Anthony Davis Losing $6,000,000 From His Contract Doesn’t Have De’Aaron Fox Too Worried: “9 Times Out Of 10 You Get The Escrow Back”

Anthony Davis recently signed a 3-year, $186 million extension with the LA Lakers, meaning that he will be earning an average of over $60 million per season. Despite the Lakers signing other players to big contracts as well, such as Austin Reaves, and his $53 million over 4 years, Davis is now among the richest in NBA history. Unfortunately, that also means that his taxes will be far higher than ever before, with the big man now set to lose $6,000,000. However, despite the massive figure, Kings star De’Aaron Fox isn’t too worried about his fellow NBA player.

Lakers legend Shaquille O’Neal recently spoke about how shocked he was by the massive contracts dished out today. The big man highlighted the fact that Davis’s average salary will now be higher than the Miami Heat’s salary cap during the 2013-14 NBA season. He said the following via a post he reposted on his Instagram story.

“$59,000,000 2014 Salary Cap, $62,000,000 Anthony Davis’s Annual Salary”

Salaries are indeed beyond shocking these days. However, with NBA teams’ salary caps expected to rise with the NBA signing a new broadcasting deal, this was bound to happen.

De’Aaron Fox says Anthony Davis is bound to get his money back through ‘escrow’

After Anthony Davis signed his bumper deal, many began to speculate how much he would be forced to pay in taxes. Making an estimate for the same, here is what Andrew Petcash tweeted out.

Petcash believes Davis will have to pay out $6,000,000 in taxes, a frightening figure, to say the least. However, De’Aaron Fox quickly responded on Twitter. Here is his tweet.

“9 times out 10 you get the escrow back but still”

Clearly, Fox feels for the Lakers center. However, as he reveals, Davis is indeed bound to get some of it back through NBA escrow. Explaining what NBA escrows are and how they work, here is what ‘AllAboutCareers.com‘ wrote.

“The NBA Escrow System is a mechanism used to ensure that players receive a fair share of Basketball-Related Income (BRI) as defined in the Collective Bargaining Agreement (CBA) between the NBA and the National Basketball Players Association (NBPA).

NBA escrow operates by creating a reserve fund, known as an escrow fund. During the NBA season, a percentage of players’ salaries is withheld and deposited into this fund. At the end of the season, the revenue the league generates from the BRI is accurately calculated.”

Fortunately for Davis, he will not have to worry about losing $6,000,000. However, since both he and Fox are residents of California, a state notorious for its incredibly high taxes, they will suffer badly, nevertheless.

Giannis Antetokounmpo was oblivious to the kind of taxes NBA players pay

The Greek Freak has been in the NBA for 10 years now, so many would expect the man to know about the kind of taxes he is forced to pay. However, the Bucks superstar recently revealed that he was completely oblivious to the matter. Reacting to Andrew Petcash’s estimate of the taxes ‘AD’ will be paying, he tweeted out the following.

Of course, the tweet is meant to be humorous. However, it is likely that there is also a sense of annoyance laced in the tweet as well. After all, who wouldn’t be annoyed about their colleague being forced to give away that much money?