Star Athletes Set Salary Records Across Major Leagues
As revenues in professional sports continue to soar into the billions, star athletes in the United States are consistently setting new salary records, particularly in the NBA and NFL. Numerous players in these leagues are now earning at least $50 million annually, with four players having signed extensions exceeding the $60 million threshold. Major League Baseball (MLB) is also witnessing unprecedented financial agreements, highlighted by Juan Soto's recent free-agency deal worth $51 million per season, which commences in 2025. This contract positions him alongside Shohei Ohtani, currently the highest-paid player in American professional sports, albeit with a note of caution since Ohtani's total value is structured in a unique manner. While Major League Soccer (MLS) and the National Hockey League (NHL) are included in discussions of player salaries, neither league boasts a player earning more than Lionel Messi's reported $20.4 million in guaranteed compensation.
It's important to note that contract data is referenced from Spotrac, with a stipulation that any agreements, such as those signed by Soto, Jayson Tatum, or Dak Prescott, that have not yet officially commenced are not included in the current calculation. This approach allows for a more accurate reflection of the calendar-year figures. For the NFL 2024 season, salary leaders currently include Jalen Hurts, who is under a five-year, $255 million contract signed in April 2023, following a season where he finished as the runner-up for the MVP award and guided the Philadelphia Eagles to an NFC Championship, ultimately reaching the Super Bowl where they faced the Kansas City Chiefs. As of now, the Eagles are enjoying another strong season with a record of 12-2.
Another prominent figure in the league is Lamar Jackson, whose remarkable talent continues to shine despite the Baltimore Ravens facing critiques regarding postseason success, particularly the need to secure a Super Bowl victory. Jackson is currently in the second year of a lucrative five-year, $260 million contract and is on the verge of achieving an extraordinary milestone that no player has accomplished: amassing 4,000 passing yards and 1,000 rushing yards in a single season. With 3,580 passing yards and 743 rushing yards as of this writing and three games remaining, Jackson stands within striking distance of this remarkable feat. Meanwhile, in the NBA, Paul George is navigating a challenging start to his tenure with the Philadelphia 76ers after signing a four-year, $211.6 million offer for the 2024 free agency. George's participation has been hindered by a knee injury, but the organization remains hopeful that he, alongside Joel Embiid and Tyrese Maxey, can lead the Sixers to their first NBA championship since 1983.
Joel Embiid, the 2022-23 MVP, is experiencing significant financial security, earning $53.3 million annually on his current contract, which is set to be complemented by an extension commencing in 2026, totaling $192.9 million over three years. This future agreement translates to $64.3 million per year, marking the largest figure in NBA history thus far. Likewise, Stephen Curry is positioned for a lucrative payday in the 2026-27 NBA season through a one-year extension worth $62.6 million, in addition to a four-year, $215.4 million contract. Curry seeks to again achieve All-NBA recognition, an accolade he has pursued multiple times throughout his career.
The NBA landscape has also witnessed several newcomers in terms of record salaries compared to 2023, notably Devin Booker of the Phoenix Suns. At 28 years old and with a decade of experience, Booker remains in his prime, having recently signed a four-year, $220.4 million max deal with the Suns as the franchise focuses on building around him. Booker has been consistently impressive, averaging over 24 points per game for seven consecutive seasons. Similarly, Karl-Anthony Towns has secured an identical contract with the Minnesota Timberwolves, although he may enter free agency one summer earlier due to the structure of his deal. Presently, Towns is flourishing alongside Jalen Brunson on the New York Knicks, with aspirations of leading the franchise to its first NBA championship since 1973.
Nikola Jokić, an exceptional player known for his remarkable triple-double capabilities, continues to excel in the NBA with a five-year, $276.1 million contract with the Denver Nuggets, boasting an impressive annual value of $57.1 million. Jokić is on course for a fifth consecutive season with at least 24.5 points, 10.8 rebounds, and 7.9 assists per game, a feat that showcases his unique skill set and effectiveness. Next season, Jayson Tatum from the Boston Celtics is set to claim the title of the largest contract in NBA history with a five-year, $314 million extension. However, the current record for the 2024 season belongs to Jaylen Brown, whose supermax deal worth $285.4 million began this season. Brown's performance has been commendable, notably leading the Celtics to victory in the 2024 NBA Finals against the Dallas Mavericks and earning Finals MVP honors.
In MLB, while Shohei Ohtani is not currently receiving a $68 million salary on an annual basis due to his decision to defer payments over ten years, he remains financially secure through numerous endorsements. Nevertheless, his contract holds significant weight, much like Brown's with the Celtics. In his debut season with the Los Angeles Dodgers, Ohtani achieved astounding numbers with 54 home runs and 130 RBIs, coming tantalizingly close to what would be only the second batting Triple Crown in over fifty years. He unanimously earned MVP honors in the National League, contributing to the Dodgers' victory over the New York Yankees in the World Series.
As the landscape of professional sports continues to evolve, the unprecedented financial agreements being signed reflect a growing trend in which athlete compensation reaches new heights. These developments not only highlight the immense talent but also the increasing value placed on sports figures across both the NBA and NFL, as well as other leagues like MLB, which are solidifying their market positions through notable contractual commitments to star players.