Wasserman Inks Over Half A Billion Dollars In Deals
Per an article from SportsBusiness Journal, NBA Agents of Wasserman inked over $600 million dollars in contracts and endorsement deals for their clients this summer. In December of 2016 the NBA collective-bargaining agreement adjusted the designated player rule. This rule allows star players to sign to five-year deals valued at 35 percent of the team’s salary cap but the player must be in the league seven to nine years. The previous rule limited deals to four years at 30 percent of the team’s salary cap. This rule is available for league MVPs, All-NBA team winners and defensive players of the year. This rule change played in favor for many NBA veterans who cashed in on new contracts.
Among Wasserman’s 15 contract deals worth $387.7 million dollars was Oklahoma City Thunder’s superstar Russell Westbrook who signed a five-year $205 million contract extension. Westbrook’s contract was the most lucrative total contract in NBA history. The fashion forward superstar also signed a 10-year endorsement deal with Jordan Brand that was claimed to be “the most lucrative deal for a Jordan athlete to date” (No financial terms were announced). Both of Westbrook’s contracts were represented by NBA agent Thad Foucher.
Wasserman also landed Phoenix Suns rookie forward Josh Jackson an endorsement deal with Under Armour. Additionally, Chinese athletic shoe company Anta announced in June a 10-year deal with Golden State Warriors guard Klay Thompson. Wasserman stated that they negotiated $250 million in shoe endorsements but would not disclose the specific financials.
The NBA division for Wasserman that were apart of these deals include agents Thad Foucher, B.J. Armstrong, Darren Matsubara and Greg Lawrence along with Executive Vice President and Chief Operating Officer Jason Ranne. Wasserman also has NFL, MLB, soccer and golf clients.