Sham Sports: LaMarcus Aldridge Contract Extension Specifics
Salary guru Sham from ShamSports.com has tracked down the following specifics regarding LaMarcus Aldridge's contract extension. Here is Aldridge's salary by year...
2010-2011: $10,744,000
2011-2012: $11,872,000
2012-2013: $13,000,000
2013-2014: $14,128,000
2014-2015: $15,256,000
Total deal: exactly $65 million dollars. It also includes the potential for additional incentives of $500,000 per year. No specific word on what Aldridge needs to do to achieve these yet.
-- Ben Golliver | benjamin.golliver@gmail.com | Twitter
over 2 years ago
Ben Golliver
33 comments
0 recs |
Email
PrintComments
I hope LaMarcus' incentives are tied to the number of rebounds he grabs
and the number of times he smacks KG on the head.
Or number of wins
That would make more sense, right?
"I always believe there's a reason why you go through everything." -John Elway
After the first million, do you really care anymore?
I don’t think I would care what sort of incentives I was getting if I was already making eleven million a year.
A million doesn't go as far as it used to.
After taxes, you can pay for a house. And a car. And that’s about it. I’d sure care about it.
πάτερ, ἄφες αὐτοῖς, οὐ γὰρ οἴδασιν τί ποιοῦσιν.
A million can buy...
Well I DON’T make NEARLY a million a year, never mind 11 million, so I don’t know..
"I always believe there's a reason why you go through everything." -John Elway
lol
with just 1 million before taxes I could:
1. Pay off my house
2. Pay off all my bills
3. put my kids through college
4. My wife could quit her job
5. go on vacation once every couple of years.
While inflation does impact the numbers, it’s not like $11 million is chump change.
Ben II Blazersedge.com || New to Blazers' Edge?
Why would anything ever be "before taxes"?
Take out 40% for taxes and 5% for an agent almost automatically. That 11 million becomes 6 million real quick. Not to say thats chump change either, but most of us can’t relate to losing close to half of our gross paycheck before we even touch it.
"Ain't nothin' in this world for free."
saying before taxes to show how much money that really is.
$1million before taxes, is about $650,000 after taxes.
1. Pay off my house. About $250,000.
2. Pay off all my bills: About $15,000
3. Put my kids through college: About $120,000 for 2 kids
4. My Wife could quit her job: loss of about $30,000 in household income
5. Go on Vacation once every couple of years: Go on a cruise, about $2,000, go to Disney World, about $5,000.
I guess 4 and 5 are just nice to do, but 1-3 basically makes my financial life complete, plus I would still have about $265,000 in the bank. Ofcourse my kids education would have to be paid over 4 years so I wouldn’t be out all the money up front, and I could invest in guarenteed interest funds and other safe investments that would give me small gains over the years, and I am sitting pretty.
Ben II Blazersedge.com || New to Blazers' Edge?
current tax bracket
is 35% for federal, and since I was talking about me some how getting $1 million, I didn’t include Oregon taxes, (Vancouver resident) or the agent commission.
Ben II Blazersedge.com || New to Blazers' Edge?
9% of player’s salaries is held in an escrow account, which they only get back if the amount of overall player’s salaries is lower than a designated percentage of the league’s total Basketball Related Income. Last year, it wasn’t, and so the players lost 9% of their salaries. When most of them are in a 40% tax bracket and have 4% agents fees, that does some big damage to your paycheck.
by Sham-onnnnnnnnnnna on Nov 6, 2009 3:22 PM PST up reply actions
again
the highest tax rate in America is 35% for federal income tax, if they play in state that has an income tax like Oregon then it would be hire.
But that is not what I am talking about. I was only making the point that $1 million before taxes is still enough money to make a middle income type family never had to worry about money again.
Ben II Blazersedge.com || New to Blazers' Edge?
no sympathy
When I was self employed and grossing 100K/year 50 percent was gone between personal taxes, soc sec times 2, and futa, suta, business insurance and more.
I’ll work 40 years and not gross what LA will have left over after 1 year.
"I play, Coach stays. He goes, I go." - Jimmy Chitwood
by DucRider on Nov 6, 2009 3:47 PM PST via mobile up reply actions
If I had a million dollars.
1. Invest it, make 5% interest.
2. Have a nice $50,000 yearly income.
3. Never have to work or worry about money again.
Disclaimer: everything I know about basketball I learned on Blazersedge.
nice options!
I thought of investing the whole amount, but as most mortgages are over 5% I figured paying that off would be the better move, as well as paying off my debt from student loans and credit cards which are all higher than that. Regardless of that, you helped prove the point that a million bucks is still a lot of cash.
Ben II Blazersedge.com || New to Blazers' Edge?
Thanks for forwarding, Ben
Looks like my ‘guess’ from last week was pretty close…..
"It's Our Time":http://www.youtube.com/watch?v=O99POVJfglY
Possible incentives:
All Star Game: $100,000
Finals Appearance: $100,000
Getting Chalupa Couons for Paul Allen: $100,000
Marry Kevin Pritchard’s niece: $100,000
Shill Windows 7: $100,000
This is fun. :p
πάτερ, ἄφες αὐτοῖς, οὐ γὰρ οἴδασιν τί ποιοῦσιν.
