Laughing all the way to the bank?! Carmelo Anthony is making sure he gets what’s due to him. He’s set to receive large portions of his $124 million contract in advance payments — just how much you ask? Check it out…
Via WSJ:
The seven-time All-Star will receive half of his $22.5 million salary this season early. His contract is set up the same way for future years too, meaning that he’ll eventually garner a little over $62 million, half the value of his entire deal, through advance payments. According to collective-bargaining agreement rules, 50% of an annual salary is the maximum a player can take in the form of an advance.
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While the value of Anthony’s advances are unusual, he’s far from the first player to take an annual 50% advance payment. In fact, Knicks swingman J.R. Smith, who is also represented by Anthony’s agent, Leon Rose, did the same thing last summer after signing a three-year deal for nearly $18 million.
