Polymarket Paying LeBron James $15 Million Raises Alarm Bells on 76ers Pay Cut – “Cap Circumvention”

LeBron James will reportedly earn $15 million per year from Polymarket, far more than his 76ers salary.

Polymarket Paying LeBron James $15 Million Raises Alarm Bells on 76ers Pay Cut – “Cap Circumvention”

LeBron James (Image credits - AP News)

LeBron James may be heading into his 24th season, but he is still the biggest name and draw in the league. After shocking the NBA world by not re-signing with the Los Angeles Lakers in the summer, James signed a two-year, $4 million deal with the Philadelphia 76ers as a free agent.

Drafted by the Cleveland Cavaliers as the number one pick in 2003, James has carried the league on his shoulders for two decades. He not only surpassed expectations, but also cemented his place in the history books and has arguably had the greatest career of all time.

During his career, James has become the most marketable athlete in the NBA. After his endorsement deal with gambling operator DraftKings came to an end this year, he signed a new deal with prediction market platform Polymarket.

According to Front Office Sports, James is set to earn $15 million per year, which is more than three times his salary with the 76ers.

SCOOP: LeBron James will be paid $15 million per year under his endorsement deal with Polymarket. That’s roughly $11 million more than the 76ers will pay him this season to play basketball.

Ben Horney on Front Office Sports

The King shared a short video announcing his partnership with Polymarket last week. The announcement drew sharp reactions across social media as prediction markets often draw comparisons to traditional gambling.

Just like his playing career, James has been very successful off the court as well with all his business ventures and endorsement deals. But his latest deal with Polymarket saw him receive criticism.

However, James is one of the many athletes who have collaborated or invested in prediction markets. A few months ago, former MVP Giannis Antetokounmpo had invested in Kalshi, which is a prediction market as well. The NBA has no rule banning its players from partnering with prediction markets.

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Fans react to LeBron James’ $15 million deal with Polymarket

It is not easy to be LeBron James. His actions on and off the court generate reactions across the NBA world. Sources say that his latest partnership with Polymarket is not as an investor but as an endorser.

After making $53 million with the Lakers last season, he took a huge pay cut to join the 76ers this year. The pay cut lets him join a team that can contend for a championship without taking up too much cap space.

Hence, some fans sparked NBA salary cap questions after his reported $15 million deal with Polymarket.

The deal also raised broader questions about endorsement money and NBA cap rules. Despite signing just a $4 million deal per year with the 76ers, James seems to be making up for the money he lost by signing up for Polymarket.

LeBron James’ Polymarket deal sparks NBA cap questions

The NBA cap rules have been in the spotlight for a while now after the Los Angeles Clippers and Kawhi Leonard signed multiple hidden sponsorship deals to circumvent the salary cap. While they were handed strict punishments after the NBA investigation, Draymond Green suggested that the NBA should abolish the salary cap altogether.

LeBron James
LeBron James (Image credits – Fox News)

NBA insider Brett Siegel raised questions about what similar endorsement agreements could mean for future player contracts after LeBron James‘ Polymarket deal.

As far as my knowledge goes, this doesn’t interfere with any CBA rules, but moving forward, these side deals players have with companies could directly lead to smaller contracts to help with cap relief, which in theory, is kind of like cap circumvention.

Brett Siegel on X

Right now, there is no indication that James’ deal with Polymarket is connected to the 76ers. However, Siegel made a valid point that such deals may become more common and potentially make it easier for players to accept lower salaries on their NBA contracts

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