Live broadcast, July 27 today, Celtic and Jay Brown signed an early renewal contract.
According to Jay Lenn’s agent, his client and Celtics reached a super top-salary contract of $0.304 billion in 5 years, which was fully guaranteed and included a trading margin, which was also the largest contract in NBA history.
Reporter Andrew Petcash posted a list of the tax distribution, related expenses and net income of the Jay’s contract:
Average annual salary: $60.8 million;
Federal tax: $22.5 million;
NBA third-party hosting: $6 million;
Broker fee: $1.8 million;
Federal Social Security and medical insurance/federal medical insurance: $1.4 million;
Jock tax (levied on professional athletes): $1.8 million;
Massachusetts state tax: $2.7 million;
Net income: $24.6 million.
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