Are the Los Angeles Lakers getting the shorter end of the stick despite their most recent accomplishment? As many NBA fans should certainly be aware, LeBron James and Anthony Davis managed to lead their team to win the first-ever In-Season tournament.
The IST was a new concept that was introduced for the first time this season. It might be fair to say that stars from across the league enjoyed participating in the tournament. After all, a tournament cup, MVP award, and prize money were up for grabs.
As we all know, the Lakers managed to defeat the Indiana Pacers in the In-Season Tournament and are now owed $500,000. Although they will not be cheated out of their money, recent reports reveal that all the members of the roster will not be able to spend their full prize money. Since this could certainly confuse NBA fans, let us take a closer look and find out more.The Los Angeles Lakers might only be awarded $231,000 after taxes
It turns out that more than half of the $500,000 prize money that the Lakers stars expected to receive will be deducted due to taxes. While the same might have occurred for whichever team ended up winning the tournament, California taxes are significantly higher when compared to other places in the United States.
If the Lakers win the in season tournament each player will gross $500,000
After federal tax, California taxes and payroll taxes the players will take home approximately $231,000. 😥 pic.twitter.com/2PSsZ29aSj
— SAY CHEESE! 👄🧀 (@SaycheeseDGTL) December 10, 2023
When we add federal tax and payroll taxes and deduct all the taxes from the $500,000, the members on the Los Angeles Lakers roster and coaching are expected to be paid only around $231,000. Upon finding out that more than half of the money would be spent on taxes, fans didn’t seem too thrilled.
Damn. Taxes take the fun out of everything
— GIFT (@Giftaveli) December 10, 2023
While not getting paid the full amount will not have any effect on the lives of stars such as Anthony Davis, there is no denying that the other role players on the Lakers with much smaller contracts have been affected the most by these taxes.
Although there is nothing that the Lakers can do about it, this isn’t something to feel very frustrated about. After all, making $230,000 over a few games must certainly be better than making nothing. In any case, the league offers these players contracts hoping that they take factors such as tax into consideration.