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LeBron James Signs A Massive Contract Extension That Could End When His Son Enters The League



LeBron James and the Los Angeles Lakers won the 2020 NBA championship, culminating a most unusual year that finished inside the Disney World bubble. The team and player still have work to do, though, and just agreed to a contract extension.

Per Shams Charania, James signed a maximum deal of two years, $85 million. The extension will keep him in Los Angeles through the 2022-23 season.

When announcing the news, Charania also dropped another interesting tidbit.

By 2023, James’s son, LeBron Jr. (who goes by Bronny), will have graduated high school. He could potentially be playing in the league at the same time as his dad.

Right now, the NBA requires incoming rookies to be at least one year removed from graduating high school. That requirement can be satisfied via a variety of ways, such as a year in college, playing overseas, or playing in the NBA’s G League.

However, the NBA and its players association have considered reverting the rule back to allowing high schoolers to immediately join the league. If that happens, Bronny would be a top pick in the 2023 draft.   

James joined the Lakers in July 2018. He missed the playoffs last season, the first time in eight seasons he hadn’t reached the NBA Finals. But the disappointment turned out to be beneficial for James.

With extra time to rest, James came back looking fresh and focused. Alongside Anthony Davis, he led the Lakers to the top seed in the Western Conference. The Lakers reached the NBA Finals and defeated the Miami Heat in six games. James won his fourth title and fourth Finals MVP award.

James will turn 36 at the end of the month but doesn’t appear to be considering retirement anytime soon. And why should he? He averaged 25.3 points per game this year as he led the league in assists.

If he can win another Finals MVP, he’ll join Michael Jordan as the only player to ever win five Finals MVP awards. And by then, he just may be able to play alongside his son. That would be the ultimate way to cap what’s already been an impressive career.

Douglas P. DeFelice/Getty Images

Source: Celebrity Net Worth

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One Day After LeBron Signed A New Deal, Anthony Davis Agrees To A Max Contract



Looks like the Los Angeles Lakers will be among the title favorites for the next few years. Just one day after the team and LeBron James agreed to a two-year, $85 million deal, the reigning champs announced they’re signing Anthony Davis to a maximum contract.

According to ESPN’s Adrian Wojnarowski, Davis and the Lakers are finalizing a five-year, $190 million deal. The contract also includes an early termination option before the fifth year.

It’s crazy to think a $190 million contract could be a “bargain,” but it might play out that way. Davis turned 27 this year and could have reasonably signed a similar deal to James, who will become a free agent in the 2022 offseason.

At that point, Davis would be 29 and could sign a max salary that started at 35% of the salary cap. Instead, he’s signing for 30% of the salary cap. In essence, he’s taking a pay cut for additional job security. 

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Had he done a two-year deal, Davis could have re-signed with a starting salary of more than $40.5 million for the 2022-23 season. He’ll make just under $38 million that season in this five-year deal. That’s still plenty of money, but Davis is likely leaving an additional $10 to $15 million on the table from 2022 to 2025. There’s also no guarantee he’ll find a max deal when this contract is up. By then, he’ll be 32 years old. If his productivity drops a fair amount, he may not receive as extravagant of an offer.

Here’s a look at how much Davis will make in each season:

2020-21: $32,742,000

2021-22: $35,361,360

2022-23: $37,980,720

2023-24: $40,600,080

2024-25 (with an early termination option): $43,219,440

The Lakers also gave themselves a bit of a cushion, too. Having Davis around for the long haul could help James or other free agents sign in the next couple of years. 

Now, Davis will work on bringing more titles to L.A. — and adding to his legacy in the process.

Source: Celebrity Net Worth

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Billie Lourd Welcomes Son, Undertakes Massive Home Renovation Of Carrie Fisher And Debbie Reynolds’ Houses



Billie Lourd, daughter of Carrie Fisher and granddaughter of Debbie Reynolds had a lot to deal with back in December 2016, when her mother and grandmother passed away within a day of each other. She is Hollywood royalty by way of her family and inherited her mom and grandma’s houses in Beverly Hills, which are located next door to each other. The side-by-side estates were put up for sale in 2017 as a single 3.5-acre estate. Now it’s been revealed that the 28-year-old actress and star of “American Horror Story” did not only not sell the estate but she’s decided to renovate it to make room for her family. Oh, by the way, Lourd surprised the world this fall when she announced the birth of her first child, a son named Kingston. She had not announced her pregnancy. Her fiancé Austen Rydell is the father of Kingston.

