The NBA generated more basketball-related income than ever this past season, the total number coming up just short of $9 billion.
Nikola Jokic agreed to the biggest contract in NBA history. Bradley Beal agreed to a deal worth a quarter-billion dollars, and the money just kept flowing. Shortly three more players Karl-Anthony Towns, Devin Booker, and Ja Morant — also agreed to huge-money extensions.
Deals with players
Towns and Booker agreed to four-year deals that will commence in 2024. They are worth at least $224 million, their agent, Jessica Holtz of CAA, said. Morant will sign his first rookie extension, one that’ll be worth at least $193 million and could reach the $230 million range, according to Tandem Sports, which represents him. Those five players, Jokic, Beal, Towns, Booker, and Morant had more than $1.1 billion in money committed to them in their new deals, highlighting the moves made Thursday when the NBA’s annual free-agent negotiating window opened.
Jokic agreed to a supermax extension to remain with the Denver Nuggets, the two-time reigning MVP guaranteeing himself at least $264 million over five seasons starting with the 2023-24 campaign. The final number may go up slightly depending on what the league’s salary cap is going into the ’23-24 season and if it exceeds current projections.
Beal will make $251 million over the next five seasons after re-signing with Washington, one day after turning down $37 million for this coming season from the team with whom he’s spent the entirety of his 10-year career. Towns and Booker got their deals not long afterward, as did Morant. More big-money extensions are coming at some point, particularly rookie extensions — Miami’s Tyler Herro and New Orleans’ Zion Williamson among the names on that list.
