The league may be embroiled in a contentious lockout, but NBA players are still on the verge of getting checks in the mail.
A check of $1,984,400 will be delivered to Lakers guard Kobe Bryant, and Wizards forward Rashard Lewis will see a check of $1,565, 817, according to SheridanHoops, which learned $161 million in escrow funds withheld from players' checks last season will soon go directly into their pockets.
Lakers guard Kobe Bryant will receive a paycheck of $1,984,400 in escrow money withheld from his salary during the NBA season. (AP Photo)
Last year, 8 percent of each player's salary was withheld by the NBA under the escrow tax system, which is a measure to make sure players took in no more than 57 percent of basketball-related income for the
2010-11 season.
Because the amount of salaries paid out by NBA teams fell well below 57 percent of revenue, players are set to receive the withheld money. The league had kept the escrow money for 10 consecutive seasons prior to 2010-11, SheridanHoops reports.
The league sent the NBAPA a stack of 350 checks made payable to NBA players, according to the website. Also included in the money sent over to the NBAPA was an additional $26 million to the players' union to fulfill the 57 percent owed, SheridanHoops reported.
In the middle of a lockout, NBA owners paid out $187 million to the NBAPA and players, while banking on them feeling the pinch when the paychecks stop. Furthermore, SheridanHoops points out many players are paid over a 12-month period and continue to receive pay during the work stoppage.
