Sport

Basketball star LeBron James tops the NBA’s highest-paid players for second year

IN THE MONEY: LeBron James

IN THE MONEY: LeBron James

FOR THE second year straight, basketball star LeBron James is the NBA’s with a £71 million fortune.

The 31-year-old’s salary with the Cleveland Cavaliers is $23 million, third highest in the league.

LeBron, four-time NBA MVP, opted out of his two-year Cavs’ contract last summer and signed another two-year year deal at a higher rate that again allows him to opt-out after the first year.

It is a way to maximize his salary and take advantage of the rising salary cap.

Lebron makes more than twice as much off the court as on with an estimated $48 million.

Nike has been King James’ chief backer since he entered the NBA out of high school in 2003 with a seven-year, $90 million contract from the Swoosh.

LeBron has expanded his empire with a series of deals outside the traditional NBA space. He launched a production company, SpringHill Entertainment, in 2008 with business partner Maverick Carter (it signed a deal with Warner Bros. Entertainment last year).

In 2011, he joined forces with Fenway Sports Management, which netted him a seven-figure payout, and a stake in soccer club Liverpool.

LeBron invested in assembly-line pizza franchise Blaze in 2012 and secured franchise rights for the Chicago and south Florida markets.

He currently has seven franchises in Chicago and four in Florida with more on the way.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s