Jayson Tatum plays for the Boston Celtics. Early this year, he signed a historic deal in the NBA after he agreed to a five-year $315 million contract extension. The deal is said to be the largest contract in NBA history, surpassing his previous contract in November 2020, a five-year, $195 million max extension.
Before Tatum’s contract, Boston Celtics player Jaylen Brown held the record for the richest contract in the history of the NBA. He signed a five-year Supermax contract extension that ends in 2029 and will pay him up to $304 million.
Despite the money he makes, NBA star Tatum tries to avoid being financially indisciplined like others before him. It is not uncommon to hear stories of NBA players literally going from millions to being bankrupt. This challenge is largely due to a lack of sound financial advice or poor management.
RELATED STORIES
In the case of Tatum, to avoid being financially indisciplined like others before him, he struck a deal with his mother not to touch his earnings.
Today, Tatum is gravitating towards being an investor to bring a potential WNBA team to his hometown of St. Louis. As per Sportico, Tatum is joining two billionaires in their bid to bring the league’s 16th team to Missouri City.
As per Sportico, the ownership group is led by billionaires Richard Chaifetz and David Hoffman. Chaifez’s previous investments include the Alpine F1 team, Major League Pickleball, and the Drone Racing League. Hoffman, on the other hand, is a real estate developer who owns a St. Louis Blues minor league affiliate, the Florida Everblades.
The ownership group faces competition from 10 other cities, as per WNBA Commissioner Cathy Engelbert. “St. Louis is a top-tier sports market, and we believe that bringing a WNBA franchise to the region will be a defining moment in the city’s ongoing revitalization,” said Don Soffer, the spokesperson for the effort to establish the 16th team in St. Louis.
As per Black Enterprise, Tatum wants to contribute behind the scenes to the group’s pitch to other potential investors and the league itself.
“The good news is we have a lot of demand from many cities,” Engelbert said before the WNBA Finals. “I’d say 10 or so, maybe even plus at this point, because I think the more people are watching the WNBA and seeing what we’re growing here and seeing these players and the product on the court, the more people are interested in having it in their cities.”
Cities such as Denver, CO; Miami, FL; Milwaukee, WI; Kansas City, MO; and Philadelphia, PA, are reportedly eyeing the expansion team. The chosen city could pay more than $200 million for the franchise slot.
