00:00Last summer, the NBA and the NBA Players Association signed a new collective bargaining
00:09agreement which, in part, called for a 45% increase in the minimum salaries over the
00:13next three years. This includes the rookie scale. The highest paid rookie will be the
00:17first overall pick, who is able to earn upwards of $27,551,966 over their first contract.
00:25Each pick after that receives roughly 10% less per year than the previous pick.
00:29All first-round picks sign a contract that is guaranteed for the first two years,
00:32with a team option for the third and fourth years. Beyond that, players can sign a qualifying
00:37offer with their current team or move on to greener pastures. Depending on what each player's agent can
00:41negotiate, rookies drafted in the first round can sign anywhere between 80% and 120% of the rookie
00:46scale. Unsurprisingly, high-profile picks often sign for the 120%. Meanwhile, second-round picks are
00:52subject to far fewer rules and have far less guaranteed. Second-round picks can be signed
00:57with their team's leftover salary cap or the mid-level exception. Draftees will also sign
01:02endorsement deals in addition to their contracts, oftentimes before the draft even takes place.
01:06Last year's first overall pick, Ben Simmons, signed a deal with Nike worth
01:09a reported $7.5 million. Kind of makes you wish you practiced a little more as a kid, doesn't it?
01:14Coinage. Life. Well spent. Presented by GEICO.
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