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Big bucks rolling in for idle top stars
Source: Agencies |
November 20, 2011, Sunday
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THE National Basketball Association season may be in danger of being wiped out by a bitter labor dispute already five months old but the big bucks will keep rolling in for LeBron James, Kobe Bryant, Dwyane Wade and a select few of the game's biggest stars.
While some players might be left counting the cost of the lockout with their average annual salaries of US$5 million on hold, at least 10 of the sport's marquee players will be earning at least that much in off-court endorsements, regardless of whether they play or not, according to Forbes.com.
At the top of the rich list is James, the Miami Heat forward who will collect US$33 million in endorsement money for the season, twice his annual salary, Forbes reported.
Los Angeles Lakers guard Bryant, who was set to reel in the league's highest salary this season at US$25.2 million, would also fare well with estimated off-court endorsements of US$28 million.
James' Miami Heat teammate Wade has also found success on and off the court. The guard should collect US$12 million in endorsement money even without his US$15.5 million salary for the 2011-12 season.
Shoe and apparel companies, soft drinks, airlines and a variety of other entities help make the big paychecks possible while escrow money from the 2010-11 season that was withheld from NBA players' paychecks will help boost the totals.
Players will share more than US$190 million in escrow money because team owners did not spend 57 percent of basketball-related income, as required in the collective bargaining agreement that expired on June 30.
Extra US$2 million
For Bryant, that would mean an extra US$2 million, Forbes said.
Other members of the US$5 million endorsement club include Orlando Magic center Dwight Howard (US$11 million in deals) and Oklahoma City Thunder forward Kevin Durant (US$9 million). New York Knicks forwards Carmelo Anthony and Amar'e Stoudemire are not far behind. Both have deals worth US$8 million.
New Orleans Hornets guard Chris Paul will earn US$6 million and Boston Celtics forward Kevin Garnett and Washington Wizards guard John Wall will each collect US$5 million off the court.
Many players, including some of the league's richest, also are looking to supplement their income with deals with professional basketball teams in Europe and elsewhere, including China, should there not be an NBA season.
League owners locked out the players on July 1 after negotiations on a new CBA failed. After weeks of trying to find common ground on a new agreement, the players dissolved their union last Monday and began filing antitrust lawsuits.
The owners responded by cancelling games through mid-December.
They claim the NBA lost US$300 million last season with 22 of its 30 teams in the red and have demanded a reduction in the players' share of income, which was 57 percent under the prior deal. They also want a firm salary cap and shorter contracts.
Their final offer, which called for a 50-50 split of basketball-related income, was rejected by union leaders.
While some players might be left counting the cost of the lockout with their average annual salaries of US$5 million on hold, at least 10 of the sport's marquee players will be earning at least that much in off-court endorsements, regardless of whether they play or not, according to Forbes.com.
At the top of the rich list is James, the Miami Heat forward who will collect US$33 million in endorsement money for the season, twice his annual salary, Forbes reported.
Los Angeles Lakers guard Bryant, who was set to reel in the league's highest salary this season at US$25.2 million, would also fare well with estimated off-court endorsements of US$28 million.
James' Miami Heat teammate Wade has also found success on and off the court. The guard should collect US$12 million in endorsement money even without his US$15.5 million salary for the 2011-12 season.
Shoe and apparel companies, soft drinks, airlines and a variety of other entities help make the big paychecks possible while escrow money from the 2010-11 season that was withheld from NBA players' paychecks will help boost the totals.
Players will share more than US$190 million in escrow money because team owners did not spend 57 percent of basketball-related income, as required in the collective bargaining agreement that expired on June 30.
Extra US$2 million
For Bryant, that would mean an extra US$2 million, Forbes said.
Other members of the US$5 million endorsement club include Orlando Magic center Dwight Howard (US$11 million in deals) and Oklahoma City Thunder forward Kevin Durant (US$9 million). New York Knicks forwards Carmelo Anthony and Amar'e Stoudemire are not far behind. Both have deals worth US$8 million.
New Orleans Hornets guard Chris Paul will earn US$6 million and Boston Celtics forward Kevin Garnett and Washington Wizards guard John Wall will each collect US$5 million off the court.
Many players, including some of the league's richest, also are looking to supplement their income with deals with professional basketball teams in Europe and elsewhere, including China, should there not be an NBA season.
League owners locked out the players on July 1 after negotiations on a new CBA failed. After weeks of trying to find common ground on a new agreement, the players dissolved their union last Monday and began filing antitrust lawsuits.
The owners responded by cancelling games through mid-December.
They claim the NBA lost US$300 million last season with 22 of its 30 teams in the red and have demanded a reduction in the players' share of income, which was 57 percent under the prior deal. They also want a firm salary cap and shorter contracts.
Their final offer, which called for a 50-50 split of basketball-related income, was rejected by union leaders.
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