Carmelo Anthony set to receive $62 million advance payment

  • Marcus Burnan
Troy Taormina-US PRESSWIRE

Troy Taormina-US PRESSWIRE

Carmelo Anthony signed a five-year, $124 million contract to remain with the New York Knicks.

According to the Wall Street Journal, Anthony will receive half of his $22.5 million salary for this year early.  The remain lg four years of the deal are set up the same way meaning that Anthony will receive advance payments of the $124 million contract, or about half of it.

The rules of the collective bargaining agreement prevents the advance payments being more then 50 percent of the salary.  It’s also worth noting that the payments Anthony will receive won’t effect the Knicks’ salary cap.

Anthony has gone on record in sating he doesn’t care about the money and that it’s more important to win.  So I can’t imagine Melo being too excited for this advance payment.

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