The story behind the high income and high benefits of NBA players
The NBA is the most famous basketball league in the world and one of the most commercially valuable sports leagues. NBA players not only enjoy the attention and affection of fans around the world, but also have coveted income and benefits. According to the sportico website, 13 of the 50 highest-paid athletes in history are from the NBA, with Jordan reaching $1.93 billion and Harden at $435 million, and that number is growing.
The high income and high benefits of NBA players are the result of the successful commercial operation of the NBA. The NBA's partnerships with broadcasters, sponsors, fans, and others create significant economic benefits, much of which is passed back to players. In 2013, the NBA signed a nine-year, $24 billion broadcast contract with broadcasters, and by 2025, the total broadcast contract will reach more than $70 billion, and the player's income will increase even further.
The income of NBA players is mainly made up of two parts: salary and endorsements. Wages are determined based on a player's ability, status, years, and other factors, and each player has a maximum salary cap and a minimum salary cap, and it grows every year as the NBA's revenue grows. Endorsements are determined based on the player's popularity, image, market value and other factors, and each player can sign endorsement contracts with various brands, companies, institutions, etc., so as to obtain additional income.
In addition to income, NBA players enjoy a variety of benefits, one of the most important of which is retirement benefits. Retirement benefits are a system established by the NBA to ensure the quality of life of players after retirement, as long as players have played in the NBA for more than three seasons, they can apply for retirement benefits after retirement, and the amount of retirement benefits is determined according to the player's years of service and age.
Specifically, the rules for calculating retirement benefits are as follows:
If the player claims at the age of 45, then he can receive $532.2 per month× 2/3 of the number of years of service (3-10 years×) (note: the maximum is 10 years, and the additional ones will not be supplemented)
If the player claims at the age of 50, then he will receive $532.2 per month × years of service (3-10 years)
If a player claims at the age of 62, he will receive 1666.7 years of service (3-10 years) per month×
This rule is not set in stone, as the NBA's income level increases, the base of retirement benefits will also increase, according to US media reports, the current calculation rule for 45 and 50 years old has been increased from $306.34 to $532.2.
It is worth mentioning that according to the latest collective bargaining agreement, if a player only signs a "10-day short contract" or "two-way contract" with the team before February 2 of each season, then this season is not counted as the number of years of service, and the player's retirement benefits are only related to the number of years, and have nothing to do with the player's performance and ability level.
In the history of Chinese basketball, there are six players who have played in the NBA for more than three seasons: Wang Zhizhi, Battle, Yao Ming, Yi Jianlian, Sun Yue and Zhou Qi. Among them, Sun Yue and Zhou Qi have been with less than three years, so they cannot receive retirement benefits, while the other four players can enjoy this benefit after retirement, so how much can they receive?
Wang Zhizhi: Wang Zhizhi is the first Asian player to land in the NBA, he played five seasons in the NBA, playing for the Mavericks, Clippers and Heat, and his retirement benefits are as follows:
If you apply at the age of 45, you can receive: $532.2×5×2/3≈1775 per month, which is about $21,300 per year
If you apply at the age of 50, then you can receive: $532.2×5≈2661 per month, about $31,932 per year
If you apply at the age of 62, you can receive: $1,666.7×5≈8334 per month, about $100,000 per year
Battle is the second Chinese player to land in the NBA, he played three seasons in the NBA, playing for the Nuggets, Spurs, Raptors and Magic, and his retirement benefits are as follows:
If you apply at the age of 45, then you can receive: $532.2×3×2/3≈1064 per month, about $12,770 per year
If you apply at the age of 50, then you can receive: $532.2×3≈1597 per month, about $19,164 per year
If you apply at the age of 62, you can receive: $1666.7×3≈5000 per month, about $60,000 per year
Yao Ming: Yao Ming is Asia's first NBA champion, he played in the NBA for eight seasons, all with the Rockets, and his retirement benefits are as follows:
If you apply at the age of 45, you can receive: $532.2×8×2/3≈2842 per month, about $34,104 per year
If you apply at the age of 50, you can receive: $532.2×8≈4257 per month, about $51,084 per year
If you apply at the age of 62, you can receive: $1,666.7×8≈13,334 per month, about $160,000 per year
Yi Jianlian: Yi Jianlian is the fourth Chinese player to land in the NBA, he played in the NBA for five seasons with the Bucks, Nets, Wizards and Lakers, and his retirement benefits are as follows:
If you apply at the age of 45, then you can receive: $532.2×5≈2661 per month, about $31,932 per year
- If you apply at the age of 62, you can receive: $1,666.7×5≈8334 per month, about $100,000 per year
As you can see from the above data, the retirement benefits of NBA players are not low, especially for those players who have been with them for a long time, they can still enjoy a good income after retirement, and these incomes can be obtained without any labor, which is equivalent to a kind of passive income. Of course, these earnings may not be much for those who have made a lot of money in the past, but they are a lot of money for players who have only played for a few years or only received a base salary.
