Carmelo Anthony Takes $62 Million Advance

New York Knicks star Carmelo Anthony is getting advance payment of more than $62 million from the five-year contract he signed last month, according to people familiar with the matter.

The advance for $62,032,340—or 50% of his $124 million-plus deal—is the maximum Anthony can take this soon under league rules. And in terms of sheer dollar amounts, it is surely among the largest advance payouts a player has taken in NBA history. Only Kobe Bryant, Jermaine O'Neal, Kevin Garnett and Rashard Lewis have ever signed contracts for larger amounts.

Anthony's advance will have no impact on the Knicks' salary-cap situation. It simply changes the timing of when the 30-year-old will receive his biggest paychecks over the course of the contract.

Anthony's agent, Leon Rose, didn't immediately return a call seeking comment.

While the $62 million figure is unique, Anthony wouldn't be the first player to take a 50% advance on his contract. Knicks swingman J.R. Smith—who is also represented by Rose—did the same thing last summer, when he took half the money from his new, nearly $18 million contract upfront.

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