Carmelo Anthony Takes $62 Million Advance :damn:

[muzikfrk75]

Knicks' Carmelo Anthony Takes $62 Million Advance
Star Forward Takes 50% of $124 Million Deal

New York Knicks star Carmelo Anthony is getting advance payment of more than $62 million from the five-year contract he signed last month, according to people familiar with the matter.

The advance for $62,032,340—or 50% of his $124 million-plus deal—is the maximum Anthony can take this soon under league rules. And in terms of sheer dollar amounts, it is surely among the largest advance payouts a player has taken in NBA history. Only Kobe Bryant, Jermaine O'Neal, Kevin Garnett and Rashard Lewis have ever signed contracts for larger amounts.

Anthony's advance will have no impact on the Knicks' salary-cap situation. It simply changes the timing of when the 30-year-old will receive his biggest paychecks over the course of the contract.

Anthony's agent, Leon Rose, didn't immediately return a call seeking comment.

While the $62 million figure is unique, Anthony wouldn't be the first player to take a 50% advance on his contract. Knicks swingman J.R. Smith—who is also represented by Rose—did the same thing last summer, when he took half the money from his new, nearly $18 million contract upfront.

http://online.wsj.com/articles/knicks-carmelo-anthony-takes-62-million-advance-1408146976


You can bullshyt with rings if you want

 

[R.E.N. Spells Ren]

Wait, they can get advance payment with no penalty?

Don't ever call these nikkas slaves again

 

[Long Live The Kane]

low on cash? liquid cash i mean

 

[PortCityProphet]

This have something to do with how it's taxed?

 

[Shogun]

dudes on here have the nerve to call him a loser

 

[muzikfrk75]

Wait, they can get advance payment with no penalty?

Don't ever call these nikkas slaves again

I didn't know either.

Jalen once said that it's rumored that Kobe gets paid once a year.

Receive an 8 figure check brehs

 

[AlbertPullhoez]

If I was Melo I would've said fukk Chicago too. He won

 

[Rocket Scientist]

Majority of that goes to LALA

 

[Ed MOTHERFUCKING G]

This have something to do with how it's taxed?

IF tax rates remain the same (they won't) its the same now or later because he's in the highest bracket regardless. It likely has to do more with the ability to invest or spend the funds today.

I just hope he doesnt put it on on red in atlantic city

 

[R.E.N. Spells Ren]

I didn't know either.

Jalen once said that it's rumored that Kobe gets paid once a year.

Receive an 8 figure check brehs

I legit can't believe these billionaires agreed to this.

Every player should be exercising this option.

 

[MikelArteta]

these gawt damn slaves

 

[the artist known az]

I knew you could get paid year round or just through the season. Dude that mentioned Kobe, I remember last year they paid him his salary for the year all at once. I believe it was right after he got hurt

 

[Reggie]

Never realized that NBA players could do that.

 

[FS4LFE]

Rashard Lewis?

 

[KnickstapeCity]