Sports Agent Rich Paul Is Managing More Than Half A Billion Dollars Of Player Contracts Next Season

ByJoey Heldon August 14, 2023inArticles›Sports News

You’ve likely heard the name Rich Paul in tandem with LeBron James . The CEO of Klutch Sports Group has been long-time friends with the NBA superstar. The duo met at the Akron-Canton Airport more than 20 years ago when James was still in high school. He liked Paul’s Warren Moon throwback jersey, and the two exchanged contact information.

Fast-forward to today. Rich Paul is among the most powerful agents in all of sports, representing James and 32 other players .

That roster of players is quite valuable. In total, Paul represents $500,749,353 of player salaries for the upcoming 2023-24 season. If we look at the next five years, Paul is currently managing players who will make a collective $1.74 billion — $1,746,197,257, to be exact.

Mitchell Leff/Getty Images

Paul didn’t go to college — something that his critics have pointed out as a deterrent. Instead, he started selling vintage jerseys after high school — and even sold LeBron both a Magic Johnson Lakers jersey and a Joe Namath Rams jersey. Once he connected with James, it opened the door to his new career. Paul started working under Leon Rose , who’s now the president of the New York Knicks. Rose negotiated James’ 2006 contract extension with the Cleveland Cavaliers.

By 2012, Paul was established enough to start his own agency, and he took James with him. Paul, who’s no stranger to partnering with powerful people, hired agent and attorney Mark Termini to negotiate contracts for Klutch Sports Group. By the time Termini left in 2020, Klutch had negotiated over $1 billion worth of contracts for 25 clients.

Today, Paul represents some of the biggest names in the league. Though LeBron is the top superstar on the roster, Paul is also the agent for Anthony Davis ( scoring him a recent huge contract ), Fred VanVleet , Zach LaVine , Darius Garland, Draymond Green , Lonzo Ball , and De’Aaron Fox .

James, Davis, VanVleet, and LaVine will all make more than $40 million this upcoming season. Even the lowest-paid player of Paul’s clients, Milwaukee Bucks forward Chris Livingston, will make more than $1.1 million next year.

NBA rules state that agents can take between a 4% and 10% cut of their players’ salaries, depending on the player’s tenure in the league. Paul will only make 4% from more established veterans like James and Davis, but for guys like Livingston or Golden State Warriors forward Moses Moody, Paul could be earning up to 10% of their earnings.

Even if Paul was making 4% for each of his 33 clients, he’d still earn slightly more than $20 million this upcoming season and just under $70 million over the next five years. But since he’s likely earning more than 4% for several of his players, a safer bet is somewhere between $25 and $30 million this upcoming season and $90 to $100 million over the next five years. And that’s not even taking into account contract negotiations and new players coming into the league. He could very well surpass that $100 million mark.

Not bad for someone who dropped out of college his freshman year.

• Nerlens Noel Is Suing His Former Agent Rich Paul For $58 Million
• Anthony Davis Just Signed The Largest NBA Extension Ever, Next Season He’ll Make 70% Of Michael Jordan’s NBA Career Earnings
• LeBron James Just Signed A Two-Year Contract Extension With The Lakers That Will Propel His Career Earnings To The Stratosphere
• Leon Rose Net Worth
• Joel Segal Net Worth
• The 12 Players On Team USA’s Roster Will Make Over Half A Billion Dollars Next NBA Season

Anthony Davis Just Signed The Largest NBA Extension Ever, Next Season He’ll Make 70% Of Michael Jordan’s NBA Career Earnings

ByJoey Heldon August 4, 2023inArticles›Sports News

• Anthony Davis
• LeBron James
• Michael Jordan
• Rich Paul
• Taylor Swift

Anthony Davis joined the Los Angeles Lakers before the start of the 2019-20 NBA season, the result of a trade with the New Orleans Pelicans. That season was suspended for more than four months because of the Covid-19 pandemic. When play finally resumed, Davis, LeBron James , and the rest of the Lakers ultimately won the championship.

The Lakers haven’t been back to the NBA Finals since, but after a strong end to this past season, they’re feeling good about their chances. That means signing one of their stars to a massive contract extension.

