LeBron James is already worth $1.2 billion. And his influence on the league just keeps growing. At 39, LeBron remains Adam Silver’s go-to for bringing bold ideas to life. After all, the rest of the league follows if King James approves a plan. Take the NBA Cup, for example—a vision that The Chosen One championed, and everyone else embraced. Now, a surprising twist from President Donald Trump could mean big money for the NBA, NFL, MLB, and NHL- basically the “Big Four”.
via Imago
Remember when President Trump said he’d do away with the federal income tax during his election campaigns? Well, it looks like his words are under serious consideration. This simply means the White House could move toward the removal of the tax that until now was a massive snip in everyone’s pockets. What does this mean for the NBA? What does it have to do with LeBron James?
So, the 22-season veteran earns $48.7 million a year now, making him the highest-paid NBA star, considering endorsements and side income too. Per calculations, the 4x NBA champ gives approximately $19.2 million in federal taxes. James has to give up 39.6% of his income to taxes. Well, if President Trump removes this tax, the Lakers foreman will retain the 19 million he was giving up until now!
So, if the federal tax is eradicated, in Adam Silver’s biggest hoops league in the world, each player could save up to $3.5 million, on an estimated average, via Andrew Petcash. He further had other player’s financial gains calculated, and he estimates that Kevin Durant could save up to $18.9 million, and Nick Bosa can retain a further $12.5 million. Well, had this been the case last year, LeBron James could’ve retained his 47 million without giving up 37% of it in federal income tax.
Simply put, Donald Trump is trying to make way for more cash flow, not just for athletes but also for the ‘Big Four’ and its governing body.
What is President Trump aiming for that will benefit the likes of LeBron James and America’s Big Four?
LeBron James’ ideologies do not align with Donald Trump‘s ideologies- this is a known fact. However, in his second stint as the President of the USA, his taxation policies are going to benefit everyone, even The Chosen One. So, what does the White House have in mind with the idea of removing the federal taxes? Trump wants to eliminate federal income tax to reduce the tax burden on all.
He proposes replacing this revenue with high tariffs on imported goods. His plan aims to fund the government through these tariffs rather than income tax. This means pro athletes and their sports leagues will be directly impacted by a raise in their bank accounts. Andrew Petcash estimated that the NFL could save $2.9 billion, NBA- $1.9 billion, MLB- $1.1 billion, and the NHL- $888 million.
USA Today via Reuters
Donald Trump’s plan to eliminate federal income tax could give high earners like LeBron James a big boost. The plan is sparking debate, but the immediate effect is somewhat clear. More money would flow to individuals and leagues.
Stephen Curry, Kevin Durant, Giannis Antetokounmpo, Joel Embiid, Jimmy Butler, Devin Booker, Damian Lillard, and Bradley Beal are only some of the names who are set to cash out NBA wages of beyond $45 million in 2024/25. While for LeBron James, this means keeping the $19.2 million he currently pays in taxes. The biggest hoopsters could save money fast under Trump’s proposed system.
