First, and probably most important, since 1995 the NBA …

First, and probably most important, since 1995 the NBA has had a system set in place for first-round picks to receive four-year contracts, the first two years of which are guaranteed. The salaries are set on a sliding scale. The higher the pick, the higher the salary. For example, in this year’s draft the No. 1 pick will be slotted to earn $6,746,400 in his rookie year and $7,901,100 in his second year. The last pick of the first round will earn $1,338,900 and $1,568,000, respectively, in his first two years. Conversely, contracts are fully negotiable for second-round draft picks. The players are only entitled to the required tender offer, which is a non-guaranteed minimum contract, in which case salaries are paid on a pro-rata basis. That means a player drafted in the second round can be cut by a team at any time and without being paid any additional money. I hope that the risk of this scenario is obvious.
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August 11, 2022 | 3:12 pm EDT Update
In addition to retiring Russell’s number, the NBA will pay tribute to the Boston Celtics’ legend throughout the 2022-23 season. All NBA players will wear a commemorative patch on the right shoulder of their jerseys, and every NBA court will display a clover-shaped logo with the No. 6 on the sideline near the scorer’s table. The Celtics, for whom Russell played his entire career and coached, will have a separate and unique recognition for him on their uniforms, to be announced soon. Russell’s jersey number, which he wore for his entire 13-season career from 1956-69, will not be issued again by any NBA team to any player. Players who currently wear No. 6 will be grandfathered.

August 11, 2022 | 2:41 pm EDT Update