Fortune· 1h ago· 1 min read
LeBron James broke the news himself : the only NBA player currently worth $1 billion has signed with the Philadelphia 76ers. The deal is what's known as the “veteran's minimum” for any player with 10 years or more of service — worth roughly and $8 million over two seasons, ESPN's Shams Charania reported , citing confirmation from James' agent Rich Paul, CEO of Klutch Sports Group.
It's a sharp turn from his last contract with the Los Angeles Lakers, where he made $52.6 million last season as part of a two-year, $104 million extension signed in 2024. The move to Philadelphia's minimum represents a cut of roughly $48 million, or more than 90% of his prior salary.
League mechanics made the number close to unavoidable. With Joel Embiid, Tyrese Maxey and newly acquired Jaylen Brown already consuming the bulk of Philadelphia's cap sheet, the Sixers had nothing left to offer beyond a…
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