Devin Booker, the dynamic scoring guard for the Phoenix Suns, has recently finalized a contract extension that significantly recalibrates the financial landscape for players in the National Basketball Association. This agreement isn`t just another large sports contract; it establishes a new high-water mark for annual compensation in the league.
The terms of the new deal are substantial: $145 million spread across two seasons. This translates to an average annual salary of an unprecedented $72.5 million. In signing this extension, Booker momentarily surpasses Oklahoma City Thunder guard Shai Gilgeous-Alexander, whose recent contract averaged $71.25 million per year. The agreement brings Booker`s projected total earnings over the next five years to approximately $316 million, solidifying his position among the league`s financial elite.
A Historical Perspective on NBA Salaries
To truly grasp the magnitude of these figures, particularly for those of us navigating the more modest financial realities of everyday life, a look back at historical NBA salaries is illuminating. Consider the icons of previous generations:
Larry Bird, a cornerstone of the Boston Celtics dynasty, earned $2.3 million in his final season (1992-93). Adjusted for inflation, that`s roughly $5.15 million today – a respectable sum, but a fraction of current top deals. Magic Johnson of the Los Angeles Lakers made $14.66 million in 1994-95, which translates to about $31.1 million in today`s currency. Even Michael Jordan`s then-record-shattering $33.14 million salary with the Chicago Bulls in 1997-98 is equivalent to approximately $65 million today, still less than Booker`s new annual average.
Entering the 21st century, Kevin Garnett`s $28 million in 2003-04 with Minnesota was the league`s highest, roughly $47.9 million today. Stephen Curry of the Golden State Warriors led the way in the 2010s, reaching $37.46 million (about $46.7 million today). Curry was also the first player to officially cross the $50 million annual threshold, earning $51.9 million in the 2023-24 season. Devin Booker`s new contract, however, now sets the bar significantly higher.
This record-breaking extension for Devin Booker is a clear indicator of the accelerating financial growth within the NBA. It reflects the immense value placed on superstar talent in the modern era and continues a trend of player compensation reaching previously unimaginable heights.
