As the specter of pay reductions started to rise at the start of the NBA’s hiatus, we had learned that several NBA players, including many Klutch Sports clients like LeBron James, had clauses in their contract that allowed them to get their yearly contract paid in full before the end of the season. And now that the NBA is approaching a 25% pay cut for all players starting in June, LeBron is avoiding a pay cut but he’s not avoiding losing money, especially as the NBA is looking at a massive loss in revenue, even if they crown a 2020 champion.
ESPN’s Bobby Marks detailed all the players who will have to start giving money back when they get their paychecks next season, including LeBron and Golden State Warriors star Stephen Curry.
Each player will essentially have an IOU per paycheck to his team ranging from $390,000 (James) to $420,000 (Curry) each time there is a scheduled 25% pay reduction. That amount will increase if games are eventually canceled because of the coronavirus pandemic.
So now you might see why, in addition to trying to win a championship, LeBron and other players across the league have a pretty big incentive to finish the season. However, questions of safety, as most of the NBA has opened their practice facilities, remain unanswered.
