Money has long become main driver of today’s world and NBA stands as one of its key engines. It’s getting harder to remember a time when athletes earned solely through talent and hard work, and team owners didn’t compete by offering massive contracts.
If people once said “football is new oil,” today we can confidently say, “NBA is new oil.” In a single day, deals worth close to a billion dollars are made, and that’s just a glimpse of league’s rise, where every contract is now an investment in future.
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Take Denver for example where forward Aaron Gordon signed new deal with Nuggets for $133 million.
Contract includes player option and trade bonus making it especially favorable for Gordon. This extends his stay with team for three more years starting in 2026. It’s Denver’s second big move this offseason—earlier, they secured a four-year extension with Jamal Murray.
Combined with the contracts of Nikola Jokic and Michael Porter Jr., Denver clearly has long-term plans for success. Don’t forget Gordon was a key player in their 2022-2023 championship run, and his presence could be crucial for future victories.
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But Denver isn’t the only team betting on its players. Houston also making moves. Rockets signed young Turkish talent Alperen Sengun to a five-year, $185 million contract.
This bold move is part of the team’s rebuild around young stars. Last season, Sengun had breakout year, setting personal records in points, rebounds, and assists.
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Although he missed part of season due to injury, that didn’t stop Rockets from offering him long-term deal. It shows their intent to build their future around Sengun—and not just him, but more on that later.
As for Atlanta forward Jalen Johnson also locked in a major deal. His five-year extension for $150 million marks a big milestone for team. Unlike some other stars, his path to NBA wasn’t straightforward, but last season he really shined.
With averages of 16 points, nearly nine rebounds, and over three assists per game, he’s one of league’s most promising young players.
Now that Hawks have parted ways with Dejounte Murray, Johnson becomes key figure in team’s plans. His contract shows Atlanta’s belief in its future, which could look even brighter in few years.
It’s worth noting that these big deals are becoming routine for NBA. Even players outside spotlight are landing multimillion-dollar contracts.
For example, Pelicans forward Trey Murphy signed a four-year deal for $112 million. Though he’ll miss start of the season due to injury, his value to the Pelicans is undeniable.
Murphy one of team’s deadliest shooters and his three-point skills make him core part of their future lineup.
Orlando also made waves, extending Jalen Suggs for five years at $150.5 million. For a player whose NBA career started slower than expected, this is a huge leap forward.
Last season Suggs broke through and became one of league’s top defenders. This contract reflects his talent and shows team’s confidence in his continued growth.
We also can’t forget Houston’s deal with Jalen Green, who signed a three-year, $106 million contract. The unique thing about this deal its relatively short length for player of his caliber, underscoring Houston’s belief that Green’s market value will soar soon. He’s already one of the most promising young scorers in league.
These deals represent just tip of the iceberg. Even non-superstars are securing big paydays. For instance, Jaden Hardy from Dallas signed a three-year, $18 million deal and Corey Kispert of Washington landed a four-year deal for $54 million
Even Moses Moody, who doesn’t often make headlines, got a three-year, $39 million contract from Golden State. Why did so many extensions happen on the same day? It’s all due to the deadline, which fell on October 21.
Why has NBA become new oil? It’s not just about eye-popping numbers. Real reason lies in the ever-growing interest in the league, its stars, and enormous money surrounding it.
A recent multibillion-dollar TV contract proves this. Deals worth hundreds of millions are becoming norm and this trend only gaining momentum. In just one day, nearly a billion dollars in contracts were signed—and this wasn’t even the start of free agency.