Lourd has not revealed her exact plans for the estate beyond the fact that the bohemian, iconic features of her mother’s home, where Lourd grew up, will in all likelihood be preserved. It is believed that she is updating the properties to turn them into one enormous estate for herself, Rydell, and Kingston. Fisher’s house is decorated in a very eclectic, bohemian manner and includes a large stained glass window depicting Billie as a saint. Fisher’s aviary and an old water fountain in the gardens will also be preserved.

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The estates are absolutely covered with trees and greenery and have a tennis court and pool. The homes also have a long and storied history beyond Lourd’s family. The home was built by actor Robert Armstrong in 1919. He played the captain who delivered the line “It was beauty that killed the beast” in “King Kong.” Bette Davis lived in the home for a bit. Then it was purchased by famed costume designer Edith Head in 1933 and she renovated and rebuilt the home. Carrie Fisher purchased the home in 1993 for $13.75 million. In 2000, Reynolds moved into the three-bedroom house next door. She bought it for $1 million.

Fisher had a number of eclectic decorations, including a Christmas tree with a Darth Vader ornament that Fisher kept up all year. A number of Fisher’s belongings were auctioned off in the fall of 2017. However, Lourd posted a video in 2018 as a tribute to her mom that featured the Christmas tree still up and in the house.

Lourd has her hands full between the renovation, planning her wedding, and caring for her newborn son Kingston. Rydell and Lourd have been engaged since June 2020. Kingston was born in September. Lourd announced his birth with an Instagram post featuring her son in a “Star Wars” inspired outfit.

Source: Celebrity Net Worth

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The Biggest Financial Winners and Losers From The NBA Draft



Typically, the NBA Draft happens less than a month after the playoffs finish. After that, we have a long summer that includes free agency, the NBA Summer League for rookies and other young players, and training camps as teams head into the pre-season. 

This year, due to the COVID-19 pandemic, the NBA Draft did happen soon after the conclusion of the NBA Finals. However, all of those other summer activities are being compacted into five weeks, with the season set to start on December 22.

As the rookies get acclimated to their new teams, let’s take a look at the biggest winners and losers, strictly from a financial perspective.     


Anthony Edwards

The number one pick in a draft always comes with lofty expectations, but it also comes with the biggest paycheck. Anthony Edwards was never a sure bet for the top spot, but the Minnesota Timberwolves thought he was the best fit in the draft.

Rookie salaries are set on a sliding scale. Here’s how it typically looks for first-round picks: The first three years steadily increase and are tied to a percentage of the salary cap and are impacted by where the player is drafted. The fourth year option is a percentage increase over the third season, and then teams have a qualifying offer for a fifth season. That fifth year is a certain percentage increase over the fourth year.

Players can also sign for up to 120% or for as little as 80% of the sliding scale. Every contract can look different, but most lottery picks (and many first-rounders) often sign for 120% so teams and players can get off on the right foot.

In Edwards’ case, his fourth-year option and qualifying offers are actually the smallest in terms of percentage increase. But he’s making more than anyone else, so the percentage difference isn’t as big a deal.

Assuming he signs for 120% of the sliding scale, in his first four seasons, Edwards will make $43.3 million. For comparison, LeBron James signed a four-year deal in 2003 with the Cleveland Cavaliers for less than half of that, at just $18 million. James has done okay for himself since then, so don’t feel too badly. 

Patrick Williams

Patrick Williams averaged just 9.2 points and 4.0 rebounds in college, coming off the bench for the Florida State Seminoles. Those aren’t typical numbers of a star, but at the No. 4 spot of the draft, the Chicago Bulls were going for potential.

