Sports

Jaylen Brown scores: These are the 5 biggest contracts in the NBA – MarketWatch

Published

1 year ago

August 23, 2023

admin

Jaylen Brown has made basketball history.
Brown, 26, and the Boston Celtics set a record this week when the forward inked a $304 million contract, the largest deal in NBA history — for now.
The deal is fully guaranteed, meaning he is protected against any skill decline or injury, and will keep him with the team until 2029.
Every NBA team has an allotted amount of money they can spend on players each year called the salary cap, which is calculated by the amount of money the league makes each year. So because league revenues have been growing, and they’re expected to continue to rise with the prospect of a new TV agreement with partners including Disney DIS, -0.10% and Turner, the NBA salary cap is constantly increasing. Hence, bigger and bigger potential contracts.
And that means the latest player who signs a big, new contract is oftentimes the richest player in history for only a short period of time, until the next big deal is made. So Brown’s history-making contract may not stay in the top spot for too long. Hot on his heels: his Celtics teammate Jayson Tatum, Dallas Mavericks star Luka Dončić, and Oklahoma City Thunder guard Shai Gilgeous-Alexander, who all may soon be in line to have even bigger contracts in future seasons.
But for now, Brown is on top. So with his historic deal in mind, here’s a look at the 5 biggest active NBA contracts, according to Spotrac:
Brown signed the maximum five-year contract extension available to him that will pay him an average annual salary of $60.8 million per season, beginning in 2024. The Celtics forward’s deal is simultaneously the largest contract in NBA history both in terms of total value and average annual value.
During a press conference this week announcing his deal, Brown, a Black man, also discussed investing in the local community, and addressed the wealth disparity in Boston, the city where the Celtics play.
“I want to launch a project to bring Black Wall Street to Boston and help bridge the wealth gap,“ he said.
Denver Nuggets center and newly-minted NBA champion Nikola Jokić, 27, is the second-highest paid player in the NBA. Jokić’s contract is for five years and carries an average annual value of $55 million.
Jokić lives in his home country Serbia in the offseason, and is famous for his simple off-court lifestyle of racing horses.
Bradley Beal, who was traded from the Washington Wizards to the Phoenix Suns during the offseason, signed a five-year contract last year worth an average of $50 million per season.
Beal, 29, is the oldest player on this list, and is new teammates with Devin Booker and Kevin Durant on the Suns – a team that is seen as one of the title favorites for the upcoming NBA season.
See also: The top 5 highest-paid women’s soccer players at the 2023 Women’s World Cup
The Suns guard is currently owner of a four-year contract extension worth an average of $56 million per season.
Booker, 27, is one of the best young players in the league, and has played in the NBA Finals and is a three-time NBA All-Star
The Minnesota Timberwolves frontcourt player has a four-year contract worth an average of $56 million per season; the same deal as Booker.
Towns, 28, is a three-time NBA All-Star, and has been subject to a series of trade rumors over the summer.
See also: NBA players react to reported $776 million offer for soccer star Kylian Mbappé: ‘Wtf’
Despite these eye-popping numbers, some athletes in other sports like baseball, football and soccer have even bigger contracts.
In the MLB, for example, there are 11 players who have deals worth more in total money than Brown, and one player, Mike Trout, has a $426 million contract. Patrick Mahomes holds the NFL’s biggest contract at $450 million, and Lionel Messi signed a $674 million contract with F.C. Barcelona in 2017.
Dick's cuts its earnings outlook, Lowe's reports second-quarter earnings that top analysts' estimates, VinFast shares skyrocket, and Macy's says it's taking a cautious approach to guidance.