Lionel Messi is all set to live in the USA after he agreed to join Inter Miami. Of course, given how he is arguably the GOAT of the soccer world, his presence will demand a massive paycheck. And sure enough, he has now been anointed as the highest-paid athlete on US soil. He beat self-made Billionaires LeBron James and Tiger Woods for the honor, as per Forbes. However, it’s not all good news for the former Barcelona star. Coming to Miami, he is about to lose $1,640,000 of his $55 Million paycheck, all because of Michael Jordan.
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Michael Jordan probably loved Messi more than any fan of the Argentinian. And no, it’s not because he is an avid fan of the sport. After all, who could pry him away from golf for more than five minutes? No, His Airness loved the man signing with PSG a few years ago because it netted him an incredible payday. You can read all the details of how that happened right here. However, unfortunately for ‘Leo’, the GOAT of basketball couldn’t seem to return the favor.
Lionel Messi is set to lose a hefty amount of money to taxes due to a rule set because of Michael Jordan
Lionel Messi has earned quite a bit of money throughout his career. But, something many tend to forget is that he has had multiple cases of tax fraud too. Given how tight and unforgiving the system in the US is, he has likely abandoned all hopes of dodging any expense. And admittedly, there are a lot of expenses. Take a look at the tweet by Andrew Petcash below.
Lionel Messi is set to be the highest-paid athlete on US soil.
And his taxes will be steep: 👀
$55M: Salary
–
$20.35M: Federal Tax
$0: Florida Tax
$0: Agent Fee
$1.64M: Jock Tax
$1.29M: FICA/Medicare
=
$31.7M: Net Income pic.twitter.com/OAROpZtzl7— Andrew Petcash (@AndrewPetcash) June 20, 2023
Out of all his expenses, the Jock Tax is the most peculiar. It was a rule that was set in place in 1991, something that was made highly popular by Michael Jordan.
The Jock tax refers to a tax levied on well-known personalities, primarily in the world of sport, whose jobs and salaries are public. Additionally, it is levied when these same athletes earn high amounts of income from outside their home state. This is a rule that came about in the 1960s. However, it was only enforced and popularized in 1991, when the Bulls beat the Lakers in the NBA Finals. MJ was sent a $10,000 tax notice after winning his first championship.
When the Bulls traveled to Los Angeles to play a game, all Bulls entities were forced to pay the Jock Tax by the State of California. In retaliation, the state of Illinois did the same to the Lakers. And after watching this play out, almost every state in the United States followed suit. Today, only the states of Florida, Nevada, Texas, Washington, and Tennessee don’t levy a Jock tax. since they don’t levy personal income tax either. Though, it must be noted that Columbia has been prohibited by the US parliament from leaving a jock tax on any non-resident workers too.
So, for Messi, who infamously will go to long lengths to keep his money, we can’t imagine Jordan is the greatest pal. However, frankly, the silver lining to be taken here is well worth the misfortune suffered.
Messi overtook LeBron James and Tiger Woods from the moment he stepped on US soil
During this upcoming NBA season (2023-24), LeBron James will earn $46,900,000. Tiger Woods’s income, while difficult to track, is also expected to be in the same region.
These are two athletes who have established themselves as superstars in the United States, and one of the greats in their respective sports, if not the greatest. And yet, from his first day on US soil, Messi is set to earn higher, at $55,000,000 from just his contract with Inter Miami.
And once sponsorships, endorsements, and the stake of ownership he will be receiving is accounted for, there remains something akin to no comparison whatsoever.
