On Tuesday, the NBA announced its new “Big Five” rules, which will create a $500 million fund for its players to invest in each other’s fortunes. The rules come on the heels of a new book, The Players’ Tribune, which shows how NBA players have used social media to pool resources for one another.
Teams in the NBA can earn $4.5 million in bonuses annually, which is one of the highest NBA salary benchmarks in the league. Durant, who was named this season’s Most Valuable Player, is now eligible for $30 million in additional salary, which could increase his total earnings to $500 million, making him the highest paid player in the NBA. The Thunder star is also eligible for a $200 million extension over the next 12 seasons, should he choose to sign it. Durant’s announcement is not only a huge financial commitment, but it’s also an endorsement of the NBA’s growing revenue, which was $5.6 billion last season.
This season, Kevin Durant is going to join the NBA’s newest fraternity, the $500 million dollar investment group that is the Golden State Warriors.. Read more about where is kevin durant from and let us know what you think.
Kevin Durant enjoyed one of the best weekends in NBA history. In Tokyo, he first guided Team USA to its fourth straight Olympic gold medal. Then he agreed to a contract extension with the Brooklyn Nets, putting him in elite company.
How exclusive are you? Durant is on pace to become the first player in NBA history to reach a major milestone. To put it another way, let’s put it this way. The NBA has come a long way from the days when players needed to work in the summer to make ends meet.
Where does Kevin Durant rank in terms of NBA earnings all-time?
Kevin Durant is presently the NBA’s sixth most paid player. Durant has earned approximately $306.17 million in guaranteed money for the years 2021–22.
Two retired players are still among the top five players. With $323.31 million in lifetime earnings, Kobe Bryant is fourth on the list. Kevin Garnett is in second place with a net worth of $334.3 million.
Chris Paul of the Phoenix Suns is in third place with a salary of $330.71 million. LeBron James, of course, is the clear frontrunner. His total earnings for his career are $387.38 million as the next season.
Russell Westbrook, James Harden, Carmelo Anthony, and Blake Griffin are among the top ten players remaining in the league. Shaquille O’Neal, who made $286.34 million in 19 seasons, is the only other retiree on the list.
Durant’s total does not include the $3,125 he received for winning the gold medal in Tokyo. According to CNBC, each gold medal won by a US Olympian is worth $37,500. In team sports, however, the incentive is split evenly among the players.
Kevin Durant’s new contract takes him into uncharted territory.
In the first half of Game 7 of the Eastern Conference second round at Barclays Center on June 19, 2021, Kevin Durant (7) of the Brooklyn Nets retrieves the loose ball as Jrue Holiday of the Milwaukee Bucks defends. | Getty Images/Elsa
Kevin Durant revealed on his Boardroom website that he has signed to a four-year, $198 million deal extension that would keep him in Brooklyn until 2025–26. Durant’s career earnings will surpass $500 million as a result of this deal.
He may not be the first one to arrive, however. James’ deal with the Lakers has two years left on it. He will be worth $431.86 million at the conclusion of his contract. Is anybody willing to gamble against James securing a $70 million bag at the age of 38?
Durant is the first of the Big Three to sign a contract deal with the Nets.
Durant could not sign an extension beyond 2025–26 since he will be 38 years old in 2026–27. As a result, Durant had no incentive to play next season and turn down his option for 2022–23. He got a better bargain than he could have gotten if he had waited. Durant essentially purchased insurance against an injury that would reduce his market worth next summer.
The Brooklyn Nets have a bright future ahead of them.
The Nets are still planning to sign Harden and Irving to contracts this summer, even if Kevin Durant has already been signed. According to the New York Post, Harden is eligible for a three-year, $161.1 million contract, while Irving is eligible for a four-year, $181.6 million extension.
Irving, on the other hand, would be better off not extending this season. Instead, he may opt out next summer and become a free agent with a five-year, $235 million contract. Due to Irving’s Bird rights, Brooklyn would be the only team allowed to offer such conditions.
The Nets’ cost of doing business is exorbitant. As of now, Brooklyn’s financial obligations for next season are projected to total more than $306 million. The anticipated luxury tax assessment is $130.43 million, in addition to the company’s $175.74 million salary.
Following the Kevin Durant-Paul Pierce deal in 2013–14, the Nets paid a record $90.57 million in luxury tax. They’re on track to break that record next season. The Nets are the offseason favorite to win the NBA championship in 2021–22, and at those costs, they’re on the verge of becoming a win-or-bust proposition.
Spotrac provided the salary statistics.
RELATED: Are Kevin Durant, James Harden, Kyrie Irving, and the Brooklyn Nets Scarier Than They Were Last Season?
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