Stephen Curry and a lot of NBA players are expected to take a hit to their paycheck next season, with details about Curry’s contract coming through.
The NBA is going through some tough times right now, and it is no secret. A big chunk of the blame goes to the Covid-19 pandemic, which disrupted everything. Even though the league managed to find a way to successfully finish the 2019-20 season in the Orlando Bubble, they reportedly suffered losses in revenue running up to hundreds of millions of dollars .
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NBA players could end up losing 40% of their salary in the upcoming season due to the losses the league is believed to incur the next year. The escrow clause in the players’ contract says a portion of the salary may be held in consideration of the league’s earnings that year. Usually, that limit is set at 10%, but this year the salaries are rumored to take up to 40% hit.
Stephen Curry to lose up to $17 million
Stephen Curry hasn’t had the best contracts in the past, but the Warriors made up for it in 2017, when they gave him the league’s biggest contract ever back then. He inked a 5 year, $201 million contract with the Warriors, and is set to make up to $43 million in the 2020-21 season.
With the salaries to take a hit in the upcoming season, Curry may lose around $17.2 million.
Example of players new salaries if games are reduced for next season and different escrow percentages. 🧐 pic.twitter.com/rDm1mYIPHO
— Hoop Central (@TheHoopCentral) October 30, 2020
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While all of this may not hit Curry much, who has established his financial stability, it may be a cause of concern for others. For the athletes who just joined the league, or are on minimum contracts, this deduction means their financial plans have to take a hit.
These figures are still not totally finalized and may vary. The final decision would be made around the time the circumstances and the dates for the start of the NBA season are decided.
The 40% cut is predicated on the likelihood of a 50-game season taking place.