The emotional reactions of working class men and women to the mind-blowing contracts bestowed on NBA free agents by wealthy owners is justifiably understandable. For those living paycheck to paycheck, and even those who fall solidly in the demographic of middle class, to follow the opening 24 hours of the free-agent frenzy through traditional or social media was a continuous exercise in disbelief and shock.
Even the most connected and knowledgeable basketball observers were somewhat incredulous as hour after hour, another deal north of $100 million was reported. Over the first day that teams and free agents could consummate agreements, which began at midnight July 1—teams cannot officially sign players and make trades until July 7—the total collective guaranteed money committed to players exceeded $1 billion. And the largess didn’t slow down for several more days.
Point guard Mike Conely ($153 million to remain with the Memphis Grizzlies), small forward Nicolas Batum ($120 million to re-sign with the Charlotte Hornets) and power forward Al Horford ($113 million to move on from the Atlanta Hawks to the Boston Celtics) are three of the roughly 20 players who seemingly were grossly overpaid.
But in essence, they received what their value is to the teams that are spending the money. It’s simply what the market dictates. July 2, the NBA announced the salary cap had jumped from $70 million last season to $94.143 for the upcoming season. The collective bargaining agreement requires that teams spend 90 percent of their cap on salaries; hence the astronomical contracts for good but far from great players.
And with the cap likely to surpass $115 million for the 2017-18 season, primarily as a result of the NBA’s new nine-year, $24 billion television deal with ESPN and TNT, the contracts of LeBron James, Kevin Durant, Stephen Curry, Russell Westbrook and other big name stars that will be free agents next summer will approach $40 million annually.
Agree or not, the players are deserving of the money. The NBA has evolved into one of the world’s foremost entertainment entities, and the league’s revenue and valuation of its franchises reflect the massive global popularity the game is experiencing.
Inarguably, the players are the engine that powers the NBA’s appeal and should be justly rewarded, perhaps with a larger share of pie.
