Introduction
The NBA is the most popular sport in North America and arguably the world. So what are some of the salaries for players in the NBA?
Basketball Salaries
The NBA has a strange way of paying its players. Unlike other organizations such as Major League Baseball, Major League Soccer, and Major League Hockey, the NBA has no salary cap. In a nutshell, it means that their team’s owners can pay each player any amount they want.
NBA Player Salaries by Team
The salaries range from $6.3 million to the maximum of $35 million for the top-paid player in the NBA. As of 2016, only 33 NBA players got paid over $20 million a year, and only one got paid over $30 million a year.
The Highest Paid NBA Players
The highest-paid NBA players usually play for teams with a high national television number. The top five highest-paid players include Lebron James, Kevin Durant, Kobe Bryant, and Stephen Curry.
Salary Cap and Other Sales Taxes in the NBA
The NBA has a salary cap set at $50 million. This cap prevents owners from spending more than that on players in one season and encourages team growth by rewarding teams for drafting and developing players, who often become free agents and play for the highest bidder. Other NBA taxes include luxury tax, franchise tax, jock tax, and player option tax.
Why do NBA players get paid so much?
NBA players make different amounts of money. Some people earn as little as $55,000 in the NBA, and others can make over $18 million, which the average player makes per year. The average NBA player gets paid around $92,000 a year, equivalent to about $7 million for an entire career.
Conclusion
The NBA is a league where athletes can earn the most money in sports, but the top players still have to split their salaries. The highest-paid players make around $30 million for the National Basketball Association players. The minimum wage is around $500,000 a year; for example, LeBron James has about $400 million and makes about $30 million per year.
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