"This July, the Phoenix Suns made 28-year-old, four-time NBA All-Star Devin Booker an offer he couldn't refuse: a two-year, $145 million contract extension, even though three years and $171 million still remained on his existing contract. Booker's new salary - $72.5 million in annual average income - is the highest in NBA history and keeps him in Phoenix until the summer of 2030, when he'll be 34."
"Over the past three years, 17 NBA players signed extensions each worth over $200 million in total value. Others, like Booker, have signed extensions worth less than $200 million in total value, but with average annual salaries topping $40 million. By comparison, the NFL will only have 15 players making $40 million or more for the 2026 season, while MLB will have"
Teams are increasingly offering contract extensions that surpass remaining deals and arrive well before players reach free agency. The Phoenix Suns extended Devin Booker with a two-year, $145 million deal that produced a $72.5 million average annual salary and a commitment through 2030. Free agency historically allowed players to leverage location, role, and pay by testing the open market. Some players still use free agency to secure larger or longer contracts. Over three years, 17 players signed extensions worth over $200 million, while many others secured average annual salaries exceeding $40 million. Updated rules have influenced team transactions and produced massive paydays.
Read at Business Insider
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