However, the retirement benefits of NBA players are not all smooth sailing, and there are some risks and pitfalls. First of all, the amount of retirement benefits is based on the inflation rate and price level in the United States, and if there is a crisis or recession in the American economy, then the real purchasing power of retirement benefits will decrease, and the payment of retirement benefits may also be affected. Secondly, the claim for retirement benefits is conditional, the player must submit an application to the NBA within two years of retirement, otherwise he will lose this right, and the player must stop participating in any professional basketball game within six months of retirement, otherwise it will be considered a comeback, and the retirement benefit will be suspended or cancelled. Finally, there is a time limit for receiving retirement benefits, players can only receive them until the age of 62, and the longer they are received, the less amount they will receive, so players must plan their retirement life reasonably and cannot rely too much on retirement benefits.
In short, the high income and high benefits of NBA players are the rewards for their playing in the NBA, and they are also the guarantee after they retire, but these income and benefits are not eternal, nor are they worry-free, players need to have the right financial concepts, reasonable arrangement of their wealth, in order to truly enjoy the happiness and glory that the NBA brings them.
The latest NBA rankings: The Lakers rose to 8th, the Warriors missed the chance to overtake the Suns, and the Mavericks were tied by the Pelicans
The NBA regular season has come to an end, and the competition in the West is still fierce, with teams such as the Lakers, Warriors, Suns, Mavericks and Pelicans all battling for a playoff spot. In yesterday's game, the Lakers defeated the Raptors, the Warriors lost to the Thunder, the Suns lost to the Rockets, the Mavericks lost to the Cavaliers, and the Pelicans beat the Grizzlies. The results of these matches have had a significant impact on the standings in the West, so let's take a look at the latest standings.
The Lakers moved up to No. 8
The Lakers finally regained their winning feel after a slump when they beat the Raptors 121-114 in yesterday's game to snap a two-game winning streak and end the Raptors' four-game winning streak. The Lakers' core players James and Davis both had excellent performances, James scored 28 points, 9 rebounds and 8 assists, and Davis contributed 17 points, 7 rebounds and 6 assists.
The Lakers' bench players also played an important role, with Kuzma and Caruso scoring 15 and 13 points, respectively, to help the Lakers pull away in the fourth quarter. The Lakers' victory took their record to 38-30 and moved them up to 8th place in the West, surpassing the Mavericks and just 0.5 wins away from the Trail Blazers in 7th.
The Lakers still have four games to play, two of which are direct talks with the Trail Blazers and Suns, and this will be a key battle to determine whether they can make the playoffs. The Lakers are aiming to at least hold on to the eighth spot and avoid falling into the play-in tournament, and it would be even better if they can overtake the Trail Blazers. The Lakers' strength is that they have a strong roster, with the return of James and Davis giving them a big boost, and their defense is one of the best in the league. The Lakers' weaknesses are that they are inconsistent in form, their outside shooting and free throw percentages are low, their bench depth is lacking, and their schedule is difficult, and they need to adjust their form and play at their level in a short period of time to achieve their goal of defending their title.
The Warriors missed out on overtaking the Suns
The Warriors suffered a surprise loss in yesterday's game, losing 97-108 to the Thunder, ending their four-game winning streak and ending their 14-game losing streak. Curry, the star of the Warriors, scored just 23 points in the game, hitting two of his nine three-pointers, and his hands were noticeably poor, and his teammates didn't provide him with enough support, with only Green and Bartsmore scoring in double figures, scoring 13 and 14 points respectively.
The Warriors' defense was also not up to par, and they gave confidence to the Thunder's young players, with the Thunder's starting five all scoring in double figures, including 22 and 18 points from Dort and Maldona, to lead the Thunder to a 17-2 offensive wave in the fourth quarter to pull the score away.
The Warriors' loss dropped their record to 37-31 and they still sit in 10th place in the West, missing out on the Suns, one win away from the Lakers in ninth place and 1.5 wins away from the Mavericks in eighth. The Warriors still have four games to play, two of which are against the Suns and Jazz, and it will be a tough challenge to test their mettle. The advantage of the Warriors is that they have a superstar like Curry, who is among the best in the league in terms of individual ability and leadership temperament, who can lead the Warriors to win games at any time, and his partner Green is also an all-around player with excellent defensive and playmaking skills. The Warriors' weakness is that their roster is too thin, they have no reliable scoring points other than Curry and Green, their bench depth is poor, their defense is also unstable, and they need other players to step up in time and share the pressure on Curry to be more competitive.
The Suns lost to the Rockets
The Suns suffered an unexpected setback in yesterday's game when they lost 113-116 to the Rockets, ending their three-game winning streak and ending their 15-game losing streak. The Suns' main players Paul and Booker both had good performances, Paul scored 27 points and 8 assists, and Booker contributed 24 points, 6 rebounds and 5 assists. The Suns' bench players also had bright plays, with Johnson and Payne scoring 21 and 16 points, respectively, to help the Suns tie the score in the fourth quarter. However, the Suns' defense didn't keep up with their offense, and they gave confidence to the Rockets' players, with the Rockets' starting five all scoring in double figures, including 25 points from Wood and 21 points from Augustin, who also hit the winning three-pointer in the final minute to leave the Suns powerless.
The Suns' loss dropped their record to 40-28 and dropped to 11th place in the West, overtaken by the Warriors, 0.5 wins away from the Lakers in 10th place and 1 win away from the Mavericks in 9th. The Suns have four games to play, two of which are head-to-head meetings with the Warriors and Clippers, which will be a key battle to determine whether they can make the playoffs. The Suns' advantage is that they have star guards like Paul and Booker, who are both offensive and leading.
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