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Hoops to High Net Worth: The Financial Legacy of NBA Legend Kevin Garnett

Published Fri Jan 19 2024 By Marie
Hoops to High Net Worth: The Financial Legacy of NBA Legend Kevin Garnett

Kevin Garnett, born on May 19, 1976, is a retired American professional basketball player. He is renowned for his 21-season career in the National Basketball Association (NBA).

Recognized for his fierce intensity, exceptional defensive skills, and versatility on the court, he earned the nicknames "KG" and "The Big Ticket."

How Rich is Kevin Garnett?

Kevin Garnett, a retired American professional basketball player, boasts a net worth of $120 million. Recognized by various monikers such as "The Big Ticket," "KG," "The Kid," and "The Franchise," Garnett achieved global fame during his illustrious playing career. 

Kevin Garnett who is also known as KG, or The Kid.
Source: Pinterest 

Drafted straight out of high school in 1995, he is widely regarded as one of the greatest power forwards in the history of the NBA. Garnett's notable stints include playing for the Minnesota Timberwolves, and the Boston Celtics, and concluding his 21-season career with the Brooklyn Nets.

Kevin Garnett Career Highlights 

Garnett embarked on his NBA journey with the Minnesota Timberwolves, initially facing a gradual start to his career. Notably, he became the youngest player in NBA history at the time, debuting at the age of 19 years and 11 months. In 1997, he secured a significant six-year contract extension worth $126 million. From 2001 to 2004, Garnett earned the MVP title, and the Timberwolves clinched division championships during this period.

Despite Garnett's stellar performances, the following years brought frustration as the team's overall performance waned. This led to his trade to the Boston Celtics in 2007, where he signed a three-year, $60-million contract. In his inaugural season with the Celtics, Garnett played a pivotal role in securing an NBA Championship. Subsequently, in 2013, he was traded to the Brooklyn Nets, spending two seasons with the team before concluding his remarkable career with a final season back in Minnesota.

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Kevin Garnett's Post-Playing Career 

Following his retirement, Garnett transitioned into the entertainment realm, making appearances on shows like "Inside the NBA" and showcasing his talent in the 2019 film "Uncut Gems." In 2017, he took on a consulting role with the Los Angeles Clippers and also served as a consultant for the Milwaukee Bucks during that period.

Kevin Garnett doing his signature pose during his game.
Source: Pinterest 

Beyond his entertainment ventures, Garnett delved into various business pursuits, primarily focusing on sports team ownership. In 2011, he became a limited shareholder for the Italian Serie A soccer team A.S. Roma. Notably, in 2020, reports surfaced that Garnett expressed interest in becoming the new owner of the Timberwolves, acknowledging his involvement in a group aspiring to acquire the franchise from Glen Taylor.

Kevin Garnett’s Salary and Career Earnings

In his last NBA season, Kevin Garnett earned a salary of $12 million, supplemented by an additional $10 million per year from endorsements. He periodically held the record for the highest-earning NBA player in terms of contract salaries. 

Throughout his career, Garnett amassed a staggering $334.3 million in salary alone, which, at the time of his retirement and for several subsequent years, exceeded the earnings of the second-highest-paid player, Kobe Bryant, by $11 million. Notably, Garnett's highest single-season salary reached $28 million.

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Kevin Garnett’s Real Estate 

In 2003, Kevin Garnett acquired a property on the Pacific Coast Highway in the Los Angeles area for $6.4 million, intending to use it as an off-season home. The location allowed him to enjoy beach runs. In 2013, he commenced substantial renovations on the property and later listed it for $19.9 million in 2018.

Details from court documents related to a lawsuit disclosed the extent of these renovations. Garnett reportedly considered paying $695,000 for new doors and windows, over $300,000 for a new granite driveway, an additional $300,000 for exterior stucco, and $30,000 for a pool house roof. Despite initially listing the 8,156-square-foot property, he swiftly removed it from the market. The extensive renovations had increased the square footage to over 11,000 square feet.

Kevin Garnett posing for a picture in casual clothes.
Source: Pinterest

In 2014, Garnett sold his Concord, Massachusetts property for $3.635 million, marking a notable loss from the $4.625 million he had paid in 2007. Situated on 12.7 acres of forested land overlooking Howe's Pond, the 11,000-square-foot residence featured amenities such as a wine cellar, gym, and media room. Despite initially listing it for $4.85 million in 2013, Garnett eventually accepted price cuts totaling $851,000 before successfully selling the property.

Kevin Garnett's Personal Life

Kevin Maurice Garnett was born on May 19, 1976, in Greenville, South Carolina. Growing up with two siblings, Garnett developed a passion for basketball at a young age. His formal involvement in organized basketball began in high school. During his senior year, he faced legal trouble after a fight between black and white students resulted in his arrest for second-degree lynching, even though he wasn't directly involved.

After transferring to another high school, Garnett's basketball skills flourished, capturing the attention of NBA scouts. Despite struggling with the ACT, he performed well on the SAT. Garnett's impressive performance at an NBA tryout camp paved the way for his entry into the 1995 NBA Draft. In 2004, Kevin Garnett married Brandi Padilla, his long-time partner. The couple had two children during their relationship, which unfortunately ended in separation in 2018.

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