Olympic Qualifiers Results: Brazil, Spain, Greece and Puerto Rico Off to Paris!

[realball]

The highest paid Euroleague player makes like $4 million. Vezenkov is signed for nearly $7 million this year, and has a team option $7 million next year (likely not going to be picked up).

Nikola Mirotic makes €12.5 million euros per season (€10 million euros from Barca and €2.5 million euros from Milano). That is $13.15 million US dollars per season. If you figure in the tax differences, it's actually quite a bit more than that in how the NBA would count it. He's the highest paid player in Europe.

Olympiacos has offered Vezenkov a contract that is equal to $53.5 million US dollars over 5 years in NBA money. $53.5 million is a lot more than $7 million. He doesn't care one bit about that money.

Larkin I believe is the highest player now, after Mirotic's contract with Barca was bought out. His effective salary is $2.5 million from Milano.

If Vezenkov didn't care about the money, he would have left for Greece already. He's not going to get a better role in the NBA, his season with the Kings proved that he does have what it takes to cut it in the league. He's too slow for a SF and too small for a PF, and his shooting isn't good enough to compensate.

[Mirotic12]

Larkin I believe is the highest player now, after Mirotic's contract with Barca was bought out. His effective salary is $2.5 million from Milano.

Mirotic's contract was fully guaranteed and Barca had to pay him all of his money, regardless of if they came to an agreement on him leaving the team or not. They paid him the full €10 million euros gross salary this season.

Also, Mirotic's salary in Milano is €2.5 million euros net income. The reported and listed salaries for players in Europe are the net income salaries. We only got Mirotic's gross salary from Barca, because it was so big.

The listed salaries of players in Europe are the amount of pay the players receive AFTER all taxes, agent fees, deductions, union fees and dues, retirement fund fees, etc., are already paid.

€2.5 million euros net income (Mirotic's Milano salary) equals about $7.5 million US dollars in gross income. NBA contracts are always listed in the gross income amount (BEFORE all taxes, agent fees, deductions, etc.) So that means that Mirotic is making the equivalent of a $7.5 million gross per season NBA salary with Milano.

Shane Larkin makes way more than an NBA $2.5 million salary (gross income) in Europe. He makes $4 million dollars in net income in Europe. That's equal to about $11 million gross per season in the NBA. Lots of players in Europe make more than what is a $2.5 million gross NBA salary.

In fact, currently, the average EuroLeague salary is $1.5 million US dollars gross. That is the average salary.

[realball]

Larkin I believe is the highest player now, after Mirotic's contract with Barca was bought out. His effective salary is $2.5 million from Milano.

Mirotic's contract was fully guaranteed and Barca had to pay him all of his money, regardless of if they came to an agreement on him leaving the team or not. They paid him the full 10 million euros gross salary this season.

Also, Mirotic's salary in Milano is €2.5 million euros net income. The reported and listed salaries for players in Europe are the net income salaries. We only got Mirotic's gross salary from Barca, because it was go big.

The listed salaries of players in Europe are the amount of pay the players receive AFTER all taxes, agent fees, deductions, union fees and dues, retirement fund fees, etc., are already paid.

€2.5 million euros net income (Mirotic's Milano salary) equals about $7.4 million US dollars in gross income. NBA contracts are always listed in the gross income amount (BEFORE all taxes, agent fees, deductions, etc.) So that means that Mirotic is making the equivalent of a $7.4 million gross per season NBA salary with Milano.

Shane Larkin makes way more than an NBA $2.5 million salary (gross income) in Europe. He makes $4 million dollars in net income in Europe. That's equal to about $10.6 million gross per season in the NBA. Lots of players in Europe make more than what is a $2.5 million gross NBA salary.

In fact, currently, the average EuroLeague salary is $1.5 million US dollars gross. That is the average salary.

Where exactly are you getting these numbers? The Euro is worth 1.09 USD. I would love to see how you're calculating this, because from everything I've seen online, nothing you are saying can be verified.

And like I mentioned previously, you don't count bought salaries as a player's current salary.

[Mirotic12]

Larkin I believe is the highest player now, after Mirotic's contract with Barca was bought out. His effective salary is $2.5 million from Milano.

Mirotic's contract was fully guaranteed and Barca had to pay him all of his money, regardless of if they came to an agreement on him leaving the team or not. They paid him the full 10 million euros gross salary this season.

Also, Mirotic's salary in Milano is €2.5 million euros net income. The reported and listed salaries for players in Europe are the net income salaries. We only got Mirotic's gross salary from Barca, because it was go big.

