When we heard yesterday that Mike Bibby agreed to give up his entire $6.2 million salary for next season in order to be bought out by the Wizards, we posed the following question on Twitter: Is there anything you would give up $6.2 million for? While the answers varied, across the board, people thought Bibby was crazy. But was he? Take a look at exactly how much he would have made next year.
From HOOPSWORLD’s Steve Kyler:
Mike Bibby wouldn’t make $6.2 million next year. Mike is going to lose 10% of that money to the NBA’s escrow system, which insures owners do not pay more than 57% of revenue to players. Players have not seen a return on that money for several years, so lop 10% off the top of that number.
Bibby will then lose roughly 46% to income taxes and professional fees.
When it’s said and done, Bibby may clear $3.02 million next season, assuming there is no work stoppage. If the NBA misses games, that salary number decreases at the rate of $17,500 per day missed to a lockout.
To date, Bibby has earned over $100 million during his 13-year NBA career – and that’s just in salary. At this point, having already played in 80 career playoff games, maybe he just wants a chance to win it all before he’s done.
What do you think?
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