Victor Wembanyama on course to become first basketball billionaire

Published at :January 5, 2024 at 11:10 PM

Modified at :January 13, 2024 at 11:29 AM

(Courtesy : Forbes)

The French sensation was picked up by San Antonio Spurs in 2023 NBA draft.

Victor Wembanyama, the 7-foot 4-inch French sensation, is on track to make history as the first professional basketball player to earn $1 billion on the court. The 20-year-old, who was selected by the San Antonio Spurs as the top pick in the 2023 National Basketball Association (NBA) draft, has already signed a four-year, $55.2 million rookie contract, the largest possible deal under the US league’s current labor agreement.

This contract marks the beginning of what could be a historically lucrative playing career for Wembanyama. Unlike many of his predecessors who have amassed wealth through endorsement deals and other business ventures, Wembanyama, a native of the Paris suburb of Le Chesnay, stands to enter the ranks of the ultra-wealthy purely through his on-court earnings.

Under the NBA’s current contract limits, Wembanyama could amass more than $1 billion in basketball earnings by the age of 33. After his rookie deal ends, he could be eligible for a five-year rookie max extension deal that would pay him $316 million. If he continues to excel on the court and remains healthy, he could be in line for a so-called supermax contract worth approximately $529 million over five years. This would bring his career earnings to just over $900 million.

A second supermax deal could then put the young star over the billion-dollar hump in its first year. Such a pact could be worth $760 million over five years, according to Bloomberg estimates.

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Few other sports stars have attained billionaire status without help from businesses beyond the field. Shohei Ohtani, who signed with the Los Angeles Dodgers last month for $700 million over 10 years in the richest single contract in any professional sport, could come close to pulling in $1 billion during his playing career.

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