Giannis Antetokounmpo Reacts To Anthony Davis’ $186M Contract Extension With Lakers

Anthony Davis earned a massive contract extension with the Los Angeles Lakers and Giannis Antetokounmpo couldn’t really help but ask a few tax-related questions.

Davis got the biggest extension in history in annual value after signing a three-year deal worth $186 million.

Who the hell is FICA and Jock can they hoop? https://t.co/2p72jRkpND

— Giannis Antetokounmpo (@Giannis_An34) August 5, 2023

Giannis had an expected reaction to Davis’ annual salary and started the tax discussion once again.

“Who the hell is FICA and Jock,” the Milwaukee Bucks star tweeted. “Can they hoop?”

Antetokounmpo and Davis will both pay a lot after signing big contract extensions

FICA is short for Federal Income Contributions Act. Part of each paycheck in the US goes to Medicare and Social Security. Here comes the fun part. How much do you know about the Jock tax?

“The jock tax is an income tax levied on athletes and other people associated with sports teams earning money outside their home states. The tax has an interesting history,” Kelley R. Taylor from Kiplinger explained.

• In 1991, following the NBA Finals, California assessed state income taxes against the Chicago Bulls (including Michael Jordan), who played the Los Angeles Lakers in the NBA Finals that year.
• What is Michael Jordan’s Revenge?: Illinois then enacted its law, “Michael Jordan’s Revenge,” to tax players who came to Chicago, and other states followed suit.
• The concept was that athletes and staff who earn income while visiting a state should be subject to income tax in that state. The jock tax continues to be a lucrative source of revenue for states that impose it.”

Davis shocked the NBA

California has the highest state income tax rate in the US. AD will pay a lot of money in taxes and Giannis was right about his remark. De’Aaron Fox from the Sacramento Kings shared similar sentiment.

We get taxed in every city/state that we play in. So for example we play 41 home games plus 4 in LA and 2 in SF so 47 games taxed in California 🙃 Those 4 teams obviously get it the worst lol https://t.co/CSWEIGg3LE

— De'Aaron Fox (@swipathefox) August 5, 2023

Davis made a decision to stay in LA and will earn a lot of money as a Lakers player. He will stay on Rob Pelinka’s roster through the 2027-28 season. The Lakers big man had a chance to earn even more, but he chose a good option for him, his agent, and the Lakers front office.

“If anything, this deal is probably more of a win for the Lakers,” explained Jovan Buha of The Athletic on August 4. “Davis would have been eligible for a five-year contract worth upwards of $304 million (basically the same contract as Jaylen Brown) — adding an extra year and increasing the overall salary committed to him.”