The Washington Wizards and shooting guard Bradley Beal reached an agreement Thursday on a two-year, $72 million contract extension that brings his overall deal with the team to $130 million over four years.
Mark Bartelstein, Beal's agent, confirmed the extension details to ESPN's Adrian Wojnarowski.
The 26-year-old University of Florida product also becomes eligible to sign the richest contract the NBA has ever seen at five years and $266 million in 2022 if he opts out of his deal a year early, per Woj.
Here's a look at the biggest contracts in NBA history (via Spotrac unless otherwise linked):
- James Harden (Houston Rockets): $228 million over six years
- Russell Westbrook (Rockets): $207 million over five years (signed with Oklahoma City Thunder)
- Stephen Curry (Golden State Warriors): $201 million over five years
- Klay Thompson (Warriors): $190 million over five years
- Tobias Harris (Philadelphia 76ers): $180 million over five years
- Khris Middleton (Milwaukee Bucks): $178 million over five years
- Blake Griffin (Detroit Pistons): $171 million over five years (signed with Los Angeles Clippers)
- John Wall (Wizards): $171 million over five years
- Kevin Durant (Brooklyn Nets): $164 million over four years
- Chris Paul (Thunder): $160 million over four years (signed with Rockets)
Contract values continue to skyrocket. A lot was made of the five-year, $153 million extension inked by Memphis Grizzlies point guard Mike Conley Jr. in July 2016, which was at the time the richest deal in history. Now with the Utah Jazz, his deal has already slid all the way down to No. 15 among those with active players.
A potential roadblock emerged in recent weeks with the controversy between the NBA and China, however, which was sparked by a pro-Hong Kong Twitter post by Rockets general manager Daryl Morey.
Keith Smith of Yahoo Sports reported last week teams have started to prepare for a potential drop in the salary cap by 10-15 percent for the 2020-21 season based on possible lost revenue from a boycott from the Chinese.
"After all the money everyone spent last summer, this would have a major impact on all of us," a league source told Smith.
At least for now, it appears the situation isn't preventing front offices from handing out massive contracts to their top players as Beal's extension illustrates.