LeBron James has had a sparkling resume on the court since entering the NBA as “The Chosen One” in 2003 at the age of 18. Highlights include becoming the league’s all-time scoring leader, reaching the NBA Finals 10 times, winning 4 NBA championships and being named to 13 All-NBA teams.
Somehow, his off-field play may be even more shocking. By the end of this season, James’ career salary and endorsement income is expected to reach $1.4 billion, second only to Michael Jordan, Tiger Woods and Cristiano Ronaldo. He built a deep ownership structure in the company and founded a school in his hometown of Akron, Ohio.
More from Sportico.com
James will earn approximately $128 million this season, 25% more than any other NBA player.
NBA stars are reaping the rewards from soaring player salaries and the ability to become global brands. The top 15 players will earn more than $1 billion this season, 34% of which will come from off-field earnings. After James, Stephen Curry ($101.9 million), Giannis Antetokounmpo ($90.6 million), Kevin Durant ($88.4 million) and Klay Thompson ($64.2 million) ranked Ranked in the top five.
James and Curry remain must-see TV throughout their careers; they won six MVPs and reached the NBA Finals 16 times in eight years from 2008-09 to 2015-16. That’s one reason marketers favor the two stars, whose off-court earnings are estimated at $80 million (James) and $50 million (Curry), respectively, among the highest in the sport.
The Los Angeles Lakers and Golden State Warriors both made the playoffs after the regular season ended last season. The NBA’s television partners were even more excited when they both won first-round series against higher-seeded teams. Their matchup was the most watched semifinal series on television in the past 30 years.
James’ endorsement portfolio includes AT&T, Beats, Crypto.com, GMC and PepsiCo, while Curry endorses Callaway, CarMax, Rakuten and Subway. Like most NBA stars, the most important deal between the two is the sneaker contract. James signed a lifetime contract with Nike in 2019, paying more than $30 million per year. In April, Curry extended his long-term partnership with Under Armor; he became President of the UA Curry Brand, and the company announced that the four-time NBA champion would expand his involvement with the company to include golf, women’s and youth categories. As part of the deal, he received $75 million worth of restricted stock units that vest in 2029 and 2034.
James, Curry and Durant have long since moved beyond just cashing endorsement checks and are building multi-pronged businesses. James’ biggest asset is SpringHill, which includes production company SpringHill Entertainment, media platform Uninterrupted and brand consultancy Robot. In 2021, SpringHill sold a minority stake to a consortium led by RedBird Capital Partners, which valued the company at $725 million.
Curry founded Unanimous Media in 2018 to focus on “family, faith and sports-based” content. He established “Underrated Tours” for basketball and golf to give overlooked young talents a venue to showcase their skills. Curry joined James in the spirits game this year, launching his own brand of Kentucky straight bourbon whiskey, Gentleman’s Cut. In 2020, James invested in Lobos 1707 Tequila.
In April, Durant received a lifetime contract from Nike, joining LeBron and Jordan as the only NBA players to have such contracts. KD founded 35V in 2016 with business partner Rich Kleiman, whose Boardroom media network covers sports, entertainment and culture. Durant’s sports-focused investments include Athletes Unlimited, Gotham FC, League One Volleyball, Philadelphia Union, Premier Lacrosse League, National Cycling League, Major League Pickleball and TMRW Sports.
The NBA season kicks off next Tuesday and all eyes will be on French teenage phenom Victor Wembanyama, but he’ll have to wait a few years before he joins the ranks of the highest-paid players. The NBA caps all individual salaries, but rookie salary levels are thousands of dollars less than a player’s second contract salary. Wembanyama is expected to earn $55 million over the next four years; meanwhile, Anthony Edwards, LaMelo Ball and Tyrese Haliburton — All members of the 2020 draft class – who signed five-year contract extensions this summer worth $206 million each – could make as much as $250 million depending on how they perform this season.
The NBA’s salary cap changes in tandem with revenue, and players are entitled to half their salary. The contract range is a “supermax” deal that provides 35 percent of the cap for players with at least 10 years in the league or players with seven years of experience who have won some of the league’s top awards.
Jaylen Brown is eligible to re-sign with the Boston Celtics after being named to the All-NBA Second Team last season. The seven-year veteran signed a five-year, $288 million contract, the richest in NBA history; the extension begins next season. His teammate Jayson Tatum will almost certainly receive a larger supermax contract next summer when he becomes eligible as the salary cap increases.
42 NBA players are expected to have pre-incentive salaries of at least $30 million this season, including Curry’s $51.9 million. By comparison, the NFL has 15 players worth $30 million and MLB has 14 players.
method
sports Estimate off-court revenue for the 2023-24 season by talking to people familiar with NBA endorsement deals. Also included are royalties from sneaker deals, as well as income from celebrity-related memorabilia, appearances, media and business. We exclude investment income unless it is related to an endorsement agreement. These figures are before taxes and any agent fees.
The salary is the base salary for the season and does not include any postseason bonuses or incentives — most of these players are on max contracts that do not include incentives. We also did not deduct the 10% escrow payment withheld from the contract to ensure proper revenue distribution as provided for in the collective bargaining agreement. Outside of COVID-19-impacted seasons, much of the escrow account is typically returned to players as league revenue soared over the past decade.
Sportico.com Featured
Click here to read the full article.