What We're Reading

Beckham's Galaxy Salary: $5.5 Million per Season

Various reports are now paring down David Beckham's MLS contract even further. An Associated Press report last Friday revealed that Beckham's base salary with the L.A. Galaxy, to be paid by Philip Anschutz's Anschutz Entertainment Group, will be $5.5 million-not the $10 million AEG would have us believe. However, Becks is projected to earn nearly as much from a revenue-sharing agreement for the team's merchandise sales, jersey sponsorship and foreign tours (which will likely include Asia, where they've erected statues of him).

Grahame L. Jones of the Los Angeles Times reminds us that in January, Tim Leiweke, the CEO of Galaxy owner AEG, said Beckham's package would potentially be worth $250 million in salary and endorsements. Later he said that soccer-related income would be in the neighborhood of $10 million a season-which you get from adding his salary to the projected extras. The AP story cited an unnamed source as the league has consistently declined to reveal any further details of the contract. The rest of the $250 million would have to come as extensions of his current sponsorship deals with Adidas, Gillette and Pepsi.

Read the whole story at Los Angeles Times »

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