Why did Magic Johnson accept a 25 year, $25 million contract w/ the Lakers?

[bmd]

I'm watching the movie "Magic and Bird - A Courtship of Rivals" on Youtube..

http://www.youtube.com/watch?v=jtykE...eature=related


It says Magic Johnson signed the longest and largest contract in sports at the time.

Surely he should have known that 25 million over 25 years is going to be less than other people are earning over their careers.

Why'd he sign that contract?

[DTreats]

Because he's the greatest non heterosexual athlete in history.

[NumberSix]

Originally Posted by DTreats

Because he's the greatest non heterosexual athlete in history.

[DTreats]

Also, $25 million is A LOT of money for a poor urban kid .

[bmd]

Originally Posted by DTreats

Also, $25 million is A LOT of money for a poor urban kid .

Sure it is... but over 25 years? I mean, of course it it still a lot of money. But I'm comparing it to what he COULD have made over 25 years if he didn't sign a contract for so long and had a chance to sign new contracts throughout his career based on his increased market value.

NBA players weren't making much in the 80's. Superstars were making $1-2 million per season.

It wasn't until the mid-90's that superstars started making $10+ millions.

Also, remember that when NBA was on CBS they weren't even showing every Finals games on primetime. Playoffs barely made it on TV.

[DTreats]

Originally Posted by bmd

Sure it is... but over 25 years? I mean, of course it it still a lot of money. But I'm comparing it to what he COULD have made over 25 years if he didn't sign a contract for so long and had a chance to sign new contracts throughout his career based on his increased market value.

At THAT time 25 million for 25 years was crazy dude.

I think only Kareem was making 1 million per year, maybe another but still.

In baseball Nolan Ryan was making a little over 1 million per year.

It was a HUGE deal at that time, times are very different today.

[Rubio2Gasol]

Always the chance of injury

[OldSchoolBBall]

Didn't they give him an ownership or management stake in the contract to after his playing days were over?

$1 million per season is beyond good in 1980-81.

[TheBigVeto]

Originally Posted by bmd

I'm watching the movie "Magic and Bird - A Courtship of Rivals" on Youtube..

http://www.youtube.com/watch?v=jtykE...eature=related


It says Magic Johnson signed the longest and largest contract in sports at the time.

Surely he should have known that 25 million over 25 years is going to be less than other people are earning over their careers.

Why'd he sign that contract?

He's greedy and delusional.

[WeGetRing2012]

Originally Posted by bmd

I'm watching the movie "Magic and Bird - A Courtship of Rivals" on Youtube..

http://www.youtube.com/watch?v=jtykE...eature=related


It says Magic Johnson signed the longest and largest contract in sports at the time.

Surely he should have known that 25 million over 25 years is going to be less than other people are earning over their careers.

Why'd he sign that contract?

He didn't at the time it was a great contract.

[L.Kizzle]

Not sure anyone else was makin close to 1 mill a year.

[Haymaker]

That would be like 3.50 mil per year today.

[Kblaze8855]

He signed for twice what doctor J made the previous year...for the next 25 years. Imagine that....getting 25 years of double the biggest stars money after your rookie season?

Moses Malone had the first million dollar(single season) deal like a year earlier. Kareem wasnt even making a million. bird made like 600 thousand at the time.

People had million dollar deals but spread over years. Pistol Pete had the first million dollar deal I think. And it was like a 3-4 year deal.

Magic had no way of knowing how insane deals would get after the Hawks broke the system by giving Koncak Bird/Jordan/Barkley money.