Basketball has become increasingly popular in recent years and has also been conquering a larger number of players around the world. Among the factors that explain the sport's success, it is the use of the athletes' image, which has been a strategic focus of promotion mainly for the NBA since the 1980s and 1990s with Larry Bird, Magic Johnson and, needless to say, with Michael Jordan. This business model adopted by the league, which puts athletes in the spotlight and makes them more 'marketable' than even the franchises themselves, is centered this way because after all, without the players, there would be no games. Thus, in 2017, it was defined through the NBPA's 'Collective Labor Agreement' that athlete should receive between 49% and 51% of the NBA's revenue
Furthermore, salaries alone may seem astronomical, but the biggest revenue potential is in fact how athletes use that money and take advantage of their personal brands at the peak of their careers. Known as a reference in this type of business approach, Lebron James and Kevin Durant found ways to achieve this goal and thus built their empire, being in the list of the 10 highest paid athletes ranked by Forbes magazine in accumulated value from 2010 and repeating such figures in this year's ranking.
This year, LeBron James broke yet another record off the courts, becoming the most profitable active basketball player in a year, reaching the $96.5 million mark. His decision in 2018 to enter the Los Angeles market was not in vain, as the player became a reference in media production in Hollywood with his company SpringHill Co, which has been awarded as one of the most innovative of 2021 in the list of Fast Company and it also released the movie Space Jam 2.
Out of his yearly income in 2020, $31.5 million represents his salary at the Lakers, while 65 million represents his off-court earnings from his brands and sponsorships, such as Pepsi's latest ad and his Liverpool FC, Roush Fenway Racing and the Boston Red Sox stakes.
Kevin Durant, since making the controversial decision to join the Golden State Warriors in 2016, has made clear the direction he would like to take his career and how he wanted things to work. And so he did, being twice champion and named MVP player in both finals, in addition to a ten-year contract with Nike, having also several other sponsorships signed with major companies and the consolidation of Thirty Five Ventures, his brand that serves as a portfolio investment, media, philanthropy and other initiatives. More than 75 startups have already received investments from his company, including Coinbase, The Players Tribune, Mars Reel and Postmates, acquired this year by Uber for more than 2.6 billion dollars
Like LeBron, Kevin has grasped the game of business, and his off-court revenue has reached twice the figure of his salary today at the Brooklyn Nets. Both still have a long career ahead of them as players in addition to simultaneously developing more the sports and the entertainment industry, and also showing how athletes should be valued and maximized both on and off the courts.
