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The GOAT debate is one discourse that will go on till the end of time. However, amidst this perennial discourse lies a glimmer of potential consensus – who was richer at 39? As of December 2023, Michael Jordan possesses a net worth of $3 billion, a status he reached after he sold his majority stake in the Charlotte Hornets. LeBron James, on the other hand, currently has a net worth of roughly $1 billion, making him the only active NBA player on the list.
Although MJ surpasses James in wealth right now, it is unfair to compare the two given the difference in their ages. However, the results are surprisingly different when we compare the earnings of the two at 39.
LeBron James vs. Michael Jordan: Financial showdown
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Jordan played his last season at 39 years old, garnering $93,877,500 in NBA earnings, which, adjusted for inflation, would equate to approximately $156,658,588. However, James, who turned 39 today, has amassed $479,466,457 in NBA earnings throughout his 21-year-long career. As evident, James stands a staggering $325,807,869 richer than Jordan was at the age of 39. However, a part of the reason is the seismic shift the league has seen in salaries over the last few years.
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Last August, James signed a 2-year / $99,023,288 contract with the Los Angeles Lakers, including $99,023,288 guaranteed, and an annual average salary of $49,511,644. On the other hand, Jordan’s richest contract was $33,140,000, which he earned during the 1997-98 season. Not only was this the richest contract in MJ’s career but also one of the largest in NBA history, until Stephen Curry signed a 5-year contract worth $201 million in 2017, paying him $34,682,550 in the 2017-18 season.
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Owing to the league’s growing popularity and the new CBA, the salary caps have soared. It has seen a jump from $40.2 million in the 2002-03 season to $123.4 million in the 2022-23 season. The anticipated surge in the NBA’s salary cap could see player contracts surpassing a base salary of $80 million by as early as 2029, with the potential to skyrocket to $100 million just three years thereafter.
Other factors contributing to increased salaries
The NBA has a Collective Bargaining Agreement (CBA) in place that outlines how the league’s revenue will be divided among the players and teams. As per the agreement, players receive approximately 50% of the league’s revenue, generated from ticket sales, broadcasting rights, merchandise sales, and sponsorships. The league’s revenue has seen exponential growth over the last decade, and hence, jaw-dropping new contracts.
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The league has also expanded its reach to international markets such as China and Dubai. This global appeal of the sport has led to increased revenue for players through endorsement deals and other sponsorship opportunities. What do you think of these numbers? Let us know in the comments.
