Magic Johnson Contract: What Was It?

Magic Johnson, a legendary NBA player, signed a 25-year, $25 million contract with the Los Angeles Lakers in 1981, marking the longest and richest deal in sports history. The deal was the equivalent of a $75,000,000 contract in 2021, and it gave him the opportunity to earn $1 million per year.

In his first four years in the league, his rookie contract offered him $460,000 per year. However, he earned $1,000,000 in four years (1984/85). In 1981, Lakers owner Jerry Buss announced that Magic Johnson had signed a 25-year, $25 million contract with the Lakers, which would pay out $1 million per year starting in 1984 and spanning until 2009.

Magic Johnson’s career began with a four-year, $600,000 deal with the Lakers in 1979, but owner Jack Kent Cooke reduced it to $500,000. After almost stepping away from the offer, Johnson signed a 25-year, $25 million contract with the Lakers, including $25,000,000 guaranteed, and an average annual salary of $1,000,000.

Johnson earned close to $40 million in his 15-year NBA career and signed a 25-year deal with the Lakers in 1984. He became a part-owner of the Lakers in 1991 and later announced in 1991 that he had tested positive for HIV and was retiring from the NBA. Johnson’s contract with the Lakers was the longest and richest deal in NBA history, and it impacted his teammates and rivals.

In conclusion, Magic Johnson’s 25-year, $25 million contract with the Lakers marked a significant milestone in his career, earning him close to $40 million in his 15-year NBA career. His contract with the Lakers was a testament to his dedication and commitment to the sport, and his legacy continues to inspire fans and coaches.