Lakers Set to Pay Kobe $24 Million Lump Sum on Friday
It pays to have someone around to negotiate a quality contract for you.
Tomorrow people all over america will be receiving their weekly, bi-weekly, or monthly paycheck. There won’t be to many checks cut larger than the direct deposit Kobe Bryant is set to get from the Lakers Friday morning.
The LA Times’ Eric Pincus reports the Lakers are set to pay Bryant a balloon payment of $24, 363,044.
Negotiated as part of his specific contract, Bryant receives a balloon payment on Nov. 1. On Friday, the All-Star guard will receive $24,363,044 from the Lakers.
Bryant’s salary for the entire season is $30,453,805 — the remaining $6.1 million will be paid out over the course of the year.
While there’s a limit to how much a player can receive in advance, Bryant is right at that 80% maximum.
The Lakers can give Kobe an extension before July starting as low as $1.4 million a year to as high as $32.7 million.