Nothin’ But Net … Worth

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Source: SportsManagementDegreeHub.com

Nothin’ But Net … Worth

7 NBA Stars Who Get Business Done Off the Court!

It is no surprise that NBA players make a ton of money. What may surprise you is that a staggering 60% of NBA players go broke after they stop playing professional basketball.

The average number of years a person plays in the NBA is 4.8 years. The average salary an NBA player makes is $5.15 million a year. That means that the average NBA player makes a career salary of $24.7 million.

[Side Note: Here is a chart of the minimum salaries for NBA Players according to the Collective Bargaining Agreement of 2011. Even if a person plays for 4.8 years at the league minimum he will make around $4 million.]

Years of Service 2011-2012 2012-2013 2013-2014 2014-2015 2015-2016 2016-2017 2017-2018 2018-2019 2019-2020 2020-2021 0 $473,604 $473,604 $490,180 $507,336 $525,093 $543,471 $562,493 $582,180 $602,557 $623,646 1 $762,195 $762,195 $788,872 $816,482 $845,059 $874,636 $905,249 $936,932 $969,725 $1,003,665 2 $854,389 $854,389 $884,293 $915,243 $947,276 $980,431 $1,014,746 $1,050,262 $1,087,021 $1,125,067 3 $885,120 $885,120 $916,099 $948,163 $981,348 $1,015,696 $1,051,245 $1,088,038 $1,126,120 $1,165,534 4 $915,852 $915,852 $947,907 $981,084 $1,015,421 $1,050,961 $1,087,745 $1,125,816 $1,165,220 $1,206,002 5 $992,680 $992,680 $1,027,424 $1,063,384 $1,100,602 $1,139,123 $1,178,992 $1,220,257 $1,262,966 $1,307,170 6 $1,069,509 $1,069,509 $1,106,942 $1,145,685 $1,185,784 $1,227,286 $1,270,241 $1,314,700 $1,360,714 $1,408,339 7 $1,146,337 $1,146,337 $1,186,459 $1,227,985 $1,270,964 $1,315,448 $1,361,489 $1,409,141 $1,458,461 $1,509,507 8 $1,223,166 $1,223,166 $1,265,977 $1,310,286 $1,356,146 $1,403,611 $1,452,738 $1,503,583 $1,556,209 $1,610,676 9 $1,229,255 $1,229,255 $1,272,279 $1,316,809 $1,362,897 $1,410,598 $1,459,969 $1,511,068 $1,563,956 $1,618,694 10+ $1,352,181 $1,352,181 $1,399,507 $1,448,490 $1,499,187 $1,551,659 $1,605,967 $1,662,176 $1,720,352 $1,780,564

Here is a list of 7 business savvy NBA players who were able to turn their earnings into more cash. They are ranked by what we call the “Turn-a-Buck Ratio.”

1. Ulysses “Junior” Bridgeman

Ulysses “Junior” Bridgeman is the wealthiest former basketball player that you’ve never heard of. The man made far less playing basketball than the majority of the players on this list. Yet, his net worth is the 3rd highest. He buys restaurants so quickly it’s hard to keep up. These numbers are current to January 2014.

Turn-a-Buck Ratio: 95:1

Net Worth: $400 million

$400 million Career Basketball Salary: $4.2 million*

Stats

Positions: Small Forward, Shooting Guard

Small Forward, Shooting Guard Teams: Milwaukee Bucks, Los Angeles Clippers

Milwaukee Bucks, Los Angeles Clippers Years: 12 (1975-1987)

12 (1975-1987) Points per Game (PPG): 13.6

13.6 Rebounds per Game (RPG): 3.5

3.5 Assists per Game (APG): 2.4

2.4 Steals per Game (SPG): 0.8

0.8 Player Efficiency Rating (PER): 13.74

Notable Investments

196 Wendy’s franchises

125 Chili’s restaurants

30 Blaze Fast Fire’d Pizza stores

Partial owner of Milwaukee Soda’s Black Bear Beverages

Currently exploring purchasing a partial share in the Milwaukie Bucks

*No record was found for Bridgeman’s career salary so we generously used his peak salary ($350,000 in 1985) for all 12 years of his career.

2. Earvin “Magic” Johnson

Magic Johnson made it to our number two spot because of his wise investments. Today, most of Johnson’s net worth is tied up in Magic Johnson Enterprises (MJE). MJE houses multiple businesses in a variety of industries such as real estate, restaurants, and media. MJE is valued at $1 billion giving Johnson a net worth of $500 million.

Turn-a-Buck Ratio: 28:1

Net Worth: $500 million

$500 million Career Basketball Salary: $18 million

Stats

Positions: Point Guard

Point Guard Teams: Los Angeles Lakers

Los Angeles Lakers Years: 13 (1979-91, 1995-96)

13 (1979-91, 1995-96) Points per Game (PPG): 19.5

19.5 Rebounds per Game (RPG): 7.2

7.2 Assists per Game (APG): 11.2

11.2 Steals per Game (SPG): 1.9

1.9 Player Efficiency Rating (PER): 24.1

Notable Investments

105 Starbucks franchises (sold in 2010 for approximately $75 mill)

4.5% of the Lakers (sold in 2010 for approximately $27 mill)

Partial owner of the Los Angeles Dodgers ($50 million) and the Los Angeles Sparks

Real estate, restaurants, media, and movie theaters

3. Michael Jordan

Technically, the majority of Michael Jordan’s wealth did not come from investing money. However, his negotiations with Nike that gave him royalties of the Jordan Brand was a great move. He makes over $60 million a year from that deal alone. With the highest net worth of any professional basketball player in history, Jordan deserves to be on this list.

