Kevin Garnett’s involvement in the Labor Negotiations a few weeks ago was highly publicized. He reportedly went in on behalf of the Union and told
the Owners that the 50-50 deal they were offering on October 4th was not acceptable to the players. While there is no truth to the rumor that he gave them the Ben Gordon sidelines treatment in the process, it is true that since then the Owners canceled a whole bunch of games, as well a whole bunch of paychecks.
As opposed to the guys who broke into the League as free agents rookies last season trying to play their way into real NBA money, or First Round draft picks from this past June awaiting their first NBA payday of any sort, KG looks to be okay financially should the NBA Lockout this entire season. If there are no games, it appears Garnett will simply sit around and wait for the $35 million he’s due just as soon as he retires.
This from NBA.com’s Steve Ashburner (via Red’s Army):
In 16 NBA seasons, Garnett has made more than $300 million (including endorsements), so he’s not exactly living check to check. Some felt that Garnett — with a $21.2 million salary for 2011-12 at the end of what will be his last mega-contract — was putting his mouth where his money was. Others felt that, considering the deferred money due him, the 7-footer wasn’t exactly at risk of bagging groceries in his 40s.
In fact, Garnett’s self-funded pension (apart from his NBPA one) will be pretty plush. Two sources told NBA.com that the Celtics forward will still have $35 million coming after he retires. He’ll be due $5 million annually for seven years, the result of deferred salary Garnett and agent Andy Miller got in each of his last two contract extensions. Whatever portion is due from this season might be affected by games lost to the lockout, but it’s not as if Garnett’s financial spigot gets turned off next spring.
I suppose anything is possible afterall. Five million a year for doing nothing is incredible, and I’m so incredibly jealous of Garnett just reading through these numbers. Three hundred million made with thirty-five million deferred? If this Lockout goes on much longer KG should just start giving money to guys. He can start with Ty Lawson too, get that kid back to Denver. He doesn’t deserve that grief he’s getting over there in Lithuanian.
What’s also interesting about this is that KG’s hard-line stance was initially applauded by NBA players because he was a guy with “the most to lose” during a season lost to the Lockout. Since he was one of the highest paid players in the game (at $21 million this season) he had the highest amount of money to forfeit should the players not accept a deal – like he helped them not do on October 4th. I wonder though, once these numbers start making their way to guys who are broke or close to broke, what the reaction would be then.
—
Photo: therichest.org