The listed salaries of players in Europe are the amount of pay the players receive AFTER all taxes, agent fees, deductions, union fees and dues, retirement fund fees, etc., are already paid.

€2.5 million euros net income (Mirotic's Milano salary) equals about $7.4 million US dollars in gross income. NBA contracts are always listed in the gross income amount (BEFORE all taxes, agent fees, deductions, etc.) So that means that Mirotic is making the equivalent of a $7.4 million gross per season NBA salary with Milano.

Shane Larkin makes way more than an NBA $2.5 million salary (gross income) in Europe. He makes $4 million dollars in net income in Europe. That's equal to about $10.6 million gross per season in the NBA. Lots of players in Europe make more than what is a $2.5 million gross NBA salary.

In fact, currently, the average EuroLeague salary is $1.5 million US dollars gross. That is the average salary.

Where exactly are you getting these numbers? The Euro is worth 1.09 USD. I would love to see how you're calculating this, because from everything I've seen online, nothing you are saying can be verified.

And like I mentioned previously, you don't count bought salaries as a player's current salary.

It is very common knowledge in Europe that the listed salaries in Europe are the net income. That is very common knowledge even on this forum. If the sources you are using online are disputing that, then they are simply wrong and poorly fact checked.

if you doubt this, go ahead and ask in the forum. Dozens of other posters know this.

Mirotic was not bought out by Barca, as I already said. They had to pay him his entire salary this season.

[Mamba81p]

Larkin I believe is the highest player now, after Mirotic's contract with Barca was bought out. His effective salary is $2.5 million from Milano.

Mirotic's contract was fully guaranteed and Barca had to pay him all of his money, regardless of if they came to an agreement on him leaving the team or not. They paid him the full 10 million euros gross salary this season.

Also, Mirotic's salary in Milano is €2.5 million euros net income. The reported and listed salaries for players in Europe are the net income salaries. We only got Mirotic's gross salary from Barca, because it was go big.

The listed salaries of players in Europe are the amount of pay the players receive AFTER all taxes, agent fees, deductions, union fees and dues, retirement fund fees, etc., are already paid.

€2.5 million euros net income (Mirotic's Milano salary) equals about $7.4 million US dollars in gross income. NBA contracts are always listed in the gross income amount (BEFORE all taxes, agent fees, deductions, etc.) So that means that Mirotic is making the equivalent of a $7.4 million gross per season NBA salary with Milano.

Shane Larkin makes way more than an NBA $2.5 million salary (gross income) in Europe. He makes $4 million dollars in net income in Europe. That's equal to about $10.6 million gross per season in the NBA. Lots of players in Europe make more than what is a $2.5 million gross NBA salary.

In fact, currently, the average EuroLeague salary is $1.5 million US dollars gross. That is the average salary.

Where exactly are you getting these numbers? The Euro is worth 1.09 USD. I would love to see how you're calculating this, because from everything I've seen online, nothing you are saying can be verified.

And like I mentioned previously, you don't count bought salaries as a player's current salary.

Mirotic can't do math, lol.
The highest bracket in US is 37.6%. the highest state bracket is around 12-13% but that only applies to 6 teams in the league. There are 5 teams with 0 state taxes.
Agent fees are capped 4%. Rookies pay more but I think that is only for rookie scale contracts. I think the average fees are 3, or at least they used to be.

This is an extreme example: https://www.espn.com/nba/story/_/id/20715128/nba-player-salaries-take-home-pay

CA high income + a big difference in escrow vs getting escrow back from last year, and the total tax rate is 56%
I don't expect escrow money to be an issue for a long time with the cap smoothing, so there will be a lot of players with 40-45% tax rate

A 2.5 million$ net income in Europe is equivalent to about 4.2 mil in FL/TX

[Mirotic12]

There are federal, state, local, FICA taxes, agent fees, union dues and fees, player retirement fund fees deducted from NBA contracts. I'm not even including the potential escrow fund deductions. And the players all have to pay state taxes, even if they play in states without taxes. There is a tax exception that is figured for that, and also they pay the tax of where they are playing when on the road.

The EuroLeague salaries are reported in net income, after all taxes, fees and deductions.

Sports agencies actually have it all figured out, when comparing the two, and have a formula. A gross NBA contract will lose on average 63.05% when it is calculated at the net income.

The average EuroLeague contract will lose 0%, because they are already calculated by the EuroLeague teams at the net income amount.

So, Shane Larkin's (he was brought up as an example) contract with Efes.

