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2021 NBA free agency is right around the corner, so fans and analysts have started calculating salaries and NBA teams' cap situations.
The highest-paid NBA players are some of the most gifted and talented bunch of basketball players in the world. These players operate in a different echelon than the rest of the NBA as they are generational players who affect the outcome of games and the season at large.
The NBA also justifies paying so much to these players because they are must-see television and generate millions in viewership.
Stephen Curry draws the largest salary of any NBA player
Stephen Curry will draw a salary of $43,006,362 for the 2020-21 NBA season. His $43 million paycheck is a whopping $1.7 million higher than the second person on the list (Russell Westbrook - $41.3M).
Curry has been the NBA's most-viewed player for the past six years. He is always amongst the top 5 in jersey sales and several analysts will reiterate that he is the must-watch TV as one will never know what he dares to do on the court. His long-range threes gets the crowd erupting and gasping in disbelief as he breaks ankles and takes shots that most players wouldn't dream of.
He was signed to a $201 million deal in 2017 and even then several people commented that the amount was too less for a once-in-a-million player who has changed the landscape of the game. LeBron James said at the time that Curry's deal should be "twice as big."
Just about every NBA player falls into the highest federal tax bracket, paying approximately 37% of their salaries to the United States government. Moreover, Curry plays and resides in the state of California known for the highest income tax in the country. The state requires its citizens to pay up to 12.3% of their salaries in addition to federal tax.
Additionally, NBA players pay jock taxes and agent fees. The jock tax is for people working across multiple states and the tax depends on which state you are based off.
Also, NBA players generally pay 3% of their salaries to their agents as the NBPA (National Basketball Players Association) doesn't allow agents to take more than 4%. Lastly, NBA players invest in their 401k accounts. The highest amount that can be paid is $19,500 and the NBA matches 140% of it.
Therefore, after federal and state taxes, jock tax, agent fees and 401k investments, the average NBA player takes home roughly 56% of their starting salary.
Stephen Curry, in fact, will be the highest-paid player next season as well. He will get paid $45 million for the 2021-22 NBA season, $1.4 million higher than the second player on the list for next year. He is expected to sign a massive deal in the upcoming offseason worth nearly $215 million.
Curry is the face of the Golden State Warriors franchise and has generated NBA fans from all around the world. He is clearly the most beloved Bay Area athlete and several polls have proven that the fanbase loves him like no other player. It is almost unfathomable to imagine Curry playing for another team and he will likely sign an extension deal this summer.
Also Read: 3 Largest contract extensions likely to be signed in the 2021 NBA offseason
