Skip to content

Kevin Garnett will get $5 million a year after he retires

Oct 25, 2011, 8:39 PM EST

Boston Celtics v Miami Heat - Game Two Getty Images

Kevin Garnett’s glare broke down the NBA negotiations a couple weeks ago.

Well, that’s not the truth. The owners spun that story, but do you think they fold just when KG stares? Right. KG is intimidating but not THAT intimidating

But it is fair to note that many of the hardliners from the players union are the most financially secure guys in the league. Kobe Bryant, Paul Pierce for example. And that includes Garnett, according to Steve Aschburner at NBA.com.

In fact, Garnett’s self-funded pension (apart from his NBPA one) will be pretty plush. Two sources told NBA.com that the Celtics forward will still have $35 million coming after he retires. He’ll be due $5 million annually for seven years, the result of deferred salary Garnett and agent Andy Miller got in each of his last two contract extensions. Whatever portion is due from this season might be affected by games lost to the lockout, but it’s not as if Garnett’s financial spigot gets turned off next spring.

Garnett has made $270 million is salary alone during his career (prior to this season), so money is no object. Delay some of it. That actually is the smart thing to do.

But while KG is sitting pretty for years and playing the hardline, do other players feel that way? Maybe. Make no mistake the owners are trying to screw the players. But how long can those players put up with it?

  1. edmazeing1 - Oct 25, 2011 at 8:43 PM

    Damn, 4 a deal like that, I say KG has the best agent in sports period!!!

  2. henryd3rd - Oct 25, 2011 at 8:59 PM

    How’s he suppose to feed his family with that little bit of money? Shall we pass the hat? Maybe he can apply for unemployment when he retires?

  3. yournuts - Oct 25, 2011 at 9:19 PM

    OMG and he is complaining that he’s not getting enough money.

  4. loza6984 - Oct 25, 2011 at 9:22 PM

    The owners are trying to screw the players??? Give me a break. $5M a year for seven years after retirement….who’s screwing who? Fans are paying for Garnet’s post retirement salary (one way or another). The fans are getting screwed! Put less butts in seats and see how quickly this scheme collapses.

    • iamhoraceknight - May 25, 2012 at 1:54 AM

      Garnett Chose to Defer Some of His Current Contract to post retirement. It’s a new or separate deal, it’s a practice commonly used in baseball.

    • docconan - Jul 2, 2012 at 7:10 PM

      “The fans are getting screwed!”
      Yeah, because the owners will drastically cut ticket prices if they no longer have to pay those player salaries! This is deferred compensation from his current deal. Horace is correct, it started in baseball with Bobby Bonilla who is still drawing $1 million from the Mets for 20 years. It’s a practice you may see more in the future and pretty smart if you ask me.

  5. nicosamuelson2 - Oct 25, 2011 at 10:40 PM

    As if the owners need more money. Greedy sons of B—s! Let the players play!!

    • skids003 - Oct 26, 2011 at 8:16 AM

      As if the players need more money. The players are the greedy ones. Kurt, how can you say that?

      • iamhoraceknight - May 25, 2012 at 1:55 AM

        How Are The Players Greedy?

  6. dawkattack - Oct 25, 2011 at 11:58 PM

    Still No TIMVP Da Big Fundamental

  7. phreakin - Oct 26, 2011 at 3:06 AM

    And KG came out of high school and has this much common sense. Been my favorite player since he arrived and earned a whole new level of respect with this.

  8. hardjudge - Oct 26, 2011 at 9:08 AM

    Players start own league!

  9. kandh2004 - Oct 26, 2011 at 10:42 AM

    I love people who say the players should start their own league. First they don’t have the money to do it, yes they could get sponsors to help them out but you think the NBA won’t remember that when it comes time to look for the same sponsors. Second these are the same cry baby millionaires that won’t go 50/50 on a new deal you think they want to pay all the bills and not get paid for playing. Stop all this nonsense about starting their own league it just isn’t realistic

    • geo59 - Oct 26, 2011 at 3:24 PM

      It is a sad day for America when Americans are so brainwashed by political
      manipulation, misguided racism and misinformation that they side with greedy,
      billionaire team owners and side against talented, courageous, American athletes. Unions are good and important in our society. NBAPA, walk away from the “owners” and form the Player Owned International Basketball Association. You don’t need the owners. They don’t control the means of production, you do! This is an historic
      opportunity to strike a blow for the 99%.

