The financial landscape of the NBA is nothing short of astonishing. The league has seen its fair share of monumental contracts, some of which have changed the economic dynamics of professional basketball. When you consider the sheer size of these deals, it's almost unfathomable how much teams are willing to invest in their top talents. A player like Michael Porter Jr., for example, who has never graced an All-Star team and perhaps never will, is comfortably sitting on a 5-year, $179 million contract with the Denver Nuggets. The lack of uproar surrounding this contract today stands in stark contrast to the controversy that surrounded Kevin Garnett’s $126 million deal back in 1998. The difference in perception is largely due to the evolving financial context of the NBA, influenced by factors such as player age, team composition, and the front office's spending strategy.
1. Jaylen Brown, Boston Celtics SG/SF: $304,000,000
Type: Designated Veteran Player Extension (“supermax”)
Years: 5 (2024-29)
Average Annual Value (AAV): $60,800,000
Years: 5 (2024-29)
Average Annual Value (AAV): $60,800,000
Leading the pack with the highest contract in NBA history is Jaylen Brown of the Boston Celtics. His extension, which totals a staggering $304 million over five years, initially set the record for the highest average annual value (AAV) until it was surpassed by Anthony Davis. This contract, which marks the first NBA deal to exceed an AAV of $60 million per season, underscores Brown’s essential role in the Celtics’ future aspirations. Brown's value is not just measured in points or assists, but in his ability to lead and inspire his team towards greatness. The Celtics are clearly betting big on Brown, hoping that his contributions will lead them back to championship glory.
2. Nikola Jokić, Denver Nuggets C: $270,000,000
Type: Designated Veteran Player Extension (“supermax”)
Years: 5 (2023-28)
Average Annual Value (AAV): $54,404,000
Years: 5 (2023-28)
Average Annual Value (AAV): $54,404,000
Next on the list is the Denver Nuggets' cornerstone, Nikola Jokić. The reigning MVP’s supermax extension worth $270 million over five years reflects his invaluable contribution to the franchise. Jokić’s contract ensures that the Nuggets retain their MVP through 2028, securing a player who has redefined the center position with his playmaking ability and versatility. Jokić’s presence on the court is transformative, and this deal guarantees that the Nuggets remain competitive in the fiercely contested Western Conference.
3. Bradley Beal, Washington Wizards/Phoenix Suns SG: $251,000,000
Type: 35% Veteran Max Extension
Years: 5 (2022-27)
Average Annual Value (AAV): $50,203,930
Years: 5 (2022-27)
Average Annual Value (AAV): $50,203,930
Bradley Beal’s $251 million extension with the Washington Wizards was a significant investment in their star shooting guard, aimed at cementing his role as the central figure in the team's long-term strategy. However, the landscape shifted dramatically in the 2023 preseason when the Wizards traded Beal to the Phoenix Suns. This move was a clear indication of the franchise’s new direction, and for Beal, it meant joining a team with a more immediate championship trajectory. The Suns are now positioned to leverage Beal’s scoring prowess in their pursuit of an NBA title.
4. Giannis Antetokounmpo, Milwaukee Bucks PF: $228,200,420
Type: 35% Designated Veteran Player Extension (“supermax”)
Years: 5 (2021-26)
Average Annual Value (AAV): $45,640,084
Years: 5 (2021-26)
Average Annual Value (AAV): $45,640,084
Giannis Antetokounmpo’s supermax extension with the Milwaukee Bucks is another monumental deal, ensuring that one of the league’s premier talents remains with the team through 2026. The two-time MVP’s contract, totaling over $228 million, is a testament to his critical role in the Bucks’ ongoing success. Giannis, with his unique blend of size, speed, and skill, has become the face of the franchise and a symbol of Milwaukee’s championship ambitions. This contract reflects the Bucks’ commitment to building around their superstar and maintaining their status as contenders in the NBA.
5. Devin Booker, Phoenix Suns SG: $224,000,000
Type: 35% Designated Veteran Player Extension (“supermax”)
Years: 4 (2024-28)
Average Annual Value (AAV): $56,056,000
Years: 4 (2024-28)
Average Annual Value (AAV): $56,056,000
Devin Booker’s supermax extension with the Phoenix Suns, tying him for the fifth-largest contract in NBA history by total value, is a significant commitment to one of the league’s brightest young stars. This four-year, $224 million deal emphasizes Booker’s importance as the cornerstone of the Suns’ franchise. With an AAV exceeding $56 million, the Suns are clearly placing their bets on Booker to lead them into a new era of success. His scoring ability and leadership are seen as vital components for the team’s future prospects.
5. Karl-Anthony Towns, Minnesota Timberwolves PF: $224,000,000
Type: 35% Designated Veteran Player Extension (“supermax”)
Years: 4 (2024-28)
Average Annual Value (AAV): $56,056,000
Years: 4 (2024-28)
Average Annual Value (AAV): $56,056,000
Matching Booker’s contract in value, Karl-Anthony Towns’ supermax extension with the Minnesota Timberwolves is another testament to the evolving financial landscape of the NBA. This deal, also totaling $224 million over four years, underscores Towns’ pivotal role in Minnesota’s future plans. The Timberwolves are banking on Towns’ leadership and talent to drive the team’s ambitions forward. His ability to stretch the floor as a big man and his defensive prowess make him a key asset for the Timberwolves as they aim to rise in the competitive Western Conference.
The evolution of NBA contracts reflects the league’s growth and the increasing value placed on top-tier talent. From Jaylen Brown’s record-breaking deal to the substantial investments in players like Jokić, Beal, Giannis, Booker, and Towns, it’s clear that teams are willing to spend big to secure their future.
These contracts not only highlight the financial muscle of the NBA but also the strategic importance of building around core players who can lead their franchises to success. As the league continues to evolve, so too will the contracts, with each new deal setting a benchmark for the next.