out to MJ’s accountant and revealed the implementation of a non-resident income tax on visiting athletes.

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However, this triggered a reaction from Illinois passing the ?Michael Jordan?s Revenge? bill. The bill levies taxes on athletes from California and any other state that imposed a tax on their residents. It did not stop there as every state implemented a similar tax which is now called the Jock Tax.