After nearly two and a half weeks of deliberating, Carmelo Anthony has turned down offers from the Los Angeles Lakers and the Chicago Bulls to re-sign with the New York Knicks.
Melo’s new deal will see him earn $124 million over the next five years – which is $5 million less than the full maximum.
Carmelo’s income over the next five seasons:
Year 1: $22,448,000
Year 2: $22,875,000
Year 3: $24,559,380
Year 4: $26,243,760
Year 5: $27,928,140
Crazy stupid, right?
Anthony is expected to clear max money in his first season ($22,448,000), but his annual increase is just under the typical amount for a maximum contact – which is how the Knicks will save $5 million, allowing them to be more financially flexible next off-season.
Melo can terminate his contact after the fourth year, plus he’s included a no-trade clause.
Lets hope Melo can resolve his post-season issues – the guy can ball:
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