If Williams can improve his shooting (he connected on 32% of his threes in college), he projects to be a solid 3-and-D player. He’s also the youngest player in the entire draft, so he theoretically has the most time to blossom. Along the way, he’ll earn $32.1 million during his first four seasons. 

Top overall pick Anthony Edwards (Carmen Mandato/Getty Images)

Cole Anthony

Coming into the year, Anthony was regarded as one of the top college players. However, thanks to injuries and a down season for North Carolina, Anthony’s stock slid throughout the year. The Orlando Magic took him with the 15th pick, which is perhaps still a bit higher than some of the mock drafts had him, so he got a bump in salary that way.

But the other reason Anthony is a financial winner? The fact that Florida doesn’t have any state income tax. Anthony’s rookie deal will likely be for $15.9 million over four seasons. Compare his situation with Aaron Nesmith, who was taken one spot above Anthony by the Boston Celtics. They’ll each pay 37 percent in federal tax, as well as accompanying “jock taxes” and other agent fees. But Nesmith will also lose 5%, about $520,000, of his income in state taxes. That’s a significant chunk of change that Anthony will get to hold onto.

Plus, as far as we know, Anthony is the only player that got to party with Spike Lee on draft night. Hanging out with Lee is a cool bonus.

Josh Green

Arizona’s Josh Green was generally considered a top 25 prospect in this year’s draft, but the Dallas Mavericks took him at No. 18. He’ll make $13.6 million in his rookie deal, though he’ll also benefit from the same situation as Anthony.

Texas also doesn’t have state income tax, so Green won’t have to pay that additional money in taxes. The league is also looking at a possibly weighted schedule for the upcoming season, which will only be 72 games. The Mavericks could end up playing their division foes, the Spurs and Rockets, more than four times. That weighted schedule would mean a smaller jock tax for Green, as well.


James Wiseman

Wiseman isn’t here because he went No. 2 when he could have potentially been selected No. 1. Rather, it’s the team he ended up on. The Golden State Warriors moved from Oakland to San Francisco, but they’re still in California. That means Wiseman will pay 13.3% in state income tax. Combined with his federal tax, he’ll lose more than half of his $39.6 million contract to taxes.

On top of that, the Warriors share a division with the Kings, Clippers, and Lakers. That’s an extra six California games at minimum, and potentially more, depending on how the schedule shakes out. And that means a higher luxury tax for Wiseman.

Malachi Flynn

The former San Diego State guard is already 22 years old, which made some teams hesitant to take him. As a result, a top 20 talent fell to the bottom of the first round, where the Toronto Raptors snagged Flynn at No. 29.

Had he been taken with the 20th pick, Flynn would project to make $12.5 million his first four seasons in the league. Instead, he’ll make $10 million over four years.

What’s more, he ended up in Toronto, which has the highest state income tax in the entire league. The highest tax bracket in Canada pays 33%, and the highest tax bracket for Ontario residents pays an additional 20.53%. Flynn will only take home about $4.6 million from his rookie contract. 

There’s good news for Flynn, though. He’s in a solid situation — he’ll almost always have a solid backcourt mate in Kyle Lowry or Fred VanVleet, and the timing works out that he could replace Lowry after his rookie deal ends. That would likely include a big payday for Flynn.

Golden State Warriors

The same day of the NBA Draft, Klay Thompson suffered a season-ending Achilles injury. It’s a devastating injury for anyone, but especially for someone that cuts and moves around the court as much as Thompson does.

Instead of trading their pick or using it to take a shooter (which would have been a reach at the No. 2 spot), the Warriors selected a big man in Wiseman. As a result, they spent a trade exception to acquire Kelly Oubre Jr. Thanks to the luxury tax, an NBA rule that forces teams to spend additional money for every dollar above the salary cap, the Warriors will pay $82 million simply to roster Oubre Jr. next season.

It’s not an ideal situation at all, but the timing of the injury was so close to the draft the Warriors likely didn’t have time to adjust. And it’ll cost them a ton of money.

Source: Celebrity Net Worth

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