Knicks Rumors: Kristaps Porzingis To Receive Raise Via New CBA
The New York Knicks will be paying Kristaps Porzingis more than expected over the next two seasons. The Knicks could also pay $195 million to keep him around.
It’s only a matter of time before Kristaps Porzingis becomes one of the wealthiest players in the NBA. He’s a rising star in a major market with youth on his side and the upside of a legitimate superstar.
As a result of the new CBA, Porzingis stands to be one of the players who redefines what it means to accumulate wealth in the NBA.
Between the rising salary cap and the adjustments made to the CBA, players stand to sign unprecedented contracts. Players who are currently on their rookie contracts stand to benefit from rather significant raises, as well.
According to Marc Berman of The New York Post, Porzingis acknowledged the financial improvement he stands to benefit from, but isn’t focused on money.
“I heard a little about it,’’ Porzingis said before Tuesday’s game against the Pacers. “It’s not bad. But it’s never money for me but it’s cool a lot of money is being thrown around this league.’’
Since he was drafted, all Porzingis has seemed to care about is improving as a basketball player and letting the rest sort itself out.
Financially speaking, the rest is sorting itself out quite well.
Per Berman, Porzingis’ salaries project to rise from $4.5 million to $5.1 million in 2017-18 and $5.63 million to $7.28 million in 2018-19. That’s a healthy improvement of $2.25 million over a two-year span.
Intriguing as that is, it’s after 2018-19 that Porzingis truly stands to benefit.
That starting max wage for Porzingis in 2019 is projected at $27.5 million, according to sources. In the old agreement, a fifth-year player next year would have started at a long-term max of $21 million
That’s a difference of $6.5 million per season in starting base salary.
It’s also worth noting that Porzingis could qualify for the Derrick Rose Rule, which would allow him to make 30 percent of the salary cap instead of 25 percent. Under the previous CBA, the requirements to qualify were to be a two-time All-Star starter, two-time All-NBA selection, or an MVP.
If Porzingis manages to check the boxes on the updated requirements, his first max contract could be worth $195 million, per Berman.
It’s a great time to be an NBA player.
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