= $4 million US dollars net income

$11 million US dollars gross (NBA salary) - 63.5% in taxes, fees, and deductions = ($6.985 million) = about $4 million US dollars net (EuroLeague salary)

The agency converting formula can be roughly estimated as taking a EuroLeague salary that is listed in euros net, and multiplying it by 3 times to get how much it would be worth in the NBA, in US dollars and in gross terms. This is not exact, but it gives a basic idea of roughly how much the EuroLeague contracts would equal in NBA money.

So, if you see a player with a listed EuroLeague income of €2 million euros, multiply it by 3, and then convert it to US dollars, and you get a $6 million NBA salary. So a €2 million listed salary in Europe, is roughly the equivalent of a $6 million listed salary in the NBA. That's again, not exact, but it's an easy way to figure it quickly in your head. And this is common knowledge in Europe.

In addition to this...something that is not even counted in the European listed player's salaries, is that the EuroLeague teams also pay for the player's cars, their homes, and their living expenses. The Greek teams for example, provide their players with large beach villas on the Mediterranean Sea.

EuroLeague teams can also often pay for the players to have personal chefs, personal trainers, personal drivers, maids, personal translators (if they need one), for their kids to go to private school, and some teams provide boats for their players, etc., etc., all paid for by the clubs, and none of it is counted in the reported salaries. The EuroLeague teams in addition to paying the player's agents, will also pay the accounting fees for the players and the agents, and that is not counted in the listed salaries either.

[realball]

Mirotic's contract was fully guaranteed and Barca had to pay him all of his money, regardless of if they came to an agreement on him leaving the team or not. They paid him the full 10 million euros gross salary this season.

Also, Mirotic's salary in Milano is €2.5 million euros net income. The reported and listed salaries for players in Europe are the net income salaries. We only got Mirotic's gross salary from Barca, because it was go big.

The listed salaries of players in Europe are the amount of pay the players receive AFTER all taxes, agent fees, deductions, union fees and dues, retirement fund fees, etc., are already paid.

€2.5 million euros net income (Mirotic's Milano salary) equals about $7.4 million US dollars in gross income. NBA contracts are always listed in the gross income amount (BEFORE all taxes, agent fees, deductions, etc.) So that means that Mirotic is making the equivalent of a $7.4 million gross per season NBA salary with Milano.

Shane Larkin makes way more than an NBA $2.5 million salary (gross income) in Europe. He makes $4 million dollars in net income in Europe. That's equal to about $10.6 million gross per season in the NBA. Lots of players in Europe make more than what is a $2.5 million gross NBA salary.

In fact, currently, the average EuroLeague salary is $1.5 million US dollars gross. That is the average salary.

Where exactly are you getting these numbers? The Euro is worth 1.09 USD. I would love to see how you're calculating this, because from everything I've seen online, nothing you are saying can be verified.

And like I mentioned previously, you don't count bought salaries as a player's current salary.

It is very common knowledge in Europe that the listed salaries in Europe are the net income. That is very common knowledge even on this forum. If the sources you are using online are disputing that, then they are simply wrong and poorly fact checked.

if you doubt this, go ahead and ask in the forum. Dozens of other posters know this.

Mirotic was not bought out by Barca, as I already said. They had to pay him his entire salary this season.

Okay so you're basically saying you have zero sources and unable to prove anything you are saying. Show me where you're pulling this 63% from. "Common knowledge" doesn't cut it.

And Barca having to pay Mirotic's full salary is completely irrelevant. He's no longer the highest paid player.

[LakersLegacy]

Would have liked to see USA games against all NBA top talent

Greece Giannis
Luka get a chance before being eliminated by Giannis
France Wem
Canada Mur, SGA without Warriors forcing Wiggins off
Spain
Top Eastern European countries

[Nuntius]

Where exactly are you getting these numbers? The Euro is worth 1.09 USD. I would love to see how you're calculating this, because from everything I've seen online, nothing you are saying can be verified.

And like I mentioned previously, you don't count bought salaries as a player's current salary.

It is very common knowledge in Europe that the listed salaries in Europe are the net income. That is very common knowledge even on this forum. If the sources you are using online are disputing that, then they are simply wrong and poorly fact checked.

if you doubt this, go ahead and ask in the forum. Dozens of other posters know this.

Mirotic was not bought out by Barca, as I already said. They had to pay him his entire salary this season.

Okay so you're basically saying you have zero sources and unable to prove anything you are saying. Show me where you're pulling this 63% from. "Common knowledge" doesn't cut it.

