How Many NBA Players Have $100 Million Dollar Contracts? 31 and Growing

As of the 2022-2023 NBA season, 31 current NBA players have contracts worth over $100 million in total value. This massive number shows the staggering growth in NBA salaries and contract values in recent years. Just a decade ago, $100 million deals were extremely rare. Now, nearly 10% of the league‘s players are signed to nine-figure contracts.

In this in-depth article, we‘ll analyze the rise of $100 million contracts and what‘s driving more players to join the $100M club each year. Get ready for insights on the highest paid NBA stars, a historical look at the league‘s first $100M deals, how salaries keep escalating, and my predictions for how high contracts could reach in the future. Let‘s dive in!

The 90s: NBA Contracts Start Hitting 9 Figures

The early pioneers of the $100 million contract club were some of the biggest superstars of the 90s. Shaq started the trend in 1996 with his shockingly large $121 million deal, the biggest in league history at the time. Alonzo Mourning also cashed in that same year with the Heat.

But Kevin Garnett‘s 1998 extension really shattered records, becoming the first $100M+ contract that paid over $20M per season. Many pundits slammed the deal as fiscally irresponsible. In hindsight, it paved the way for similar contracts for franchise players. Garnett‘s versatile play and fiery leadership made him well worth the money in my opinion.

The 2000s: Kobe, KG, and Other Stars Join the Club

After those first pioneering deals, $100M contracts remained exclusive to elite players over the next decade. As the salary cap and league revenues gradually rose, deals like Kobe‘s $136M andKG‘s extension pushed the thresholds even higher.

Some of the contracts during this era proved to be terrible values in retrospect. Gilbert Arenas getting $111 million in 2008 despite his injury issues is probably a contract Washington would like back. With each new deal, it was becoming clear that finding a true franchise player worth that much money is easier said than done.

2016 Cap Spike Opens Floodgates

Everything changed in 2016 when the NBA‘s massive new TV deal kicked in, causing the salary cap to spike from $70 million to $94 million in a single offseason. With that cap jump, max salaries suddenly leapt as well.

Almost overnight, going from making ~$20M to ~$30M per year, players like Lillard, DeRozan, and Conley inked massive new deals. Despite none winning an MVP or even making 1st team All-NBA at that point, the exploding cap enabled those contracts.

In my view, LeBron opting into a shorter 3-year, $100M deal rather than going for the max showed business savvy. It maintained flexibility ahead of his move to the Lakers in 2018.

Current Era: 9-Figure Deals For MVPs

Since 2016, $100M+ contracts have become routine for superstars, culminating in a flurry of massive new deals in 2022 free agency:

MVPs and proven superstars like Curry, Giannis, and Jokic have signed larger-than-ever contracts, setting new precedents with each deal. Russ‘ contract back in 2017 was heavily criticized by some. But in my view, locked up stars of his caliber are worth it, rather than losing them in free agency.

With nearly 1/3rd of the league now making over $100M, these massive deals for true game-changers seem fully normalized. Rookie extensions exceeding $100M could even be on the horizon soon for players like Luka and Zion.

Highest Single-Season Salaries

While many focus on the huge total contract values, looking at the highest single-season payouts shows just how much money flows for the top stars at their earnings peak:

Curry and Wall currently lead the way, earning nearly $50M in a single season. But Lillard‘s record-shattering extension will pay him a mind-boggling $59 million in 2026-27.

Considering Curry earned "only" $12M eight seasons ago in 2014-15, the speed of salary escalation is simply massive. I predict multiple players earning $60M per season within the next 5 years as revenues continue rising.

What‘s Driving Massive Contract Growth?

Several key factors have combined to drive this unprecedented NBA contract growth:

• Higher revenue/salary caps – Basketball Related Income (BRI) has nearly tripled over the past decade from $3.8B to $10.5B,driving caps up.
• Max salary rules – Veterans can earn 35% of the cap. Higher caps lift max earnings.
• Supermax extensions – Some stars can get 5 years and up to $270M+ total.
• Longer contracts – 5 year deals allow for bigger totals than the old 4 year max.
• Cap spikes – Periodic TV deal & revenue jumps spike the cap suddenly.
• Bird rights – Teams can exceed the cap to re-sign their players.
• Competition – Teams bid against each other for the top free agents.

As league business has boomed, so have player salaries. And various CBA rules enable massive payouts for the league‘s elite talents.

Unless those core elements change in the next CBA, I expect $200M+ contracts to become routine by 2030. The path forward points toward continually escalating salaries.

The Growing Salary Gap in the NBA

However, one downside is that a massive gap has emerged between the earnings of superstars and average players:

• In 2021-22, Stephen Curry individually earned more than the salary cap by himself at $45M.
• The median NBA salary was around $4M.
• LeBron James earned more last season than the combined salary of nearly 200 players.
• The league minimum salary was less than $1M.

While superstars are richer than ever, mid-tier veterans and end of bench players have seen their earning power stagnate. Issues like max contracts and salary cap rules have limited bargaining power for the non-elite.

As a fan, I hope the next CBA works to spread the wealth more evenly across the league. While superteams stack talent atop the NBA hierarchy, greater parity would make the on-court product even more entertaining in my view. The league has a chance to chart a more balanced course in 2024.

Projecting The Future: $500 Million Contracts?

Looking ahead, it‘s fascinating to imagine just how high NBA contracts could reach in the coming decades.

Given the league‘s rapidly rising revenue and values, I don‘t think $500 million total contracts are out of the question down the road. Consider a few projections:

• By 2030 – I predict over 100 players will have $200M+ career earnings. Multiple players will clear $70M+ in single seasons.
• By 2040 – We could see multiple players cross $1 billion in career earnings with endorsements included. Certain superstars could approach $100M in single season salary.
• By 2050 – In my boldest prediction, I foresee 2-3 players ultimately reaching $500M in total contract value at the peak of their careers as the game‘s global revenue explodes.

Those numbers might seem outrageous today. But NBA history shows that contract values once considered impossible become reality years later.

Thirty years ago, a $100M contract was unthinkable. Twenty years ago, $200M was unfathomable. Look how quickly perceptions changed. I expect that trajectory to continue in the decades ahead.

The Bottom Line

It‘s an amazing time to be an NBA superstar. With over 30 current players now in the $100 million contract club, and salaries poised to keep escalating, the league‘s elite have earning power unlike any time in history.

While fans may debate whether any single player truly deserves to be paid so handsomely, the reality is that NBA economics make massive contracts inevitable for the game‘s best talents.

Expect new record deals to be set year after year. And don‘t be surprised if we one day look back with shock at contracts hitting even a half billion dollars, just like we used to view those pioneering nine-figure deals decades ago.