The excitement is building as the 2024/25 National Basketball Association (NBA) season approaches. Teams across the league are fine-tuning their rosters, with training camps underway and preseason preparations in full swing.
As fans gear up for what promises to be another thrilling season, one topic that always grabs attention is the financial side of the NBA. With salaries skyrocketing and record-breaking contracts being signed, we take an in-depth look at the average NBA salaries, the highest-earning players, and the most lucrative contracts ahead of the new season.
According to Basketball Reference, the average salary for a player in the NBA during the 2024/25 season is $11,910,649. This figure has seen a significant increase from the previous year, jumping up by $9.4 million from the 2023/24 season.
This rise reflects not only the ever-growing popularity of the league but also the increasing value of NBA media rights, endorsements, and sponsorships, all of which contribute to the financial growth of the teams and, consequently, the players.
Despite this impressive average, it’s important to highlight the disparity in earnings across the league. While the average salary might seem high, not every player enjoys the same level of compensation. The minimum salary an NBA player will earn during the 2024/25 season is approximately $1,157,153, a stark contrast to the top earners in the league. Players in the league's top echelon earn significantly more, showcasing the divide between role players and superstars.
The jump in average salary is reflective of the overall financial health of the NBA. Over the past decade, the league has seen a steady rise in revenue, driven by lucrative television deals, global market expansion, and merchandise sales. These factors have contributed to salary cap increases, allowing teams to spend more on their rosters.
For example, in the 2014/15 season, the average salary was $4.5 million. Fast forward ten years, and we’re now looking at nearly $12 million on average, a clear indication of the league's upward trajectory.
When it comes to individual earnings, no one in the NBA commands a higher salary than Golden State Warriors superstar Stephen Curry. The two-time MVP will earn an eye-watering $55.76 million during the 2024/25 season, making him the highest-paid player in the league.
Highest Paid NBA Players last 8 Seasons:
— TheWarriorsHouse (@GSWarriorsHouse) September 15, 2024
17-18: Stephen Curry ($34.7M)
18-20: Stephen Curry ($37.5M)
19-20: Stephen Curry ($40.2M)
20-21: Stephen Curry ($43M)
21-22: Stephen Curry ($45.8M)
22-23: Stephen Curry ($48M)
23-24: Stephen Curry ($52M)
24-25: Stephen Curry ($55.7M) pic.twitter.com/aeQfV4ejcQ
Curry’s massive contract is a reflection of his contributions both on and off the court, where he has revolutionized the game with his shooting prowess while also being a global ambassador for the sport.
While Curry leads the pack, several other players are close behind him in terms of salary. As of the upcoming season, only four other players will earn more than $50 million annually:
These five players represent some of the best talent in the league, and their salaries reflect their status as franchise cornerstones. Jokic, the reigning Finals MVP, has proven his worth as the leader of the Denver Nuggets, while Embiid continues to dominate as one of the top big men in the game. Durant and Beal, now teammates in Phoenix, will look to bring a championship to the desert, and their salaries show just how much the Suns value their talents.
In addition to the top five earners, there is a growing list of players who will make more than $40 million during the 2024/25 season. In fact, 27 players are expected to earn over $40 million this year, a testament to how the league's financial structure rewards elite performance. This includes stars like LeBron James, Giannis Antetokounmpo, and Luka Doncic, who all contribute immensely to the league's global popularity.
While Stephen Curry may be the highest-paid player for the upcoming season, the title of the largest contract in NBA history goes to Boston Celtics forward Jaylen Brown. Following a stellar 2022/23 campaign, Brown signed a record-breaking five-year, $304 million contract extension with the Celtics, making him the highest-paid player in league history in terms of total value.
Brown’s contract is not just notable for its size but also for its implications on future contract negotiations for other star players. Brown’s deal includes escalating salaries over the duration of the contract, starting at $49.7 million in the 2024/25 season and culminating in a whopping $65.6 million in the 2028/29 season. This type of contract structure, where players earn more as the salary cap increases, could become more common in the coming years as teams look to lock down their stars for the long term.
Breaking Down Jaylen Brown's Contract:
Brown’s massive contract sets the tone for other players looking for similar deals, particularly those entering their prime years. As more superstars sign max extensions, the financial landscape of the NBA will continue to evolve, with the salary cap rising in response to the league's booming revenue streams.
With these soaring salaries, teams must navigate the NBA’s salary cap, which dictates how much they can spend on player contracts. The cap for the 2024/25 season is expected to be around $141 million, with a luxury tax threshold of $172 million. Teams that exceed the luxury tax threshold must pay penalties, making roster management a delicate balancing act.
For teams with multiple high-earning players, like the Phoenix Suns or Golden State Warriors, luxury tax payments can quickly add up. These teams, often referred to as "tax teams," are willing to pay these fines to keep their star-studded rosters intact in hopes of competing for championships. However, for smaller-market teams with less financial flexibility, managing player salaries can be more challenging, as they try to remain competitive without exceeding the luxury tax.
As the NBA continues to grow in popularity globally, player salaries are climbing to unprecedented heights. The 2024/25 season will feature an average salary of nearly $12 million, with top players like Stephen Curry and Jaylen Brown setting new benchmarks for individual earnings.
The league's financial boom has resulted in record-breaking contracts, and teams are navigating the challenges of managing their payrolls while staying competitive in a league where star power is crucial.
For fans, the rising salaries are a testament to the success and entertainment value that the NBA provides. With the new season just around the corner, all eyes will be on the court—and on the players cashing in on their massive contracts. Stay tuned with all the latest updates, and don’t forget to sign up today to Asia’s most trusted online sports gaming platform, for all your sports news and betting needs.
