Stephen Curry and Kevin Durant will become the second and third NBA players to surpass $1 billion in career earnings during the 2025-26 season, according to salary data compiled by Sportico. LeBron James crossed the threshold in 2021-22. The milestone reflects structural changes in team payroll math and endorsement infrastructure that alter how franchises value aging stars.
Curry's Warriors contract pays him $55.8 million this season, part of a four-year extension signed in 2021. Durant's Suns deal runs through 2025-26 at $51.2 million annually. Combined on-court earnings for both exceed $530 million; the remainder comes from endorsement portfolios anchored by Under Armour and Nike, respectively. Curry's Under Armour relationship, signed in 2013, pays an estimated $20 million per year with equity stakes undisclosed. Durant's Nike lifetime deal, structured in 2017, carries similar annual floors with performance kickers tied to playoff revenue.
The arrival of a third billionaire player matters less for the players than for the teams carrying their contracts. Golden State's luxury tax bill for 2024-25 reached $176 million, the highest in league history. Phoenix operates $45 million into the tax after acquiring Bradley Beal's $50.2 million salary last summer. The new CBA's second apron — a hard threshold at $17.5 million above the tax line — restricts both franchises from signing midlevel free agents or aggregating salaries in trades. Warriors owner Joe Lacob has publicly committed to keeping Curry through retirement; the operational cost is a frozen roster and repeater penalties that compound annually.
What sponsors and allocators need to understand: the billion-dollar player is now the expected outcome for max-contract stars, not the exception. Luka Dončić, signed through 2026-27 at $48 million per season, will reach the threshold by age 32 if he signs a projected five-year supermax starting at $68 million in 2027. Giannis Antetokounmpo's current trajectory puts him there by 2029. The salary cap has grown 41% since 2020, driven by the league's $76 billion media rights deal that begins in 2025-26. ESPN and Amazon pay $6.9 billion annually under the new structure, triple the expiring Turner-ESPN package.
Endorsement portfolios have bifurcated. Curry and Durant anchor their own signature shoe lines with royalty participation; their younger peers increasingly sign equity-laden deals with emerging brands. Anthony Edwards' Adidas contract, signed in 2023, includes revenue share on his signature model. Tyrese Haliburton took equity in New Balance rather than a flat Nike offer. The shift mirrors broader athlete monetization: ownership stakes in exchange for lower guarantees, betting that brand growth outpaces fixed payments. For sponsors, the calculus is clear — a signature athlete with 8% equity in a growing line costs less upfront than a $25 million annual guarantee.
Family offices sizing NBA stakes should note the Kraken precedent surfacing this week. Seattle's NHL franchise, purchased for $650 million in 2018, is now marketed at $2 billion ahead of a potential NBA expansion bid. The Kraken's ownership group, led by Jerry Bruckheimer and bondholders from Northland Properties, is expected to submit a $4 billion NBA application when Commissioner Adam Silver opens the process in 2026. The valuation reflects Seattle's media market rank (14th nationally) and the success of the NBA's last expansion round — Charlotte and Toronto, added in 1988 and 1995, are now worth $3 billion and $4.1 billion, respectively.
Luxury tax math compounds differently under the second apron. A team $40 million into the tax pays $3.50 per dollar in year one, $4.25 in year two as a repeater. Golden State's four consecutive years above the line mean every dollar of Curry's $55.8 million salary effectively costs ownership $237 million when tax and repeater penalties are included. Phoenix faces the same spiral starting in 2025-26. The alternative — trading a max player to reset the tax clock — destroys ticket and sponsorship revenue. Warriors season-ticket renewals run at 94%, driven entirely by Curry's presence. Phoenix's suite sales jumped 22% after acquiring Durant in February 2023.
What to watch: Warriors GM Mike Dunleavy has until June 2025 to decide whether to extend Draymond Green's contract, which expires in 2027. A new deal would push Golden State into the second apron through 2029. Phoenix's front office faces a similar decision on Devin Booker's supermax extension, eligible in summer 2026. Both moves determine whether ownership groups can sustain $200 million annual tax bills or begin roster teardowns. Meanwhile, the league's new media revenue begins flowing in October 2025, raising the salary cap to a projected $141 million — and lifting max salaries to $57 million for ten-year veterans.
The billion-dollar threshold used to signal career immortality. Now it signals the exact payroll math that forces franchise operators to choose between winning and solvency. Seattle's $4 billion NBA bid suggests some buyers still believe the choice is false.
The takeaway
Curry and Durant's billion-dollar careers now define the baseline for max-contract stars, forcing team operators into luxury tax spirals that cost **$4.25** per salary dollar by year four.
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