July 5, 2024
Signing the five-year, $315 million NBA contract doesn’t override Tatum’s pre-draft deal with his mom to save his Celtics earnings.
The Boston Celtics have secured their franchise cornerstone, Jayson Tatum, with a groundbreaking NBA contract.
The five-year, $315 million supermax extension represents the largest deal in league history. Chris Haynes of TNT Sports announced on X. Tatum replied under Haynes’ post on X, leaving a shamrock and trophy emoji under the breaking news. According to Bleacher Report, the athlete’s eligibility for this NBA contract stemmed from his All-NBA First Team selection in the 2022-23 season.
This monumental NBA contract comes on the heels of Boston’s 18th championship victory, in which the 26-year-old played a pivotal role. The young star has consistently demonstrated his value, finishing in the top 10 of MVP voting for three consecutive seasons. His performance in the 2022-23 campaign was particularly impressive, with career-high averages in scoring (30.1 points), assists (4.6), and rebounds (8.8).
BREAKING: Boston Celtics and star Jayson Tatum have reached an agreement on a five-year, $315M supermax extension with a player option that is the largest contract in NBA history, league sources tell @NBAonTNT, @BleacherReport. pic.twitter.com/qVpr94JiAa
Despite the enormous sums involved, Tatum reportedly won’t be spending his NBA contract earnings. In a 2022 interview on “In Depth with Graham Bensinger,” he revealed, “My mom is like the overseer…Everything goes through her.”
He explained that he made a pre-draft agreement with his mother, Brandy Cole-Barnes, to live off endorsement income rather than his earnings from the Celtics. Tatum has shown financial acumen beyond his years. Earlier this year, BLACK ENTERPRISE mentioned that he partnered with SoFi to establish a $1 million fund aimed at promoting financial wellness and homeownership opportunities.
The Celtics’ investment in the Duke alum appears well-justified. The Celtics have seen the playoffs every year of Tatum’s career with the team, including two NBA Finals appearances in the past three years.
Tatum’s teammate, Jaylen Brown, also became eligible for a substantial NBA contract extension following his All-NBA Second Team selection. This dual eligibility has created a complex financial situation for the Boston team. By the 2028-29 season, the Tatum-Brown duo could potentially account for $132 million.
Enter your Email Address below to get our fun-filled Newsletter!
© 2024 Black Enterprise. All Rights Reserved.
