The NBA is one of the highest-paying sports leagues in the world, however sometimes the contracts signed by organizations end up being big mistakes
The NBA is one of the highest-paying sports leagues in the world, however sometimes the contracts signed by organizations end up being big mistakes. This happens because they face many obligations but with a lack of sports results.
There are cases like Kevin Garnett and Chris Bosh, in which big stars of the league make the decision to retire early for different reasons and their huge salaries have to be renegotiated so that the impact on the organizations is the least.
The Miami Heat currently have a payroll of $ 125M with a $ 2M luxury tax bill. They are paying Chris Bosh $ 26.84M this season although his salary does not reflect on their payroll.
– Yossi Gozlan (@YossiGozlan) April 3, 2019
Garnett left the courts in 2017 of the NBA, however thanks to a clause signed with the Boston Celtics upon his retirement and for seven years he will receive a total of $ 35 million, something that for salary cap issues has an effect on the accounts of the Massachusetts organization.
For his part, Bosh had to leave the courts after several health problems, thus leaving part of the 118 million of the last extension he signed with the Miami Heat pending. The base agreed with the organization a payment plan that to this day they still owe him almost $ 9 million.
NBA has denied the Lakers’ application to exclude Luol Deng’s salary from the team, per @ShamsCharania
Lakers owe Deng salary through 2022 pic.twitter.com/Fjxcn0JHKw
– Bleacher Report (@BleacherReport) November 26, 2020
Another well-known case in the league is that of Luol Deng, who despite not contributing much from sports to the Los Angeles Lakers after his four-year, $ 72 contract in 2016, to this day continues to receive $ 5 million per season and what will do until the 2021-22 season.
Something similar happened with Joakim Noah in the New York Knicks, who also gave him a huge $ 73 million contract in 2016, despite being a player in the twilight of his career and with injury problems. After playing just 53 games at a poor level, he is still owed about $ 6 million from his settlement today.