Knicks Took Advantage Of An NBA Rule To Make Carmelo Anthony's New Contract Even More Valuable
Jason Merritt/Getty Images
In addition to signing a 5-year, $124.1 million deal with the Knicks, Anthony will also receive half of his salary up front each year according to Chris Herring of the Wall Street Journal.
This is the maximum allowable under NBA rules and will ultimately increase the value of the contract by taking advantage of earlier interest. Anthony is set to make $22.5 million in his first year and will receive approximately $11.25 million up front.
Anthony's new contract was already worth $28 million more than what other teams were able to offer. The Los Angeles Lakers were able to offer a 4-year contract worth $96 million. However, the Lakers were never considered a serious threat with Anthony ultimately deciding between the Knicks and the Bulls.
The Bulls were only able to offer $73 million over four years. However, that may have gone up to as much as $87 million depending on which contracts they would have been able to trade away.
After re-signing with the Knicks, Anthony said he didn't care about the money. But in the end, it was probably just too much money to turn down.
BusinessInsider.com
- Should you be worried about the potential side-effects of the Covishield vaccine?
- India T20 World Cup squad: KulCha back on menu, KL Rahul dropped
- Sales of homes priced over ₹4 crore rise 10% in Jan-Mar in top 7 cities: CBRE
- Gold prices fluctuate as geopolitical tensions ease; US Fed meeting, payroll data to affect prices this week
- Best beaches to visit in Goa in 2024
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market