Article 6P2VF What happens when NBA rookies become millionaires overnight?

What happens when NBA rookies become millionaires overnight?

by
Jacob Uitti
from US news | The Guardian on (#6P2VF)

The best college players often go from playing for free to finding themselves with vast wealth in their teens. It can be a mixed blessing

At the start of the year, Alexandre Sarr was playing in Australia's NBL, where the average salary is around $100,000. Reed Sheppard was playing in college where, NIL deals aside, he earned nothing. Now, after going No 2 and No 3 overall in June's draft, they are millionaires. Sarr is guaranteed $23m from his rookie contract with the Washington Wizards, while Sheppard will have to make do with $20m from his deal with the Houston Rockets (both contracts could end up paying the duo north of $45m each). It's not just the top picks who suddenly have access to wealth either. Nine players in the second-round of this year's draft - guys who may not ever have a meaningful career in the NBA - have signed multimillion dollar contracts with their teams.

Those contracts often change lives for the better. But they can also become a burden as young men, often still in their teens, suddenly grapple with a fortune that arrived overnight.

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