Sports entertainment comes at a price, and the Big Four sports in North America have made many athletes very wealthy.
Through the 2023 NBA and NFL seasons, eight players hold contracts with average salaries of more than $50 million.
MLB and NHL numbers are taken into account but fall below the mark. Justin Verlander and Max Scherzer share the MLB’s top annual mark at $43.3 million, while Nathan MacKinnon is the NHL leader with $12.6 million.
Looking ahead to 2024, newly signed Los Angeles Dodgers star Shohei Ohtani may take the top spot thanks to his $70 million average deal. (Of course, since 97 percent of the amount is deferred for a decade, this is probably just a conversation in 2034, anyway.)
All contract data is taken from Spotrac.
Footballers (world football) and golfers were not included, although an influx of money from Saudi Arabia’s Public Investment Fund has dramatically changed the context of both sports.
Annual average: $50.2 million
For the first 11 years of his career, Bradley Beal played a leadership role for the Washington Wizards. However, this season, the veteran guard was traded to the Phoenix Suns.
His contract is a notable part of that.
Bell is currently in the second season of a five-year, $251 million extension he signed in July 2022. Between his recent injury issues and Washington’s recent overall struggles, the franchise has essentially given up on his contract with the Suns while embracing a difficult rebuilding process.
Phoenix, on the other hand, has paired Beal with Kevin Durant and Devin Booker in hopes of gunning for an NBA title.
Annual average: $51 million
Not a bad deal for System Quarterback, huh?
QUICK TECH: Jalen Hurts’ contract doesn’t officially start until 2024, compared to how long. Because of the NFL’s salary cap rules, the deal actually impacts his earnings. It’s a common trend you’ll see.
Since taking over the Philadelphia Eagles in 2021, he has developed into a star. Hurts guided the Eagles to the playoffs in his QB1 debut before helping them reach the Super Bowl in 2022 — a season in which he finished as MVP runner-up.
Following that campaign, Hurts signed a five-year, $255 million extension that was briefly the highest annual salary in the NFL ever.
Annual average: $52 million
Ten days after Hurts signed his extension, Lamar Jackson broke the annual value record, once again owning the tag on a very temporary basis.
Jackson, who is representing himself in negotiations, signed a five-year, $260 million agreement with the Baltimore Ravens. He had $135 million in guaranteed money, including a massive $72.5 million signing bonus.
Baltimore has been a perennial playoff contender in his five-plus seasons with Jackson, one of the most prolific dual-threat quarterbacks of all time. He won the league’s Most Valuable Player award in 2019.
Jackson’s contract runs until 2027.
Annual average: $52.5 million
This trend continues with Justin Herbert.
Jackson’s tag lasted three months until Herbert and the Los Angeles Chargers reached a five-year, $262.5 million deal.
His extension starts in 2025, but — like Hurts and the next QB — the contract immediately increases Herbert’s salary in 2023. His annual cap money jumped from $4.2 million to $17.1 million.
Herbert, the 2020 AP Rookie of the Year, has consistently been among the most productive quarterbacks in the NFL. This did not always lead to success; Los Angeles reached the playoffs in 2022 and suffered a historic collapse to the Jacksonville Jaguars. The team’s disappointing 2023 campaign led to the firing of coach Brandon Staley as well.
No matter how the Chargers decide to handle the future, they will build around Herbert.
Annual average: $53.3 million
Fortunately for Joel Embiid and the Philadelphia 76ers, his miserable injury woes during his first three seasons are in the past.
Yes, you knocked on wood, Sixers fans.
Philly took a calculated risk in 2017, signing Embiid to a five-year, $147.7 million deal, despite playing in just 31 games to that point. The decision has paid off incredibly well. He has since become a five-time All-NBA All-Star, was named to the All-Defensive Team three times and was named league MVP last season.
Prior to the 2021 season, Embiid agreed to a four-year, $213.2 million supermax extension that began this year.
Annual average: $53.8 million
Perhaps the most impactful part of the Golden State Warriors’ dynasty is that they had Stephen Curry on a four-year, $44 million contract from 2013-14 to 2016-17. This inexpensive deal played a major role in the Dubs having cap space to add Kevin Durant in 2016.
However, after two tournaments, the legendary long-range shooter became a very expensive player. twice.
Curry recently completed a five-year, $201.2 million pact that included his third and fourth championships. That contract expired in the summer of 2022, when he signed a four-year extension for $215.4 million.
As of 2023-24, the only players with career earnings higher than Curry’s $354.7 million are LeBron James, Durant, and Chris Paul.
Annual average: $55 million
Herbert had a reign of six weeks. At least for now, Joe Burrow holds the most annual value in NFL history.
The first overall pick of the 2020 draft, Burrow quickly elevated the Cincinnati Bengals into a Super Bowl contender. He took the franchise to the biggest stage during the 2021 season, and the Bengals made the AFC Championship in 2022.
Cincinnati has traditionally been a cost-conscious — and sometimes cheap — franchise. Burrow became an exception to the relative rule, receiving a five-year deal worth $275 million with $219 million guaranteed.
Injuries hampered him in 2023, but Burrow will return in 2024 as one of the most respected quarterbacks in the NFL.
Annual average: $55.2 million
Nikola Jokic, a more modest star, plays a slow, destructive style of basketball.
A second-round pick of the Denver Nuggets in 2014, he debuted the following year and quickly showed his versatility. In 2018, Jokic signed a five-year, $147.7 million extension, which proved to be an absolute bargain.
Joki earned five All-NBA titles, two Most Valuable Players, one Finals MVP, and one championship over those five seasons. He averaged 23.5 points, 11.4 rebounds and 8.0 assists along the way.
In the summer of 2023, Jokic signed a record $276.2 million contract for the next five seasons.
In the world of professional sports, top athletes command some of the highest salaries in the workforce. As we look ahead to 2023, the competition for the highest annual salaries in US professional sports is heating up. From basketball to football, baseball to soccer, the list of athletes commanding eye-popping salaries continues to grow. With skyrocketing television deals and growing revenue streams, the market for elite talent has never been hotter. Let’s take a look at the athletes who are set to earn the highest annual salaries in US professional sports for 2023.