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Why Didn’t Carmelo Anthony Sign A Two-Year Deal This Summer & Wait Until 2016 To Sign a Longer Contract?

Submitted by on October 7, 2014 – 1:32 pmNo Comment
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Carmelo Anthony received a gigantic contract from the New York Knicks this summer. Although he accepted an offer that was slightly less than the max contract that he could have demanded, his five-year deal is still worth $124 million, which means that he will never have to worry about money for as long as he lives. Carmelo and his family will be financially secure for his entire life—and there’s a good chance that the next few generations of Anthonys will also be financially secure for their lives as well because of the deal that he just received. But if you can believe it, Carmelo may have actually signed a really bad contract this summer in light of a deal that the NBA just signed with Disney and Turner.

Those two companies just agreed to a massive $24 billion deal with the NBA that will allow them to televise the league’s games for the foreseeable future. And because of that deal, there’s a very good chance that the NBA’s team salary caps are going to increase substantially in 2016. So players will be able to make more money—a lot more money—in 2016. It’s why LeBron James only agreed to a two-year deal this summer and why Carmelo should have done the same. He likely would have stood to make more if he’d just signed for two years and then worked out a new deal in 2016.

So why didn’t Carmelo do it? He claims that it’s because he didn’t want to go through the free agency process again after all the hoopla that he dealt with this summer. But doesn’t it feel like it would be well worth it for him to go through it if there was an even bigger contract waiting for him at the end of it? We think so. And while we aren’t going to shed any tears over Carmelo getting a $124 million deal instead of, say, a $150 million deal (he’ll be just fine, guys!), we don’t get why he didn’t just hold off on signing a bigger deal for two more years. It would have made dollars and sense.

Do you think Carmelo made a mistake by signing a five-year contract this summer instead of a two-year deal? Let us know.

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