Athlete Salaries
In the past few decades, athlete salaries have escalated like that of a superb stock equity. Athletes are taking full advantage of their position, causing the average man to wonder how high will they go. Some feel that athletes are greedy people who have lost care for the true meaning of their salary, the love of the game. Others feel that if a person is able to earn that kind of money, why shouldn't they? Increases in athlete salaries will bring up the question on whether athletes are worth the money by researching the NBA'snew collective bargaining agreement (before and after the approval), by observing the current salaries of top athletes in their respective sports, and by concocting possible solutions. Shaquille O'Neal, formerly of the Orlando Magic, signed almost two years ago with the Los Angeles Lakers for an enormous $120 million over seven seasons.... Alonzo Mourning signed with the Miami Heat for a seven year deal worth about $112 million.... These fat contracts have brought out the question: Are pro athletes worth the millions they are paid? Basketball Hall of Famer David Thompson states, "Players have such a short time to make their money. If you look at others in the entertainment busine
Jordan said that he would not play for any other team except the Bulls. It's not only he wouldn't, but he could not, unless he was willing to take a pay cut. This was because the NBA salary cap was about $27 million. He was already getting $36 million with the Bulls a few years ago. The Bulls could have paid him as much as they want because the cap doesn't apply to teams re-signing their own players. - almost $40,000 a jumpshot, assuming he makes 11 jumpshots per game "If there weren't those rookie caps, kids out of college, even high school like KG [Kevin Garnett], would be signing these multi-million dollar contracts right after the draft. There is no doubt in my mind that that was a good thing to do." He also feels that these high salaries are good because it shows that revenue is going up (Rosen). Garnett jumped from $2.1 million in 1997-98 to $14 million in 1998-99, to $16.8 million this year. After this year he will take in about $19.6 million, $22.4 million, $25.2 million, and in the final year of the deal, he will receive $28 million. Every penny is guaranteed, even if he is injured or doesn't develop into a superstar. Sports salaries have sky rocketed in the past ten to fifteen years. Professional athletes have moved from six figure salaries to nine figure salaries in what seems like a snap of a finger. "In a couple years, after Garnett develops into a superstar, people will be saying 'Boy, I'm glad we signed him [Garnett].'" Rosen thinks that it was undoubtedly necessary to have rookie salary caps. Before doing an in-depth analysis of pro sports salaries, one ignorant person would conclude that these salaries are way too high. However, sports sa
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