NBA player take home pay

[saltlover]

I think NBA players can choose to be paid bi-weekly or in full before the season starts. In the NFL, they paid every game.

It's negotiable when you sign a contract.  Teams obviously would like to pay player's as late as possible (money earns more interest in bank/investments, or is better for cash-flow for a few teams).  Smart players should want their money as earlier as possible for the same reasons.  I forget exactly how much can be paid early, but I think it's 75% (so Kobe got like 75% at the beginning of the year, and then gets the final 25% in equal amounts biweekly, for example).  For teams that don't have cash-flow issues, it's a way to give players a little more money in the deal while paying him the same amount for salary cap purposes, since technically that player should expect to earn more in interest over the life of the contract.  Agents also like it, since they get paid earlier too.

So it's not as simple as "players get to choose", but yes, some players negotiate to get paid earlier.

[Tr1boy]

I think NBA players can choose to be paid bi-weekly or in full before the season starts. In the NFL, they paid every game.

It's negotiable when you sign a contract.  Teams obviously would like to pay player's as late as possible (money earns more interest in bank/investments, or is better for cash-flow for a few teams).  Smart players should want their money as earlier as possible for the same reasons.  I forget exactly how much can be paid early, but I think it's 75% (so Kobe got like 75% at the beginning of the year, and then gets the final 25% in equal amounts biweekly, for example).  For teams that don't have cash-flow issues, it's a way to give players a little more money in the deal while paying him the same amount for salary cap purposes, since technically that player should expect to earn more in interest over the life of the contract.  Agents also like it, since they get paid earlier too.

So it's not as simple as "players get to choose", but yes, some players negotiate to get paid earlier.

Interesting points.

[BballTim]

  I remember reading after a game in the 80s that Robert Parrish took off his jersey after a game and had a lpaycheck stuck to his body. Apparently he'd just tossed it down after he got it and it ended up inside his jersey when he put it on.

[Section301]

Couldn't really find much info on this on the net.  Just curious to know. If a NBA player makes 20 million a year , minus injury insurance, agent fees, taxes etc., how much does he take home?

I read before some players , like Kobe get most of their salaries before the season ends.  Do other playes get paid biweekly like most people?  Is it for the duration of the nba season or for the whole year?

The real question is,  how do they figure out which one of them pays for the team dinner. =]

I know some sports pay out during the season and many players run out of money before the next season due to a dumb lifestyle.

I guess its hard for us regular joes to get it. But if i even had 10 million dollars of home take money, didn't know jack about investments, didn't trust anyone, all you would have to do is put that money in a regular savings account (3-4 percent interest) and then you could live off the interest yearly for the rest of your life.

Assuming you could find a savings account that paid 3-4% interest.  It's hard to even get close to 1% without a huge minimum balance.....which you would have, of course, if you banked 10 mil, but still - haven't seen 4% interest on a savings account in this century.

[indeedproceed]

This was written during the lockout:

There are some owners who think the players union will cave once players start missing a few paychecks (their first one wouldn’t be until Nov. 15, then most players are paid bi-weekly through the regular season). The longer the players can hold out, the more the owners have reason to compromise as they are not getting in any revenue from games and they still have expenses.

Some have it set up to be paid bi-weekly over the course of the calendar year, but the majority are paid bi-weekly during the NBA season.

So are the wild spenders the ones setting up for biweekly pay for the whole year?

Kobe gets paid one lump sum before the season starts. I know that for certain. Rumor is that he demands it be delivered by Jennie Buss, alone. No cops. And no Dye packs. Non-sequential 20's only, and if he gets one sniff of a transponder or tracker, he's gonna call the whole thing off and blow up the buss, Jack.

[saltlover]

Couldn't really find much info on this on the net.  Just curious to know. If a NBA player makes 20 million a year , minus injury insurance, agent fees, taxes etc., how much does he take home?

I read before some players , like Kobe get most of their salaries before the season ends.  Do other playes get paid biweekly like most people?  Is it for the duration of the nba season or for the whole year?

The real question is,  how do they figure out which one of them pays for the team dinner. =]

I know some sports pay out during the season and many players run out of money before the next season due to a dumb lifestyle.

I guess its hard for us regular joes to get it. But if i even had 10 million dollars of home take money, didn't know jack about investments, didn't trust anyone, all you would have to do is put that money in a regular savings account (3-4 percent interest) and then you could live off the interest yearly for the rest of your life.

Assuming you could find a savings account that paid 3-4% interest.  It's hard to even get close to 1% without a huge minimum balance.....which you would have, of course, if you banked 10 mil, but still - haven't seen 4% interest on a savings account in this century.

You could find CDs with those rates around 2006-2007, but yeah, if you're getting 1% these days you're not doing badly.  But if you were ultra-conservative with investments, and had that much money, you could dump it all into 30-year inflation-protect bonds.  Those have about a 1.5% yield, and also give you additional payments to make up for inflation.  So $10 million in that, at 1.5% interest, gives you $150k per year, plus money to make up for inflation.  Not a way to get super rich, but you should have no problem living off that, and it's very low-risk.  Not what I'd do with $10mil tho.

[Moranis]

This isn't a whole lot different than teachers, which can get paid throughout the entire year or throughout the school year (with no pay in the summer).

[BballTim]

This isn't a whole lot different than teachers, which can get paid throughout the entire year or throughout the school year (with no pay in the summer).

  I've heard they can collect unemployment in the summer, at least in Mass.

[Tr1boy]

Couldn't really find much info on this on the net.  Just curious to know. If a NBA player makes 20 million a year , minus injury insurance, agent fees, taxes etc., how much does he take home?

I read before some players , like Kobe get most of their salaries before the season ends.  Do other playes get paid biweekly like most people?  Is it for the duration of the nba season or for the whole year?

The real question is,  how do they figure out which one of them pays for the team dinner. =]

I know some sports pay out during the season and many players run out of money before the next season due to a dumb lifestyle.

I guess its hard for us regular joes to get it. But if i even had 10 million dollars of home take money, didn't know jack about investments, didn't trust anyone, all you would have to do is put that money in a regular savings account (3-4 percent interest) and then you could live off the interest yearly for the rest of your life.

Assuming you could find a savings account that paid 3-4% interest.  It's hard to even get close to 1% without a huge minimum balance.....which you would have, of course, if you banked 10 mil, but still - haven't seen 4% interest on a savings account in this century.

1 percent?

Usually if you invest millions banks give you one or two percent higher vs putting in 500 dollars in a savings account

[Fafnir]

If the money is an on demand account you're not getting more than 1% in today's finance environment.