Highest paid nba player free#
Next, the bi-annual exception can be used by teams every other year to sign a free agent(s) for up to two years at an amount set by the NBA. Another exception, known as the mid-level exception, allows for teams that are over the salary cap to sign one or more players as long as they do not exceed the total amount of the average NBA salary. The Larry Bird exception, more commonly known as Bird Rights, allows teams to re-sign a current player only if he has played for that particular team for a minimum of three years. Īn exception is necessary to sign a player for a contract that would exceed the salary cap threshold of the "soft cap". The salary cap is determined during the offseason, but as stated earlier, it is liable to change. However, the NBA uses a "soft" salary cap, which means that significant "salary exceptions" allow NBA teams to exceed their allotted amount in order to sign players. The NBA salary cap is the maximum dollar amount each NBA team can spend on its players for the season. Michael Jordan, who earned $33,140,000 in the 1997–98 NBA season, attempts a slam dunk at the old Boston Garden.īeginning in the 1984–85 NBA season, the NBA's first salary cap was introduced. Stephen Curry became the first player to eclipse $40 million per year when he signed a record 5-year contract worth $201 million in 2017, starting with $34,682,550 in the 2017-18 season and ending with the largest earnings in the 2021-22 season with a record payout of $45,780,966, If his contract continues Curry is expected to be the first player to eclipse $50 million in the (2023-24) season. LeBron James became the third in the 2016–17 season. Kobe Bryant became just the second player to reach $30 million when the 2013–14 season began. Michael Jordan was the first NBA player to sign a contract worth over $20 million and in fact it exceeded $30 million as well in a season (1996-97) and (1997-98) where he earned $33,140,000 this was a record he had held for 20 years. Patrick Ewing became the first player to earn $15 million or more in the 95-96 season with a salary of $18,724,000. Magic Johnson became the first player to earn $10 million or more in the 94-95 season with a salary of $14,660,000. Larry Bird was the first player to earn $5 million or more with a salary of $7,070,000 in the 1991-92 season. The highest-paid NBA players by season has recently eclipsed $40 million.
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