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[Saba Sports News] Shaquille O’Neal recently shared financial advice with Dallas Mavericks star Luka Doncic, who is potentially approaching a $500 million contract. Drawing from his own experience of managing large sums of money after making mistakes early in his career, Shaq offered guidance on how Doncic could handle his future earnings wisely.
Speaking on ‘The Pat McAfee Show,’ O’Neal said, “Luka is about to get $100 million. If I was him, I would say, ‘Okay, just pay me $20 million this year and defer that $80 million, just defer it to when I’m done playing.'” He continued, “Because you know that $80 million is not gonna be $80 million after taxes. Just pay me $20 million, and the other $80 million after taxes just put it away. I don’t wanna see it till I’m 35.”
Shaq advised Doncic to defer a significant portion of his earnings until after retirement, ensuring long-term financial security. He highlighted that taxes would heavily reduce Doncic’s take-home pay, and by deferring his salary, Doncic could let his wealth grow post-retirement when taxes would be lower.
This advice reflects Shaq’s personal growth from a young athlete who spent recklessly to a financially savvy business mogul. With the NBA recently signing an 11-year, $76 billion broadcasting deal, salary caps are rising, leading to larger contracts for players like Doncic.
Given Doncic’s trajectory, he could become the first NBA player to earn $100 million annually and potentially surpass $1 billion in career earnings. Shaq’s advice underscores the importance of financial planning to secure Doncic’s future success both on and off the court.