Jaylen Brown will only earn $24 million a year out of $60 million annual salary, after taxes are taken out

Jaylen Brown only set to earn $24 million of $60 million salary

Jaylen Brown signed the biggest contract in NBA history, today. In 2016, he was drafted by the Boston Celtics. Following some years of upheaval, the Celtics finally built around Brown and Jayson Tatum. In the 2022 season, there were questions of who the team’s leader was. Many have equal arguments for Brown and Tatum. This afternoon, Brown became the highest paid player in NBA history, signing a five year contract at $304 million. However, things are not as they seem.

Jaylen Brown was already a very wealthy man. After signing that huge contract extension, Brown is now one of the wealthiest men on Earth. A five year contract that’s worth $304 million means Brown would make around $60 million a year. Earnings like those are more than most companies make. As a result, it’s possible for Brown to make some kinds of Forbes lists. It turns out, there is a little more to this story, however.

Jaylen Brown signed a five year, $304 million deal, which means he’s earning roughly $60 million a year. However, he also has to pay his taxes, starting with the government. Federal taxes, alone, take $22 million a year from Brown. After that, he pays $2.7 million to Massachusetts in taxes. Other fees, including league fees, healthcare, and insurance take the bulk of the annual earnings. As a result, he’s left with $24 million a year.

Source: SayCheese

Jaylen Brown only set to earn $24 million of $60 million salary