The estate of late Memphis Grizzlies player Brandon Clarke will receive a life insurance disbursement for his full $12.5 million salary that was owed next season.
Agent Mark Bartelstein of Priority Sports, who represented Clarke, confirmed to USA TODAY Sports Friday, Aug. 14 that Clarke's contract was fully protected for death through a life insurance policy purchased by the Grizzlies. The full $12.5 million amount will be disbursed to Clarke's estate tax-free.
There are multiple ways players and their representatives can negotiate life insurance policies and post-death protections in player contracts. From no coverage whatsoever, to standard death protections that count a player's salary as a taxable event, agents can also negotiate to have the player's team purchase the life insurance policy. This last option allows for a player's full salary to be paid out tax-free, providing a massive benefit to the player's estate.
As for the remaining portion of Clarke's $12.5 million salary for the 2025-26 season that had been owed at the time of his death, Bartelstein confirmed that amount is being paid out to his estate through October 2026; NBA contracts are paid in installments, so the remaining amount will be disbursed in those regular installments.
#life #insurance #death #grizzlies
Agent Mark Bartelstein of Priority Sports, who represented Clarke, confirmed to USA TODAY Sports Friday, Aug. 14 that Clarke's contract was fully protected for death through a life insurance policy purchased by the Grizzlies. The full $12.5 million amount will be disbursed to Clarke's estate tax-free.
There are multiple ways players and their representatives can negotiate life insurance policies and post-death protections in player contracts. From no coverage whatsoever, to standard death protections that count a player's salary as a taxable event, agents can also negotiate to have the player's team purchase the life insurance policy. This last option allows for a player's full salary to be paid out tax-free, providing a massive benefit to the player's estate.
As for the remaining portion of Clarke's $12.5 million salary for the 2025-26 season that had been owed at the time of his death, Bartelstein confirmed that amount is being paid out to his estate through October 2026; NBA contracts are paid in installments, so the remaining amount will be disbursed in those regular installments.
#life #insurance #death #grizzlies
3 months ago