And Barca having to pay Mirotic's full salary is completely irrelevant. He's no longer the highest paid player.

A quick Google search led me to this blog post -> https://www.josecolorado.com/overseas-basketball-salaries#euroleague-basketball-salary

It is a pretty in-depth breakdown of pay-grades across various international leagues and within, you can also find the following:

Quick note:

These are take-home totals - instead of gross pay - since the EuroLeague actually reports figures after taxes.

The NBA does it prior to taxes.

So their salaries always look a bit more inflated in comparison!

I do not often agree with Mirotic12 but he is right on this point.

[Mamba81p]

It is very common knowledge in Europe that the listed salaries in Europe are the net income. That is very common knowledge even on this forum. If the sources you are using online are disputing that, then they are simply wrong and poorly fact checked.

if you doubt this, go ahead and ask in the forum. Dozens of other posters know this.

Mirotic was not bought out by Barca, as I already said. They had to pay him his entire salary this season.

Okay so you're basically saying you have zero sources and unable to prove anything you are saying. Show me where you're pulling this 63% from. "Common knowledge" doesn't cut it.

And Barca having to pay Mirotic's full salary is completely irrelevant. He's no longer the highest paid player.

A quick Google search led me to this blog post -> https://www.josecolorado.com/overseas-basketball-salaries#euroleague-basketball-salary

It is a pretty in-depth breakdown of pay-grades across various international leagues and within, you can also find the following:

Quick note:

These are take-home totals - instead of gross pay - since the EuroLeague actually reports figures after taxes.

The NBA does it prior to taxes.

So their salaries always look a bit more inflated in comparison!

I do not often agree with Mirotic12 but he is right on this point.

His numbers are way wrong though. I don't blame him that he is not familiar with the US tax system, but he thinks he knows better than actual accountants

[Nuntius]

Okay so you're basically saying you have zero sources and unable to prove anything you are saying. Show me where you're pulling this 63% from. "Common knowledge" doesn't cut it.

And Barca having to pay Mirotic's full salary is completely irrelevant. He's no longer the highest paid player.

A quick Google search led me to this blog post -> https://www.josecolorado.com/overseas-basketball-salaries#euroleague-basketball-salary

It is a pretty in-depth breakdown of pay-grades across various international leagues and within, you can also find the following:

Quick note:

These are take-home totals - instead of gross pay - since the EuroLeague actually reports figures after taxes.

The NBA does it prior to taxes.

So their salaries always look a bit more inflated in comparison!

I do not often agree with Mirotic12 but he is right on this point.

His numbers are way wrong though. I don't blame him that he is not familiar with the US tax system, but he thinks he knows better than actual accountants

I don't know enough about the US tax system to know whether his numbers are accurate or not. What I do know is that he is correct about teams in the EuroLeague reporting their figures after taxes and that was the focus of my post.

[realball]

A quick Google search led me to this blog post -> https://www.josecolorado.com/overseas-basketball-salaries#euroleague-basketball-salary

It is a pretty in-depth breakdown of pay-grades across various international leagues and within, you can also find the following:



I do not often agree with Mirotic12 but he is right on this point.

His numbers are way wrong though. I don't blame him that he is not familiar with the US tax system, but he thinks he knows better than actual accountants

I don't know enough about the US tax system to know whether his numbers are accurate or not. What I do know is that he is correct about teams in the EuroLeague reporting their figures after taxes and that was the focus of my post.

What I asked was how he came across the number of 63% for taxed income + fees. The link you gave clearly states that Mirotic earns 5.4 million USD from Barcelona, and the next highest is Larkin at 3.5 million USD, which is what I had mentioned previously. Where exactly is the 63% figure coming from? Basically it means that that teams are paying more than double of what they are actually reporting / players are getting more than double in salary than what is reported.

[Nuntius]

His numbers are way wrong though. I don't blame him that he is not familiar with the US tax system, but he thinks he knows better than actual accountants

I don't know enough about the US tax system to know whether his numbers are accurate or not. What I do know is that he is correct about teams in the EuroLeague reporting their figures after taxes and that was the focus of my post.

What I asked was how he came across the number of 63% for taxed income + fees. The link you gave clearly states that Mirotic earns 5.4 million USD from Barcelona, and the next highest is Larkin at 3.5 million USD, which is what I had mentioned previously. Where exactly is the 63% figure coming from? Basically it means that that teams are paying more than double of what they are actually reporting / players are getting more than double in salary than what is reported.

