3 Years Before Signing ‘Massive’ $62,000,000/Year Lakers Extension, Anthony Davis Suffered an $821,000 Loss on Westlake Mansion

Anthony Davis has been part of the Los Angeles Lakers for four seasons since joining the franchise in 2019. He signed a new extension contract with the Lakers this year, which will give him $62,000,000 annually in salary. But before coming to Los Angeles, Davis had bought a Westlake Mansion in 2018. And, 3 years before signing the extension deal, Anthony Davis suffered a massive $821,000 loss with the same mansion he bought right before joining the Lakers.

When Anthony Davis joined the Lakers in 2019, he signed a five-year deal worth $190,000,000. This new $186,000,000 extension contract ties Davis with the Lakers until the 2027-28 season. Despite such a lucrative offer, Davis will be only taking home around $24,000,000 from his salary due to the heavy taxes in California.

Anthony Davis just signed the NBA’s richest annual extension (3 years $186 million).

And the will be steep playing in LA:

$62M: Salary
–
$22.9M: Federal Tax
$6M: NBA Escrow
$4.1M: Cali Tax
$1.8M: Agent Fee
$1.8M: Jock Tax
$1.4M: FICA/Medicare
=
$24M: Net Income pic.twitter.com/JhjrGjNWhC

— Andrew Petcash (@AndrewPetcash) August 5, 2023

Notably, this was not the first big blow for AD as before joining the Lakers he learned valuable lessons from his losses.

Anthony Davis once suffered significant losses before signing his $62 million per year contract extension

Anthony Davis is currently being rewarded well for his services to the Los Angeles Lakers. The Lakers’ center might have had some tough times dealing with injuries and missing games. However, the franchise is trying to build a new team around LeBron James and Anthony Davis. This is one of the significant reasons why Davis earned this three-year big-money extension from the Lakers.

But, before joining the team, Davis lost some money because of the move he made. According to The Realtor, in 2018, Davis purchased a trophy home in Westlake Village California for $7,479,000. He bought this property when he was still playing for the New Orleans Pelicans. However, while selling the property, he could only earn $6,600,000 from the sale. This was a total of $821,000 in losses, which perhaps Davis might have heavily regretted.

The property is a 15,815-square-foot residence with five bedrooms, six full bathrooms, and two half bathrooms. It was first built in 1996 and was further expanded and remodeled over the years.

AD bought a $31 million Bel Air mansion after selling his Westlake property

Anthony Davis quickly settled in Los Angeles and bought a $31 million mansion in Bel Air. This was right after he sold his Westlake property, after suffering heavy losses on the same. Davis purchased the property from retired real estate developer, Ted Foxman.

The mansion is located at Bel Air Crest, which consists of roughly 200 homes built in the Mediterranean style. Several celebrities such as Gordon Ramsay, Kathy Griffin, Kim Kardashian, and Kanye West have also lived in this neighborhood.