Davis and the Lakers agreed to a three-year, $186 million deal to keep Davis in L.A. through the 2027-28 season. The team will now pay Davis $270 million over the next five years. Davis will average $62 million per season in the new deal, which is the largest annual contract extension the league has ever seen.

Chris Graythen/Getty Images

Davis became eligible to sign his extension on Friday and didn’t wait long to make it happen. He opted for financial security over the potential to make even more money by taking shorter deals — something his teammate has done with great success .

Despite the franchise’s championship in 2020, things weren’t nearly as rosy the next two years. The Lakers barely made the playoffs as the No. 7 seed in the 2020-21 season, losing in six games in the first round to the Phoenix Suns. The following year was even worse, as the Lakers missed the postseason entirely. Davis sat out more than half of his team’s games due to various injuries, appearing in just 76 of a possible 154 contests.

The deal is also big news for Rich Paul . He represents both Davis and James (who’s signed through next year and then has a player option in 2024-25) and has secured close to $370 million for the two L.A. stars. The NBA has a rule that caps agent fees at 4% for veteran players, so Paul will make about $14.8 million simply from these two contracts alone. His overall client roster is extensive — his players will earn a collective $500 million this upcoming season.

The Lakers are investing in Davis for the long term. Now, his goal is to help the franchise add another championship banner (or several) to its rafters.

• Anthony Davis Net Worth
• A Fan Placed A Huge Bet On The Lakers Just Before They Traded For Anthony Davis
• Anthony Davis Can Make A Crazy Amount Of Money This Decade – Here’s How
• One Day After LeBron Signed A New Deal, Anthony Davis Agrees To A Max Contract
• Anthony Davis Waives His $4 Million Trade Kicker – What Does That Mean For The Lakers?
• Anthony Davis Is Sitting Out The Rest Of The Season, And It’s Going To Cost Him $24 Million

The 12 Players On Team USA’s Roster Will Make Over Half A Billion Dollars Next NBA Season

ByJoey Heldon August 14, 2024inArticles›Sports News

The Olympics are fantastic for several reasons. We get to see terrific stories of athletes winning the first-ever medals for their nation, like Julien Alfred of St. Lucia and Thea LaFond of Dominica . We learn about the ins and outs of the host nation. We discover the rules of sports we may not have ever known before.

And, of course, we get to see the best athletes in the world competing at the highest level. That’s been apparent on the basketball court, where we’ve had tons of NBA talent participating across nations. It’s culminating with the United States facing France for the gold medal.

The French are represented by five current NBA players, including Victor Wembanyama , Rudy Gobert , Nicolas Batum, and Bilal Coulibaly. Evan Fournier is currently a free agent but was on an NBA roster last season.

Team USA’s 12 players are all NBA stars. And they’re also among the highest-paid in the league. Collectively, the players on the Team USA men’s basketball roster will make $503,631,169 in salary. Yep, these 12 guys will earn more than half a billion dollars in the upcoming season.

Here’s a breakdown of each player and what they’ll make.

Michael Reaves/Getty Images

Steph Curry , Golden State Warriors — $55,761,217

For much of the Olympics, people were wondering when Steph Curry would start regularly hitting shots. It took until the semifinals, but Chef Curry cooked—and it was impressive. He scored 36 points, including 9-of-14 on threes, and was the main reason Team USA was able to squeak by Serbia en route to the final. This upcoming season, he’ll be the highest-paid player in the NBA.

Joel Embiid , Philadelphia 76ers — $51,415,938

Joel Embiid was greeted with boos from the French crowd every time he touched the ball. He earned his French citizenship but opted to play for the United States. If any player would welcome being a villain, Embiid is that guy. He had some inconsistencies but hit a few key shots during the Olympics.

Kevin Durant , Phoenix Suns — $51,179,020

Kevin Durant became Team USA’s all-time leading scorer in this Olympics run. He went 8-for-9 during a shooting clinic in the first game and seemed openly upset when he finally missed a three-pointer in the next game. He won a pair of championships with the Golden State Warriors but has had less success in subsequent stops in Brooklyn and Phoenix. However, he’s still the second-highest earner in NBA history, behind only LeBron James.

