NBA Offseason Sees Record Contracts and Salary Booms
As the NBA offseason unfolds, teams are locking in their star players with some of the most lucrative deals in league history. This trend reflects the booming business of the NBA, driven by increasing broadcasting deals, global viewership, and merchandise sales. The latest centerpiece in this escalating financial landscape is Boston Celtics' forward Jayson Tatum.
Jayson Tatum's Historic Deal
The Boston Celtics are reportedly finalizing the largest contract in NBA history with Jayson Tatum. The deal is set to be a five-year, $314 million supermax contract, set to commence in the 2025-26 season. This groundbreaking contract surpasses the previous record held by Tatum's teammate, Jaylen Brown. With an average annual value (AAV) of roughly $62.8 million, Tatum's contract is the richest in terms of total value in league history.
Jaylen Brown signed his own five-year, $285 million supermax deal last season, which will kick off in the 2024-25 season. Brown's contract will make him the highest-paid player in the league for that year with an AAV of $57.1 million. Both Tatum and Brown's deals underline the Celtics' commitment to maintaining a strong championship-contending roster while managing substantial payrolls.
Other High-Profile Contracts
Boston is not alone in its willingness to invest heavily in its stars. The Philadelphia 76ers have recently inked Paul George to a substantial four-year, $211.58 million contract, with an AAV of $52.3 million. Joel Embiid, another cornerstone of the 76ers, commands a high salary of $53.3 million annually under his current deal, emphasizing the team's financial commitment to its core players.
Big names across the league are also seeing significant pay raises. Anthony Davis and Giannis Antetokounmpo are set to receive substantial raises with their three-year extensions, each bringing in more than $58 million annually, beginning in the 2025-26 season. These figures reflect the stars' on-court contributions, their marketability, and their brand strength off the court.
Emerging Deals and Extensions
Looking ahead, Luka Doncic is on the cusp of becoming eligible for a supermax extension next summer, which could further shake up the financial landscape of the NBA. Meanwhile, some players have already locked in their extensions. Nikola Jokic, for example, signed a five-year, $276 million deal with the Denver Nuggets in 2022, while Bradley Beal signed a five-year, $251 million contract before being traded to the Phoenix Suns. Anthony Edwards secured his future with the Minnesota Timberwolves by signing a five-year, $244 million extension following his second All-Star appearance and first All-NBA nod.
Rookie Max Extensions and Veteran Deals
The Indiana Pacers are also betting on a bright future by signing Tyrese Haliburton to a five-year rookie max extension. Haliburton's contract increased to around $245 million following his All-NBA Third Team selection. Meanwhile, Devin Booker and Karl-Anthony Towns each signed four-year, $220 million extensions in 2022, solidifying their roles as key players for their respective teams.
Veteran star Stephen Curry remains a high-earner with a four-year, $215 million deal secured in August 2021, ensuring that the Golden State Warriors retain one of the league's most marketable and successful players. Similarly, veterans like Joel Embiid and Kawhi Leonard continue to draw high salaries thanks to their recent extensions.
Balancing Act for NBA Teams
The rise in player salaries highlights the flourishing business dynamics of the NBA. With broadcasting deals, increasing global viewership, and strong merchandise sales, teams are not hesitant to invest heavily in their on-court talent. However, maintaining a championship-contending roster while managing enormous payrolls remains a delicate balancing act for franchises.
This NBA offseason is not only redefining financial records but also setting new standards for player contracts. As Jayson Tatum prepares to embark on his historic deal with the Celtics, it becomes clear that the business of basketball is more robust than ever. Teams continue to show a willingness to financially reward their stars, acknowledging their invaluable contributions both on and off the court.