Boston Celtics Have Reportedly Been Paying Former Player $5 Million Per Year

https://www.si.com/fannation/nba/fastbreak/news/boston-celtics-reportedly-paid-former-player-5-million-per-year-kevin-garnett



Boston Celtics Have Reportedly Been Paying Former Player $5 Million Per Year



The Boston Celtics have reportedly paid NBA Champion Kevin Garnett $5 million annually since he retired.


BEN STINAROCT 11, 2023 6:14 PM EDT



Kevin Garnett is one of the best players in the history of the NBA.

The 47-year-old retired from the league in 2016, and he was a first-ballot Hall of Famer (2020).

Despite being out of the NBA for so long, Garnett has reportedly been getting paid $5 million per year by the Boston Celtics.

According to NBC Sports (who cited Steve Aschburner in 2011), Garnett had a deal set up with the Celtics where some of his salary would be deferred, and he would be paid $35 million over seven years (following his retirement from the NBA which was in 2016).


Via NBA Retweet: "Kevin Garnett retired from the NBA in 2016, but set up his deal with the Celtics so that he’d get paid $5 million every year until 2024.

Smart. "



Garnett was initially the fifth pick in the 1995 NBA Draft out of high school and spent the first 12 seasons of his career with the Minnesota Timberwolves.

He was traded to the Celtics before the 2007-08 season and helped them win the NBA Championship over Kobe Bryant and the Los Angeles Lakers.

Following six years with the Celtics, the 15-time All-Star then played part of two seasons with the Brooklyn Nets before finishing his career with the Timberwolves.


His career averages are 17.8 points, 10.0 rebounds, 3.7 assists, 1.3 steals and 1.4 blocks per contest while shooting 49.7% from the field in 1,462 regular season games.

The 2004 MVP also appeared in an astonishing 143 NBA playoff games and made the Finals twice (2008 and 2010).


Bob


.

bobheckler wrote:https://www.si.com/fannation/nba/fastbreak/news/boston-celtics-reportedly-paid-former-player-5-million-per-year-kevin-garnett



Boston Celtics Have Reportedly Been Paying Former Player $5 Million Per Year



The Boston Celtics have reportedly paid NBA Champion Kevin Garnett $5 million annually since he retired.


BEN STINAROCT 11, 2023 6:14 PM EDT



Kevin Garnett is one of the best players in the history of the NBA.

The 47-year-old retired from the league in 2016, and he was a first-ballot Hall of Famer (2020).

Despite being out of the NBA for so long, Garnett has reportedly been getting paid $5 million per year by the Boston Celtics.

According to NBC Sports (who cited Steve Aschburner in 2011), Garnett had a deal set up with the Celtics where some of his salary would be deferred, and he would be paid $35 million over seven years (following his retirement from the NBA which was in 2016).


Via NBA Retweet: "Kevin Garnett retired from the NBA in 2016, but set up his deal with the Celtics so that he’d get paid $5 million every year until 2024.

Smart. "



Garnett was initially the fifth pick in the 1995 NBA Draft out of high school and spent the first 12 seasons of his career with the Minnesota Timberwolves.

He was traded to the Celtics before the 2007-08 season and helped them win the NBA Championship over Kobe Bryant and the Los Angeles Lakers.  

Following six years with the Celtics, the 15-time All-Star then played part of two seasons with the Brooklyn Nets before finishing his career with the Timberwolves.


His career averages are 17.8 points, 10.0 rebounds, 3.7 assists, 1.3 steals and 1.4 blocks per contest while shooting 49.7% from the field in 1,462 regular season games.

The 2004 MVP also appeared in an astonishing 143 NBA playoff games and made the Finals twice (2008 and 2010).  


Bob


.

Seems like bad financial advice. Five million is "worth" less now than it was 10 years ago, never mind that he missed return on even conservative investments.