This past season, the NBA generated more basketball-related revenue than ever before, with a total revenue of just under $9 billion.
Business is booming. The first night of free agency demonstrated how good they are.
The money just kept flowing after Nikola Jokic agreed to the largest contract in NBA history and Bradley Beal agreed to a deal worth a quarter-billion dollars.
Towns and Booker agreed to four-year contracts worth at least $224 million that will begin in 2024, according to their CAA agent Jessica Holtz.
According to Tandem Sports, Morant will sign his first rookie extension, which will be worth at least $193 million and could reach the $230 million range.
These five players — Jokic, Beal, Towns, Booker, and Morant — received new contracts worth more than $1.1 billion on Thursday, highlighting the moves made when the NBA's annual free-agent negotiating window opened.
Jokic agreed to a supermax contract extension with the Denver Nuggets, guaranteeing himself at least $264 million over five seasons beginning with the 2023-24 season.
The final figure could rise slightly depending on the league's salary cap heading into the '23-24 season and whether it exceeds current projections.
Beal will earn $251 million over the next five seasons after re-signing with Washington on the same day he turned down $37 million from the team with whom he has spent his entire 10-year career.
Towns, Booker, and Morant all signed contracts shortly after. More big-money deals, especially for rookies, are on the way, with Miami's Tyler Herro and New Orleans' Zion Williamson on the list.