Kevin Garnett Secured Financial Security With $5 Million Gain to His Fortune Per Year Since Retirement

NBA legend Kevin Garnett was one of the best forwards the league has ever seen. So it was no surprise when he was one of the biggest earners at one point in the league. Notably, the ‘Big Ticket’ earned a spot on Forbes‘ highest-paid athletes list in 2012 thanks to his NBA salary and endorsement deals. Over the course of his career, KG reportedly earned $334 million in salary.

Even though he was very popular, the Boston Celtics legend did not make much from endorsements and relied mainly on his salary. However, we have seen stars blow up their fortune after retirement. Without a steady income after retirement, many athletes have found it hard to maintain their lifestyle, and some have gone bankrupt. Garnett was not ready to make that mistake.

Kevin Garnett had his eyes on the future

After joining the NBA in 1995, Kevin Garnett signed a massive 6-year $126 million contract extension with the Minnesota Timberwolves in 1998. In 2004, he agreed to a 5-year $100 million extension with the Wolves. Finally, he signed a 3 year $51.3 million veteran extension with Minnesota in 2007 before his move to the Boston Celtics.

During his successful stint in Boston, Garnett accepted a 3-year $36 million contract. As he entered the twilight of his basketball career, the future Hall of Famer made sure he had a steady stream of income after his retirement.

So, he smartly negotiated a deferred salary in two of his contract extensions. With this, he was set to earn $5 million per year for seven years until 2024 which would be $35 million. Thanks to this move, KG has earned $5 million every year since his retirement in 2016.

According to Steve Aschburner, “In fact, Garnett’s self-funded pension (apart from his NBPA one) will be pretty plush. Two sources told NBA.com that the Celtics forward will still have $35 million coming after he retires. He’ll be due $5 million annually for seven years, the result of deferred salary Garnett and agent Andy Miller got in each of his last two contract extensions,” as per a report from NBC Sports from 2011.

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The ‘Big Ticket’ had his eyes on the future and was not worried about delaying receiving a portion of his salary. However, this is not his only source of income after retirement.

Kevin Garnett’s investments and earnings

Kevin Garnett turned his focus to entrepreneurship after his basketball career came to an end. The 15x NBA All-Star has made notable investments in various fields including entertainment, real estate, professional sports, etc. Interestingly, during his time in the league, Garnett attempted to invest in the Italian soccer team AS Roma.

However, the NBA blocked this move because Celtics co-owner James Pallotta also owns part of the club. So he bided his time and invested in the team in 2018. Also, KG has been open about his desire to become a co-owner of his former team, the Timberwolves. But nothing has materialized so far.

The 2004 NBA MVP has invested in commercial buildings in South Carolina, and several multi-family homes in the Minneapolis area. He also earned close to $10 million in profit when he sold his $6.4 million Malibu mansion for $16 million in 2021 as per Marca.

Kevin Garnett invested in Gaming Society, a gamification and content company in 2021. The company aimed to educate sports bettors and to “create smart bettors”. In the world of entertainment, KG has earned with his work on Inside the NBA and other shows as an analyst.

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Also, Garnett founded the Content Cartel Production Studios a few years back. The studio joined hands with Ronin Media Networks to launch the global channel, VEEM.TV, in 2023.