The Most Expensive NBA Contracts of All Time!
It pays to be a sportsman!
Before 2011, the NBA functioned on the Collective Bargaining Agreement, which meant that the team owners and the NBA Players Association would bargain together to determine things like contracts, trades, and salary caps. However, when this bargaining agreement expired in 2011, the owners and players association were unable to come to a new agreement in time for the 2011-2012 season. For the first time, the NBA experienced a total lockout!
Without games going on, the NBA was losing a lot of revenue. The two parties scrambled to work something out and, after no less than 161 days, the games started again on December 25, 2011. There were some changes with the new agreement, though. No longer would the players receive in the insanely massive contracts they were used to getting. Players now only get about 49-50% of total NBA revenue, as opposed to the 57% they earned before.
Though many NBA players no longer have contracts this big, that’s not to say that they aren’t making any money! Many basketball players still enjoy insanely lucrative contracts. Take a look at the top ten most expensive NBA contracts in history!
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