Many young people get a tough lesson in taxes that sticks with them. is one such athlete who built his $400 million net worth after educating himself. Now he’s financially wiser and in the position to educate other NBA pros. In the wake of signing his biggest contract yet, Shaq wants him to stay smart. As usual, when AD is enjoying a momentary great thing, swoops in for a big reality check.
Shaq has been hard on Anthony Davis for a long time now. That’s however his way of looking out for the Lakers star.
Anthony Davis signed a contract extension with the that will see him make over $186 million across three years. The franchise has a history of top-billed players, including one 7’1″ dominant center named Shaquille O’Neal. Back in 1996, the Lakers signed him for $120 million for seven years. He didn’t get all of that $120 million at all.
It’s why when he appeared on Rex Chapman’s podcast recently, he said, “Shaq sent a warning to AD about state taxes, athlete taxes, FICA and so much more that will make, “
Shaq is speaking from his own experience as he said, “.” He famously splurged his first paycheck until he got the residual after tax deductions.
As the story goes, Shaquille O’Neal came from to the Lakers unaware tax laws differ by state. Florida is one of the states that doesn’t levy state income tax unlike California. Excited about his new salary bump, he splurged on luxury cars for himself and his parents.
WATCH THIS STORY |
So to AD and “Shaq said that they should learn financial literacy. Especially things like the athlete tax, or commonly referred to as “jock tax” where players on an active roster at an away game have to pay a tax to the state. Shaq also learned about it the hard way when he had to pay jock tax even when he was injured. And he knows AD has his fair share of injuries while still on the roster.
Charles Barkley and Shaquille O’Neal are Davis’ toughest critics. From mocking his injury to his plays, they give him no quarter.
This is exactly what he hopes for with his financial advice for Davis and other players signing supermax contracts. Most recently, Davis enjoyed redemption after a terrible season opener. However, O’Neal is not giving him the benefit of the doubt.
Shaq is going to continue to give his take on Anthony Davis till he’s up to his standards. Do you think he’s too hard on him?
Least Likely
Most Likely