Turn-a-Buck Ratio: 7:1

Net Worth: $650 million

$650 million Career Basketball Salary: $93.7 million

Stats

Positions: Shooting Guard

Shooting Guard Teams: Chicago Bulls, Washington Wizards

Chicago Bulls, Washington Wizards Years: 15 (1984-93, 1994-98, 2001-03)

15 (1984-93, 1994-98, 2001-03) Points per Game (PPG): 30.1

30.1 Rebounds per Game (RPG): 6.2

6.2 Assists per Game (APG): 5.3

5.3 Steals per Game (SPG): 2.3

2.3 Player Efficiency Rating (PER): 27.9

Notable Investments

A handful of restaurants

Car Dealership

Motorsports Team

80% of the Charlotte Bobcats

4. David Bing

David Bing founded his own steel company called Bing Steel in 1980. By 2009 the company reported $400 million in sales. Bing’s company was hit hard by the recession and sold around 2010 otherwise he would probably be higher on this list. Bing was elected Mayor of Detroit in 2009 and has since been re-elected to a second term.

Turn-a-Buck Ratio: 2.5:1

Net Worth: $5 million

$5 million Career Basketball Salary: $2 million*

Stats

Positions: Guard

Guard Teams: Detroit Pistons, Washington Bullets, Boston Celtics

Detroit Pistons, Washington Bullets, Boston Celtics Years: 12 (1966-78)

12 (1966-78) Points per Game (PPG): 20.3

20.3 Rebounds per Game (RPG): 3.8

3.8 Assists per Game (APG): 6.0

6.0 Steals per Game (SPG): 1.3

1.3 Player Efficiency Rating (PER): 17.6

Notable Investments

Bing Steel

Bing Metals Group

Bing-Lear Manufacturing

* A generous estimation based on salaries for 1966 ($15,000), 1969-1971 ($450,000 total), 1976 ($225,000), and 1977 ($190,000).

5. LeBron James

James is the only active player on our list. What makes him so brilliant is the way he approaches deals. He is a brilliant negotiator. Not only does he get creative control over ad campaigns in which he appears but he also attempts to get stake in the companies with whom he does business. His net worth could grow over a billion dollars eventually.

Turn-a-Buck Ratio: 2:1

Net Worth: $185 Million

$185 Million Career Basketball Salary: $92 million

Stats

Positions: Forward

Forward Teams: Cleveland Cavaliers, Miami Heat

Cleveland Cavaliers, Miami Heat Years: 11 (2004 – Present)

11 (2004 – Present) Points per Game (PPG): 27.5

27.5 Rebounds per Game (RPG): 7.2

7.2 Assists per Game (APG): 6.9

6.9 Steals per Game (SPG): 1.7

1.7 Player Efficiency Rating (PER): 27.8

Notable Investments

Partial owner of Liverpool FC

Cofounded PureBrands and the clothing store UNKNWN

A limited edition drink with Sprite

A mobile App exclusively for Samsung mobile devices

Partnerships with American Signature furniture, Beats by Dr. Dre, and Cannondale bikes

Executive Producer of the Starz network’s upcoming original series called “Survivor’s Remorse”

6. Hakeem “The Dream” Olajuwon

Hakeem “The Dream” is best known for his signature move on the court, the Dream Shake. While the Dream Shake made him one of the best Centers of all time, his knack for playing the real estate market has made his net worth sky rocket. One of his most noteworthy investments was when he made $13 million in profit selling swampland to Houston’s transportation agency.

Turn-a-Buck Ratio: 1.9:1

Net Worth: $200 Million

$200 Million Career Basketball Salary: $107 Million

Stats

Positions: Center

Center Teams: Houston Rockets, Toronto Raptors

Houston Rockets, Toronto Raptors Years: 18 (1984-2002)

18 (1984-2002) Points per Game (PPG): 21.8

21.8 Rebounds per Game (RPG): 11.1

11.1 Assists per Game (APG): 2.5

2.5 Blocks per Game (BPG): 3.1

3.1 Player Efficiency Rating (PER): 23.6

Notable Investments

Real Estate

DR34M – a clothing, accessories, and body products line

7. Shaquille O’Neal

Shaquille O’Neal’s LinkedIn profile says it all, “CEO, President: A Lot of Companies, Inc.” While his career salary was extremely high, his investments could help him become the first former NBA billionaire. If that weren’t enough, in May 2014, Shaq wrapped up a crowd funding campaign to fund the creation of a new video game sequel called “Shaq-Fu: A Legend is Reborn.”

Turn-a-Buck Ratio: 1.2:1

Net Worth: $350 million

$350 million Career Basketball Salary: $292 million

Stats

Positions: Center

Center Teams: Orlando Magic, Los Angeles Lakers, Miami Heat, Phoenix Suns, Cleveland Cavaliers, Boston Celtics

Orlando Magic, Los Angeles Lakers, Miami Heat, Phoenix Suns, Cleveland Cavaliers, Boston Celtics Years: 19 (1992-2011)

19 (1992-2011) Points per Game (PPG): 23.7

23.7 Rebounds per Game (RPG): 10.9

10.9 Assists per Game (APG): 2.5

2.5 Blocks per Game (BPG): 2.3

2.3 Player Efficiency Rating (PER): 26.4

Notable Investments

A partner in Metropolitan Miami

Movie theaters and night clubs

55 Five Guys restaurants

17 Auntie Anne’s Pretzels stores

Many 24-Hour Fitness Clubs

150 carwashes

A pre-IPO investor in Google

Owns equity in Muscle Milk, Vitamin Water, and Tout.

Sources: