NBA Salaries 2024/2025: The Highest Earners in the League
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NBA Salaries 2024/2025: The Highest Earners
The new NBA season has officially begun, and the Boston Celtics aim to defend their title.
The NBA is not merely a basketball league; it represents a massive entertainment business, generating over $10.5 billion each year.
Consequently, NBA player salaries are astronomical.
Teams must navigate strict salary cap regulations, a system that many believe should be implemented in soccer as well.
In addition to their salaries, these athletes benefit from lucrative sponsorship deals, ensuring that NBA players consistently rank among the wealthiest sports figures globally.
Let’s delve into how the salary cap operates, identify the top 15 highest salaries in the NBA, and explore how sponsorship deals enhance player earnings.
Understanding the Salary Cap
As is customary in American sports, the NBA adheres to a salary cap system outlined in the most recent collective bargaining agreement signed in December 2016.
This salary cap fluctuates annually based on the NBA’s total revenue, which exceeded $10 billion last season.
Following a record $76 billion television contract over eleven years, the cap for this season is set at $140.588 million.
No team’s total player contracts can exceed this amount.
There exists a luxury tax threshold, where teams that exceed the cap are penalized starting at $1.5 for every dollar over, increasing to $3.75 for amounts exceeding $20 million.
The penalties collected from teams exceeding the salary cap are redistributed to those teams that remain under the threshold, though they must spend at least 90% of their allotted budget.
Unlike soccer, NBA teams cannot purchase player contracts outright; they can only sign players through drafts, trades, or by acquiring free agents.
Highest NBA Salaries for 2024/2025
Even with the salary cap constraints, NBA player salaries are still extraordinary.
A rookie is entitled to a minimum salary of $925,000.
Below are the 15 highest-paid NBA players for the 2024/2025 season:
- Stephen Curry, Golden State Warriors – $55.8 million
- Joel Embiid, Philadelphia 76ers – $51.4 million
- Nikola Jokic, Denver Nuggets – $51.4 million
- Bradley Beal, Phoenix Suns – $50.2 million
- Kevin Durant, Phoenix Suns – $49.9 million
- Paul George, Philadelphia 76ers – $49.2 million
- Kawhi Leonard, Los Angeles Clippers – $49.2 million
- Devin Booker, Phoenix Suns – $49.2 million
- Giannis Antetokounmpo, Milwaukee Bucks – $48.8 million
- Jimmy Butler, Miami Heat – $48.8 million
- Damian Lillard, Milwaukee Bucks – $48.2 million
- LeBron James, Los Angeles Lakers – $47.8 million
- Luka Dončić, Dallas Mavericks – $43 million
- Zion Williamson, New Orleans Pelicans – $36.7 million
- Shai Gilgeous-Alexander, Oklahoma City Thunder – $35.9 million
Stephen Curry retains the top spot, closely followed by Joel Embiid and Nikola Jokic.
Legendary players like LeBron James and Kevin Durant also feature prominently, while Danilo Gallinari remains a notable mention despite currently being a free agent after earning over $21 million with the Spurs.
Beyond Salaries: Sponsorship Earnings
In addition to their sizable salaries, NBA players also reap significant benefits from endorsement deals that can often double their total annual earnings.
This season, Stephen Curry and LeBron James are poised to be the richest NBA players with total earnings of $155.8 million and $133.7 million, respectively.
Collectively, the top 15 NBA players will earn around $1.13 billion from salaries and sponsorships, marking an 11% increase from the previous season.
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