      • ghelton03 - Oct 27, 2011 at 9:15 PM

        I might also add that the players union is of more use to the owners to cap and hold salaries down, than it is for the players to assure minnimum wages and to take care of the average player. The owners would be insane to try and bust this union, so they better be careful how far they try to push the players. Decertifying is the ultimate weapon for the players.

      • markleigh01 - Nov 6, 2011 at 10:21 PM

        Are you putting basketball players earning millions with the 99%? Sorry, I’d put them with the 1% (that includes the owners). The 99% include the millions/billions who live on a few dollars a day or less, or who have no job, or who can’t afford health care & are dieing from preventable disease (this includes MANY in 1st world/Western countires). I do want to see games but I feel no sympathy for either side – I would say they are ALL greedy.

  10. ghelton03 - Oct 26, 2011 at 9:02 PM

    If KG deferred $35M of his contract until after he retired, that only benefited the Celtics, NOT KG. Any accountant or money manager would have told KG to take the money as soon as he could get it. By deferring he is losing 7 years worth of interest or the ability to invest that money. This was NOT a good deal for KG, but the owners will try to spin as though KG is robbing them. I am sure this was done to give the Celtics some room to maneuver within the limits of the salary cap rules.
    But, no one will talk about the benefit of KG’s deal to the owner of the C’s.

    • thetooloftools - Oct 28, 2011 at 7:09 PM

      The $5 mil will still count against the cap after he retires making your point null and void.

      • aboogy123456 - Feb 21, 2012 at 5:56 PM

        His point is still valid, at the very worst he could get 3% interest. money now > money later

      • iamhoraceknight - May 25, 2012 at 1:56 AM

        Deferred money can not count against a Cap …

  11. thetooloftools - Oct 28, 2011 at 7:03 PM

    “Make no mistake the owners are trying to screw the players”. What a stupid statement. Your articles should be titled “Pro Basketball Smack” Kurt. I hope you honestly don’t get paid. The owners are not screwing anyone. Players in those exhibition games are bailing because it’s a joke. I would rather (and would pay to see) have replacement players then these primadonna 8itches.

  12. rreducla1 - Oct 29, 2011 at 1:27 AM

    thetooloftools certainly chose an apt handle.

    • jimeejohnson - Oct 31, 2011 at 9:25 PM

      How bout useful idiot?

  13. jebdamone - Feb 1, 2012 at 8:57 PM

    did the people who are complaining about this even read the article? at least a substantial portion of that money is from a contractual deferment program on his salary. this is a good business decision for a guy that was smart enough to not blow all his money so he could make more later.

  14. jikkle49 - May 31, 2012 at 2:17 PM

    I don’t feel sorry for either side and both can screw each as much as they want. The players try to squeeze the owners out as much money as they can just like the owners try to squeeze the players. No Saints in this battle just Sinners.

    KG is a smart man and most players of any sport should follow his example. I’m all for a guy buying himself some nice things if he’s making that kind of dough but make sure you’re smart enough to invest in your future and keep enough stored away when that time comes when you’re out of the game.

  15. zbigern - Jul 8, 2012 at 11:08 PM

    I cant believe the salaries NBA avg dudes haul in…Yes they are paid the dinero because the guy cutting the check can AFFORD to cut the check…the bottom line to me is the amount of cha-chang a two point/ three plus rebound a game guy can haul in.

    Im not hating the player OR the game. Im just blown away by it , & at some point it has to be counterproductive to the sustainability for the future.

    KG is spot on in his method btw.

    I cant decide who is screwing who, in turn, we the lifelong loyal fan gets hosed.

Leave Comment

You must be logged in to leave a comment. Not a member? Register now!

Featured video

Jabari Parker injury latest for disappointing rookie class
Top 10 NBA Player Searches
  1. D. Favors (7646)
  2. K. Martin (7341)
  3. D. Cousins (6909)
  4. A. Davis (6850)
  5. A. Bogut (6807)
  1. J. Noah (6692)
  2. T. Jones (6635)
  3. C. Bosh (6425)
  4. D. Lee (6415)
  5. T. Parker (6253)