Getting Chalupa Couons for Paul Allen: $100,000
Does this involve him physically picking up the coupons from the printer and delivering them to PA?
Or does he need to go around after Portland scores 100 but loses, pick up any that fell on the floor, stealthily take them from unsuspecting fans’ pockets, and deliver those to PA after the game?
One seems easier than the other.
For playing basketball. LoL
What a World.
Portland's PG of the Future - MORE John Wall
Treat people well because Karma can hit you at any second.
Technically this salary isn't really for playing basketball, per se.
This paycheck is for being highly skilled at a profession where large numbers of people are willing to pay to watch you do your job.
If nobody wanted to see him put the ball in the hoop (or rebound, as other people note!), he wouldn’t be able to get minimum wage to do so.
He’s being paid to entertain us with a unique skill. Basketball playing just happens to be that skill.
Your right......
skills are what you pay for ….In this case, he gets paid because he has demonstrated the ability to play at a certain level…..He will get paid regardless of performance or injury…..
it is an unfair comparison, but ,most folks, envy this because they do not get the same guarantee in life……..even if they have some skills and natural abilities…..financial security is a big burden off most people’s back……there is really no pressure on Aldridge anymore , he can relax, play ball, and have fun…If he wants to work harder , and improve his game, he could make more…… how old is he? 23? Not a bad start in adult life ……..
Should we discuss how Paul Allen made all his money?
There sure was work involved, but also a lot of luck and prices as high as the market was willing to pay. Same with pretty much everything.
But slowly things happen that they cannot help and the Blazers Fellowship of the Ring begins to break apart
The alternative to the players getting so much money is having the owners pocket it all
And no one wants that, do they? (Owners excepted.)
by Sham-onnnnnnnnnnna on Nov 6, 2009 2:50 PM PST reply actions
One thing often not taken into account with pro athlete salaries
Is there aren’t that many professions where an extremely long career is 20 years, and most are less than 15. It’s shocking the number of pro athletes that are broke by the time they are 50.
True. Though e.g. fighter jet pilots usually have to retire at around the same age as pro NBA players.
Like them they can go into things like coaching later. But all in all it only pays them a fraction, and they are also heavily metricized and criticized.
But slowly things happen that they cannot help and the Blazers Fellowship of the Ring begins to break apart
yes they do
Most pilots do not fly for their whole career. They may fly jets for 5 years, but afterward they will move to other airplanes or even into management jobs overseeing other pilots. If they stay in the military until they retire they do get a “pension” but nothing like professional athletes of course.
The point of NBA players having short careers and thus going broke afterward is not really because they don’t make enough while playing though. Many stories have been written over the years about these players paying for large groups of family and friends, as well as overspending and bad finance decisions. Any NBA player who is drafted in the 1st round should be set for life even if they only playout their rookie deals. (obviously that doesn’t include players drafted before the NBA starting giving out millions in contracts).
Ben II Blazersedge.com || New to Blazers' Edge?
that would be their fault
65 million is plenty
to retire on…..and this is only five years…he could easily double that in ten years….and as for taxes, if you invest your money correctly, you could hold on to most of that money and still be debt free in 10 years…..So if he has to retire at say age 35….what’s the problem?
I mean, unless the Earth gets knocked off it’s orbit or we get swallowed up by a black hole, how should athletes end up like this?….. If it’s so, then that extra 2, 3, or 4 years in college may have been a better route to take( maybe they could have learned something)….Taking the money, and being stupid, is what it is……and they certainly have the money to hire a financial adviser…this would be a very wise investment of a tiny portion of your salary
I'm not defending
those that do go broke, as you said, that’s their own fault. I’m just saying their salaries aren’t that outrageous when you consider they are the best in the world at what they do, and are only able to do it for a relatively short time.
Hell, if I had LA’s rookie salary for two or three years, I’d never have to work again in my life.
I make only a mildly above average income, and intend to retire in my 30s
It’s simple: just don’t spend most of what you earn.
Disclaimer: everything I know about basketball I learned on Blazersedge.
what does one do with that kind of money???
unfortunately I will never have the luxury of finding that out…..
Comments For This Post Are Closed
Secondary Sidebar
User Tools
FanPosts
Community blog posts and discussion.
Recommended FanPosts
Recent FanPosts
FanShots
Quick hits of video, photos, quotes, chats, links and lists that you find around the web.
Recommended FanShots
Recent FanShots
In Association With
Ball Don't Lie - NBA - Yahoo! Sport
- Video: Boston works in a half-court football snap after winning the tip
- Judging the choices for the Eastern Conference All-Star team reserves
- Judging the choices for the Western Conference All-Star team reserves
- Jeremy Lin draws inspiration from Tim Tebow
- Stephen Jackson is already tired of Milwaukee
Certain photos copyright © 2012 by Associated Press or Getty Images. Any commercial use or distribution without the express written consent of Associated Press and Getty Images is strictly prohibited.
