Carmelo Anthony is defending Odell Beckham Jr. after a $100 million lawsuit
Most recently, ex-NFL wide receiver Odell Beckham Jr. said that a five-year, $100 million contract would be difficult to last, and another New York legend, former Knicks star Carmelo Anthonyhe understands what he is saying.
During a recent episode of his 7pm podcast in Brooklyn, which featured one of his Knicks teammates, JR Smith, Anthony discussed how taxes take a large part of your contract. Not to mention other costs of living, especially in big markets like New York.
“It’s $100 million,” he admitted, “but it’s not really $100 million over a five-year period. You’re talking about 58% to 60% or 48%, half (of) your (tax) check, so 10 goes to five over five years. Now, within that five, you have other taxes that you have to pay yourself. You, boom, can’t do anything about it.
“Then you (have) to live. You (have) to get a house, you’re going to take care of your mothers, you (have) your commission, so you’ve got all this s**o going on within that $5 million,” he continued.
Anthony admitted that you still “have to change your lifestyle” when you get a contract of this size. But still, “your lifestyle changes drastically and that drastic lifestyle change makes you psychologically nervous. It’s a gray area that a lot of athletes screw up.”
So, going forward, future star athletes should take Anthony and Beckham’s warnings to heart when going pro. If you don’t, you could end up wasting all your money.
Odell Beckham Jr. he signed big contracts during his NFL career
During his NFL career, Beckham had a lot of money. He was a first-round pick in the 2014 draft, so he got a hefty contract upon entering the league.
He then signed a five-year, $95 million contract with the New York Giants during the 2018 offseason. Beckham was traded to the Cleveland Browns before being released during the 2021 season. He has since played with the Los Angeles Rams, Baltimore Ravens and, most recently, the Miami Dolphins.
2025-12-09 16:01:00
