Jayson Tatum to Make History with the Largest NBA Contract In History but Plans to Never Spend That Money

Basketball player Jayson Tatum has taken the NBA by storm. After leading the Boston Celtics to their 18th NBA championship and becoming one of the most decorated players in FIBA (The International Basketball Federation) history, the St. Louis native is poised to receive a monumental offer from his team — a $315 million supermax extension.

Photo Via Instagram, @jaytatum0

This offer would be the largest contract in NBA history, according to ESPN reporter Adrian Wojnarowski.

“Once these NBA Finals are over, teams are now allowed to start negotiating contract extensions, negotiating with their own free agents,” the ESPN talking head said on June 17, during the pregame coverage. “Which means that the Celtics will soon present Jayson Tatum with the largest contract in NBA history.”

Tatum just concluded the third year of a five-year, $163 million contract, with a player option in the final year. This includes a $163,000,300 guaranteed, and an average annual salary of $32,600,060. In 2024-25, Tatum will earn a base salary of $34,848,340, while carrying a cap hit of $34,848,340 and a dead cap value of $34,848,340, according to Spotrac.

Making Major Deals

This nine-figure deal is beyond anything Tatum, whose current net worth is $50 million, and his mother, Brandy Cole-Barnes, who is his business manager, could have ever dreamed of. Yet, with a clear vision and a simple plan, the mother-son duo is strategizing steps for them to build generational wealth.

Jayson Tatum with his mother, Brandy Cole-Barnes. Photo Via Instagram, @jaytatum0

Central to their strategy is a commitment to saving every dollar earned in the house that Larry Bird built.

During a 2023 episode of “In Depth with Graham Bensinger,” Tatum explained that before he went into the NBA, he and his mother made an agreement about his finances.

“We had a deal before I got drafted that I couldn’t spend the money I make from the Celtics that we had to live off endorsements,” Tatum said.

The decision was made between the baller, Cole-Barnes, and his accountant, not knowing how many endorsements from brands like the Jordan Brand, Subway, and Gatorade, he would receive so early in his career.

In addition, he has signed contracts with Google, Beats by Dre, NBA 2K, New Era, Ruffles (Flamin Hot BBQ), Unitedmasters, Apple and Metro by Tmoble.

Tatum credits his mother with not only managing his finances but also overseeing every aspect of his brand.

Having his mother on his team is crucial because there’s no one he trusts more or who has his back— especially since he is a young star enjoying the perks of fame and celebrity.

“Jason likes nice things he likes nice watches,” she shares with Bensinger. “Technically, I can’t say, ‘No,’ right? But I’m the one that processes all the wires and gets receipts and then ensures everything and stuff like that.”

According to Cole-Barnes, she can tell when he wants to make a big purchase that he believes she will disapprove of. It is all in his face.

She said, “It’s just this expression on his face and I know exactly what it means… I need to send someone some money… he’s already picked something out and when he tells me the price I’m like, ‘What does this watch do?’ and he’s like, ‘But it’s not the Celtic money’ and that’s his little running joke.”

While the five-time NBA All-Star does like to splurge, he typically is very responsible with spending his money and how he invests.

In February 2024, Tatum made a strategic investment aimed at enhancing the livelihood of new homeowners in his hometown. This investment will fund grants to assist homebuyers with down payments in St. Louis, Missouri, providing a significant boost to the community where Tatum’s journey began, according to The Associated Press.

The athlete has partnered with financial services company SoFi, which gave the Jayson Tatum Foundation, founded in 2017, $1 million to assist in helping single parents to buy their own houses.

In addition to this initiative, JTF also hosts toy drives, back-to-school giveaways, basketball camps in St. Louis and gives away scholarships.

Even with things seeming to roll so smoothly, Cole-Barnes said she is not taking her eye off the goal.

“I’m always going to be his mom but he’s still a grown man you know and my job is to give him as much information as possible so he can make informed decisions,” she said, adding, she was doing this when she had only $100 in her pocket and will continue as long as she can.

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