I don't know anything about that 63% number that he mentioned. This wasn't the point that I was corroborating. I was corroborating the point that teams in the EuroLeague report their figures after taxes while NBA teams report their figures before taxes. That's all I can personally verify so that is what my comment was about.

[Mirotic12]

I don't know enough about the US tax system to know whether his numbers are accurate or not. What I do know is that he is correct about teams in the EuroLeague reporting their figures after taxes and that was the focus of my post.

It's accurate. The sports agencies of course need to know exactly how much the European net contracts are worth in comparison to a gross NBA contract. Of course they absolutely 100% have a methodology of comparing the two, so the players all know how much a contract they are offered in Europe is worth in the NBA and vice versa. The idea that they don't have a formula for converting them is complete nonsense. The European teams pay the taxes for the players and the agents, and they pay the accounting costs for the players and the agents on those taxes. So yes, the numbers are accurate.

[Mirotic12]

What I asked was how he came across the number of 63% for taxed income + fees. The link you gave clearly states that Mirotic earns 5.4 million USD from Barcelona, and the next highest is Larkin at 3.5 million USD, which is what I had mentioned previously. Where exactly is the 63% figure coming from? Basically it means that that teams are paying more than double of what they are actually reporting / players are getting more than double in salary than what is reported.

Shane Larkin makes $4 million per season in net income.

https://www.milliyet.com.tr/skorer/ozel-shane-larkin-4-yil-daha-anadolu-efeste-4-milyon-dolarlik-teklife-evet-dedi-7119546

4 MORE YEARS AT ANADOLU EFES

Shane Larkin, who accepted Anadolu Efes' $4 million annual offer, will fight for the navy blue-white jersey for another 4 years.

https://www.eurohoops.net/en/trademarks/1559225/the-top-10-euroleague-salaries-2023-24/

Eurohoops presents the list of the net earnings of the top players in Europe

As usual, the list includes salaries in US dollars for comparison even with the NBA and those numbers are net, since it’s even more complicated to compare gross salaries

Shane Larkin $4M (Anadolu Efes)

Nikola Mirotic made way more than $5.4 million with Barcelona.

https://as.com/baloncesto/acb/mirotic-no-perdona-nada-n/

He wants to collect the full contract, which rises to 22 million euros, eleven per season.

https://basket-infos.com/2019/06/30/nikola-mirotic-aurait-signe-un-contrat-de-80-millions-de-dollars-avec-le-fc-barcelone/

The Spanish media reports that Barça would have put on the table a huge offer of 70 million Euros over 6 years

Mirotic was still getting paid by Barcelona last season.

https://www.eurohoops.net/en/euroleague/1694800/barcelona-reportedly-nears-financial-agreement-with-mirotic-and-higgins/

Barcelona is reportedly obligated to pay Mirotic over 20 million euros for the remaining two seasons of his contract, while Higgins is owed 3.4 million euros.

The club managed to avoid legal proceedings with Higgins by reaching a manageable short-term agreement. However, Mirotic’s case presented a greater challenge.

To address this, Barcelona structured a payment plan in four or five installments. This approach allows Mirotic to receive a substantial portion of his owed salary while providing Barcelona with a manageable payment schedule.

Mirotic will still be getting paid by Barcelona for the next two seasons.

According to AS, the final settlement for Mirotic will be slightly below 20 million euros.

[Nuntius]

I don't know enough about the US tax system to know whether his numbers are accurate or not. What I do know is that he is correct about teams in the EuroLeague reporting their figures after taxes and that was the focus of my post.

It's accurate. The sports agencies of course need to know exactly how much the European net contracts are worth in comparison to a gross NBA contract. Of course they absolutely 100% have a methodology of comparing the two, so the players all know how much a contract they are offered in Europe is worth in the NBA and vice versa. The idea that they don't have a formula for converting them is complete nonsense. The European teams pay the taxes for the players and the agents, and they pay the accounting costs for the players and the agents on those taxes. So yes, the numbers are accurate.

The agencies definitely know. I don't.

[Mirotic12]

Sasha Vezenkov's final contract numbers with Olympiacos were 5 years and €23 million euros net income (after all taxes, union fees and dues, agent fees, etc.)

The contract is equal to a 5 year $63 million NBA gross contract. It is the second largest contract in the history of Europe. Nikola Mirotic's contract with Barca, was equal to a 6 year $80 million contract in the NBA, and is the only bigger one.

Vezenkov waived his entire remaining salary with the Raptors of $6.6 million, and accepted a $0 buyout.

Like I said, he didn't give one single iota about that NBA money or contract, because it was way less than Olympiacos offered him.