Devin Booker , Phoenix Suns — $49,205,800

Devin Booker was perhaps the most unheralded player on all of Team USA. He was a consistent scorer in most games and put solid defensive pressure on opposing players. Booker is making slightly less than Bradley Beal , the third member of the Suns’ big three. Together, the group will cost about $150 million next season.

LeBron James , Los Angeles Lakers — $48,728,845

LeBron James was the floor general for Team USA, and when the team needed a big bucket down the stretch, he delivered. He’s also well on his way to becoming a billionaire thanks to his NBA-record career earnings and many endorsement deals, including a lifetime contract with Nike. He’s won four NBA titles and is the league’s all-time leading scorer—and he’s not done yet.

Anthony Davis , Los Angeles Lakers — $43,219,440

When he didn’t have to battle Nikola Jokic , Anthony Davis was a defensive stalwart for Team USA. The Lakers big man has been a critical element for the franchise alongside James. We keep thinking James will eventually retire and Davis will be the centerpiece, but for now, they’ll continue to be a dynamic duo. Davis is on a five-year deal; when it expires, his three-year, $186 million extension will kick in, paying him a whopping $62 million per season.

Tyrese Haliburton , Indiana Pacers — $42,176,400

Tyrese Haliburton and the Indiana Pacers had a surprising postseason, reaching the Eastern Conference Finals as the No. 6 seed. Haliburton ultimately missed most of the conference finals with an injury, but there’s reason for optimism in Indiana. Haliburton primarily stayed on the bench with the Olympic team, but don’t feel too bad for him. He still inked a five-year, $260 million extension before the 2023-24 season.

Anthony Edwards , Minnesota Timberwolves — $42,176,400

Anthony Edwards was one of the viral stars of the Olympics, thanks to his fascination with table tennis star Lily Zhang . While he didn’t participate in a ping-pong challenge, he had a generally solid Olympics, wowing crowds with his athletic dunks and violent blocks. He’s also shaping up to be one of the faces of the NBA’s next generation. He also agreed to a five-year, $260 million extension before last season.

Jayson Tatum , Boston Celtics — $34,848,340

Jayson Tatum signed the largest contract in NBA history this summer (five years, $314 million), but that deal doesn’t kick in until the following season. This upcoming year, he’s actually one of the lowest-paid players on the USA roster. He was a healthy scratch from multiple games, despite being a key contributor to the Tokyo Olympics team. At least he’s getting some rest, since he had to play all the way into June to win his first NBA championship.

Bam Adebayo, Miami Heat — $34,848,340

Three seasons ago, Bam Adebayo signed the same deal as Tatum, a max extension at the time. This offseason, like Tatum, Adebayo signed another deal, but this one isn’t quite as large as his Eastern Conference rival. Adebayo’s new extension is worth $166 million over three seasons, but it won’t start until his current one ends after the 2025-26 season. He’s been a key component to the Miami Heat’s success, and despite limited offensive production, he served as a nice backline of defense for Team USA.

Jrue Holiday , Boston Celtics — $30,000,000

Jrue Holiday has been a lockdown presence in the league for years and still has one of the coldest passes in NBA Finals history. He brought that same defensive intensity for Team USA, even though he missed an early game with an ankle injury. After the Bucks traded him as part of the Damian Lillard deal, he ended up in Boston and won his second championship in four seasons. He agreed to a four-year, $135 million extension shortly before the playoffs.

Derrick White, Boston Celtics — $20,071,429

White is the lowest-paid player on Team USA, but he almost wasn’t on the roster at all. He came over as an injury replacement for Kawhi Leonard . He was a strong defensive presence for the team’s second unit, and he did some of the dirty work that Celtics fans were accustomed to during the season. In the NBA, White won his first championship a year and a half after being traded from the San Antonio Spurs. Last month, White inked a four-year, $126 million extension.

• More Than 12% Of The NBA Has A Nine-Figure Contract — And 23 Players Are Making At Least $200 Million
• Which NBA Players Have Made The Most Money During Their Careers?
• Anthony Davis Just Signed The Largest NBA Extension Ever, Next Season He’ll Make 70% Of Michael Jordan’s NBA Career Earnings
• Brian Shaw Net Worth
• The 10 Highest-Paid Players In The NBA Finals
• The Boston Celtics Have A $500 Million Payroll—And They’re Down 0-2 In The Eastern Conference Semifinals