Joe Smith reveals he lost $80 million after NBA called him out for famous ‘under-the-table’ deal

Former NBA star Joe Smith has been in the eye of the storm lately, ever since he found out a couple of weeks ago that his wife Kisha Chavis was hot on OnlyFans and she decided to film and post his reaction on social media.

The former No. 1 pick has been attending many interviews lately and it has been almost impossible not to relive his infamous scandal early in his career after he agreed to an under-the-table contract in Minnesota. Smith now revealed that this illegal negotiation cost him $80 million.

Let’s recap. Joe was first selected by the Golden State Warriors in the 1995 NBA Draft, where he played his rookie and sophomore campaigns. He then headed to the Philadelphia 76ers, where he only played half a season before becoming a free agent.

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Everyone expected Smith to sign a lucrative contract after the 1999 NBA lockout came to an end, but surprisingly he only signed a one year, $1.75 million deal with the Timberwolves that afforded the team with financial flexibility to add other strong moves that summer.

To everyone it became incredibly suspicious that a young talent with such potential would accept such an unselfish deal, especially after he had previously turned down an $80 million extension in Golden State.

It turned out that the former athlete had signed an illegal contract that involved him agreeing to three consecutive minimal one-year deals. Unfortunately, the league found out what was happening before the summer of 2000 and punished both team and player.

“There was an under-the-table deal done with my agent and the organization without me being involved, but I eventually ended up having to pay the penalty,” Smith recalled. “But I mean, it was an under-the-table deal. That one was, I guess, worth $80 million.”

The NBA realized this was going one after a court case ensued in which former agents and partners revealed the documents of those secret negotiations.

“Things happened with a partnership where they were splitting and going their separate ways. They had to go to court and get their situation settled,” shared the ex-NBA player. “It came out in court from one of the agents that that deal was done and that deal was under the table, and all of a sudden, it’s all in the media.”

Smith then revealed the NBA gave him a choice after Timberwolves scandal in order to remain competing

In order to remain competing in the league, Smith then revealed that the NBA gave him one opportunity following the contract scandal in Minnesota. According to the former athlete, he would be able to sign a new deal with the Timberwolves if he accepted a one-year suspension, if not he would have to negotiate with another team.

“I had to deal with the consequences of the NBA as far as they gave me a choice,” Joe told VladTV. “Either I could sign back with Minnesota and miss an entire year, or I could sign with someone else and then play that year out, and if I wanted to, I could come back to Minnesota.”

Smith finally decided to agree to a one year, $2.25 million contract with the Pistons in 2000. However, after just one year in Detroit, he returned to the Wolves on a six-year, $34 million deal in 2001.

“So I ended up signing with Detroit as a free agent. … Then after I played that season with the Pistons, I came back there and played in Minnesota,” the former star recalled.