NBA stars Kevin Durant, Klay Thompson outearn top US CEOs
DLE Agency founder Doug Eldridge on the big NBA deals signed once the free agency period opened.
With the NBA’s latest wave of max contracts, superstars like Kevin Durant and lesser-known talents like Tobias Harris are set to earn as much money – or more – than some of the nation’s most well-known CEOs.
The NBA’s collective-bargaining agreement determines how much money players can earn in max contracts based on various factors, including the league’s salary cap and the player’s service time. For CEOs, compensation is usually composed of a combination of salary and performance-based bonuses.
As an NBA veteran with 10 years of service time, Durant was able to sign a four-year contract with the Brooklyn Nets worth roughly $164 million. The 31-year-old star is set to earn a base salary of about $38.2 million for the 2019-20 NBA season, even though he is considered a long shot to play after undergoing surgery to repair a ruptured Achilles tendon.
Durant’s contract has an average annual salary of $41 million. He is considered one of the best players in NBA history, with two championships, 10 All-Star selections and a 2014 MVP award to his name.
Durant is hardly the only NBA star to cash in this offseason. Klay Thompson signed a five-year, $190 million contract with the Golden State Warriors that will pay him a base salary of $32.7 million next season, while rising star Tobias Harris signed a five-year, $180 million contract with the Philadelphia 76ers that will pay him $31 million in the upcoming campaign.
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While it’s difficult to draw direct comparisons between pay rates for athletes and business executives, the NBA’s latest round of contracts provides context for the massive earning potential for players at the height of their profession. FOX Business breaks down how NBA max contracts compare to CEOs of some of the top U.S. companies below.
Reed Hastings, Netflix CEO (2018 salary: $36 million)
MADRID, SPAIN - APRIL 05: CEO Of Netflix, Mr Reed Hastings, looks on before his meeting with King Felipe VI of Spain at the Zarzuela Palace on April 05, 2019 in Madrid, Spain. (Photo by Carlos Alvarez/Getty Images)
Brian Niccol, Chipotle CEO (2018 salary: $34 million)
IRVINE, CA - FEBRUARY 05: Taco Bell CEO Brian Niccol smiles with a mini football in his hand during a special sneak peek employee preview party Friday for the launch of the new Quesalupa debuting Super Bowl Sunday. ///ADDITIONAL INFO: Biz.TacoBellSBa …
Jamie Dimon, JP Morgan Chase CEO (2018 salary: $30 million)
FILE- In this June 13, 2012, file photo, JPMorgan Chase CEO Jamie Dimon testifies before the Senate Banking Committee on Capitol Hill in Washington. Dimon, is saying he would be able to beat President Donald Trump in an election, but also says he isn …
Randall Stephenson, AT&T CEO (2018 salary: $26 million)
Chief Executive Officer of AT&T Randall Stephenson speaks during a moderated discussion before the Economic Club of New York, in New York City, U.S., November 29, 2017. REUTERS/Brendan McDermid - RC148DAD8800
Mark Zuckerberg, Facebook CEO (2018 salary: $23 million)
FILE PHOTO: Facebook Founder and CEO Mark Zuckerberg speaks on stage during the annual Facebook F8 developers conference in San Jose, California, U.S., April 18, 2017. REUTERS/Stephen Lam/File Photo - RC1179CF0B00
Tim Cook, Apple CEO (2018 salary: $16 million)
Apple CEO Tim Cook attends the first meeting of the American Workforce Policy Advisory Board with US President Donald Trump in the State Dining Room of the White House in Washington, DC, March 6, 2019. (Photo by SAUL LOEB / AFP) (Photo credit should …