Dr. Boyce: NBA Free Agents Earning Less Than You Think

The summer's NBA free agent market is probably more interesting than most. With LeBron James available, the media is scrambling to see what happens next. But what some seem to forget is that there are a bunch of other really talented player NOT named LeBron, and they too are making moves on the NBA market.

Let's start with Amar'e Stoudemire. Amar'e is an amazing player, nearly as good as LeBron, and on some days, he's actually better. Stoudemire was going to earn $17.6 million in the final year of his contract with the Suns, but he has exercised an early termination option on his contract to search for something better.

Next, there's Carmello Anthony, the guy who spent a year at my very own Syracuse University. He's being pushed to sign a three-year, $65 million extension, but may decide to pass. Melo is another player who can give LeBron a run for his money.

Finally, there's Paul Pierce, who led the charge toward getting LeBron out of the playoffs this season. According to ESPN.com, Piece has told the Boston Celtics that he'll be opting out of the final year of his contract to become a free agent. He passes up $21.5 million next year, but may sign a four-year deal worth $90 million.

When I see all the craziness occurring in the NBA, I have a few thoughts:

First, it's odd to me that the NBA has leveraged so much of its brand on King James. The truth is that by making LeBron the natural heir to an NBA title, we are not only putting a tremendous amount of pressure on him, we are also offending every other incredibly talented, hard-working player in the league. That's why I figured that one of the other All-Stars would make sure LeBron didn't make it to the championship series.

Second, while it might seem that the players are making gobs of money (which they are, in an absolute sense), the truth is that relatively speaking, they are actually getting robbed. If salary caps and free market restrictions were not in place, NBA players would be earning as much as $50 million per year. The turning point occurred in 1996, when Kevin Garnett was offered $21 million per year, leading the NBA owners to lock out the players. After the lockout, limitations to player salaries were put in place, keeping them at what some argue to be a manageable level. Therefore, 14-years later, top players are making the same money that Kevin Garnett was offered in 1996.

The point here is not to say that we should feel sorry for NBA players. The point is that owners don't offer $21 million to a player because they are stupid. They offer the money because the player's presence is generating revenue on a scale that justifies their salary. This extra income doesn't go away just because owners are paying the players less money. When the players aren't getting fair market salaries, team owners are able to pocket the difference, making themselves wealthier in the process.

Long story short: players get paid well, and owners get disgustingly rich. But with many NBA players not getting educated by their universities, they probably don't even notice.

Dr. Boyce Watkins is the founder of the Your Black World Coalition and a Scholarship in Action Resident of the Institute for Black Public Policy. To have Dr. Boyce commentary delivered to your email, please click here.

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