Kevin Garnett is arguably one of the greatest players that have played for the Boston Celtics. He has made invaluable contributions to the team during his stay with them and is one of the greatest power forwards of all time.
Garnett has made sure that his legacy at the Celtics won’t be forgotten and has also made sure that he gets paid even after he retired. The Boston Celtics have been paying Garnett $5 million every year even though he retired from professional basketball back in 2016.
Why Celtics reportedly paying Kevin Garnett $5,000,000 a year despite retiring in 2016?
Kevin Garnett made a smart choice during his time at the Celtics; he made sure that he got paid by the franchise even after he had retired. The phenomenon that allows it is called a deferred salary agreement. Kevin Garnett and the Celtics agreed to a deferred salary agreement which was worth $35 million following his retirement from NBA in 2016.
According to this type of contract, the Celtics are supposed to pay Garnett a sum of $35 million over the course of seven years. These types of agreements are common in the professional sports world and helps out the team in salary cap management by spreading the cost of a player over multiple years.
In this case, the agreement was most probably the Celtics’ way of thanking Kevin Garnett for the invaluable contributions he made for the team. He was a key player in the 2008 championship run of the Celtics which made him one of the greatest players in their franchise history.
What is Kevin Garnett net worth in 2023?
Kevin Garnett is a famous name in the world of basketball. The former Celtics star has played for many teams throughout his career and has earned most of his fortune from his professional career, endorsement deals, and other ventures off the court. As of 2023, the net worth of Garnett is calculated to be around $125 million USD per Sportskeeda.
The now-retired Celtics legend has shown his elite basketball prowess during his time as a player to become one of the highest-paid athletes in the sport. Garnett was active from 1995-2016 and has made $28 million in his highest-paid season.
Apart from the huge fortune he made from his playing days, KG has also worked in endorsement deals with big brands like Nike, Addidas, and AND1. Garnett’s skills on the court, fame, and popularity as a one-time champion and one-time MVP have played a part in making him the 2nd highest-paid athlete in the NBA surpassed by the one and only LeBron James himself.
What do you think of Kevin Garnett’s smart decision to make a deferred salary agreement? We are eager to know your thoughts, so drop it down in the comments section and share with us.
