Don’t Slip in the NBA Draft
The NBA Draft is tonight (7pm EST, 4pm PST), and these future pro-athletes better hope they get drafted high. Because if they don’t, they will lose a ridiculous amount of money. This is especially true if one of these guys slip to the second round. They can go from guaranteed millionaire to Home Depot cashier.
Ben Simmons, last year’s number 1 pick by the Philadelphia 76ers, signed a four-year contract worth up to $26.6 million and $12.1 million guaranteed. Meanwhile, the 16th pick in the draft “only” received a deal worth $9.1 million with $3.9 million guaranteed. Yes, yes. He’s still a millionaire. But that is a drastic loss of income based on when someone calls your name.
The real life-changing loss of potential earnings comes from being drafted in the second round. A player could score anywhere from $5 million to $0. This chart shows the large variance in contracts by players picked in last year’s NBA draft.
Markelle Fultz and Lonzo Ball are pretty much locks to be the first two picks. So their income worries are nonexistent. Guys like Josh Jackson, Jayson Tatum, De’Aaron Fox, and Dennis Smith Jr. could say bye-bye to upwards of $10 million based on where they go in the top 10.
Devil’s advocate tho, all these guys could play amazing for a couple years then get a new deal worth hundreds of millions of dollars. So I don’t feel too bad for them.
Source: Business Insider