LeBron James Waives 93% of His Salary

LeBron James, the star of the National Basketball Association, has taken the largest salary cut in NBA history after announcing his move to the Philadelphia 76ers on a contract worth $3.88 million for his 24th season in the league. This represents a 93% reduction compared to the $52.63 million he earned with the Los Angeles Lakers last season.

At 41 years old, James’s new salary is lower than the $4 million he received during his rookie season in 2003-2004. He will rank 298th on the list of the league’s highest-paid players for the upcoming season, a vast gap from Stephen Curry, who tops the list with a $62.5 million salary—15 times James’s pay, according to the Spanish newspaper Marca.

James posted impressive statistics last season, averaging more than 33 minutes per game, with averages of 20.9 points, 6.1 rebounds, and 7.2 assists.