Basketball Player Contract

A professional basketball player contract is often a guaranteed contract, meaning that if a player gets cut before their contract is up,the team is still responsible for the terms of the contract, and must continue to pay the player a salary under the contract terms. Basketball contracts are generally considered more secure than football contracts because of this. A basketball player contract usually comes with some sort of signing bonus for the player. A signing bonus is a monetary incentive used to get a player to sign a contract. The money is given to the player simply for signing the contract, and is paid in addition to the salary specified in the contract. A professional basketball player contract is usually a multi year contract with an option to extend the contract after it expires. Critics argue that professional basketball players are paid too much money, which in turn drives up the prices of tickets to basketball games, making the system unfair to fans.

Fast Facts

  • NBA player Kevin Garnett made $24,751,934 in 2008-2009.
  • In 1996, Shaquille O'Neal signed a 7 year contract with the LA Lakers worth $120,000,000 dollars.

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