Mark Cuban believes it’s only a matter of time before an NBA player signs a $1 billion contract.
The Dallas Mavericks’ minority owner shared his thoughts during an appearance on Shannon Sharpe’s “Club Shay Shay” podcast.
When Sharpe asked if he thinks the world will ever see such a monumental deal, Cuban responded, “Yeah, but that presumes that TV keeps on going up the way it is. But, you’re going to see a hundred million dollars a year here shortly. Because if the TV contract has 10% increases in the cap, [which is] the way the CBA works. You saw Steph [Curry] had 62 million for one year… and it’s going to go crazier.”
The Collective Bargaining Agreement (CBA) defines the employment guidelines and agreements for all professional basketball players in the National Basketball Association, per its website. It also outlines the rights and responsibilities of the NBA Clubs, the NBA, and the National Basketball Players Association (NBPA).
Sharpe’s question was prompted by 25-year-old Mavericks star Luka Dončić, who is considered one of the NBA’s greatest players and is on track to secure the largest contract in league history when his current deal expires.
Currently the 17th highest-paid player in the league at approximately $43 million, he is signed to a five-year, $215 million designated extension that he inked in 2022, and he is set to earn significantly more when its time to re-sign.
“Once that new TV money kicks in… you’re going to have players making more than the owners,” Cuban added. “And that’s okay, [because] there is no league without them.”
Currently, the only NBA billionaires are Magic Johnson, Michael Jordan, and LeBron James, who was the first active player to reach the milestone. In fact, James spoke his future status into existence during a 2014 interview with GQ.
“It’s my biggest milestone, obviously. I want to maximize my business,” James expressed, as reported by AFROTECH™. “And if I happen to get it, if I happen to be a billion-dollar athlete, ho. Hip hip hooray! Oh, my God, I’m gonna be excited.”
Cuban himself is a financial expert and one of the most recognized entrepreneurs in the world, with a net worth of $5.7 billion, according to Forbes.
As the former controlling owner of the Mavericks and one of the most prominent investors on the reality TV show “Shark Tank” — where he evaluates and invests in various business pitches presented by entrepreneurs — he definitely knows a thing or two about the league and what it takes to be successful.
