Chris Paul has the numbers and the accolades — including being named the NBA’s Player of the Year in 2013 and the All-Star Game MVP in 2014 — to prove he’s a winner. But the Pelicans point guard also has been an innovator and trendsetter, and he’s done all of that while playing for the minimum salary.
According to the NBA’s collective bargaining agreement, all of the league’s head coaches and general managers are now officially on the business end of a ton of money. This year, the salary cap is $100 million, and teams can spend up to $129 million on players. But there’s a weird thing about this year’s cap. The maximum amounts that teams can pay to players in each pay tier has been reduced from the previous year. There are seven such pay grades, and the minimum amount the team can pay in each of these is $3.6 million. The maximum amount teams can pay to any player is $5.3 million. It’s all a bit confusing, but if you’
Although it worries some fans, professional sports has become a big money business. As he struggles to make it through the postseason – the 2021 playoffs could be a permanent game changer – Chris Paul is reaping the financial rewards of that reality. During his time on the floor, the defender converted his talents into a net profit of $130 million. His merit, however, began on a much smaller scale.Long before he got to the NBA, Paul worked at his grandfather’s gas station. That’s where he and his brother spent their summers, making money.
Chris Paul turned his NBA career into $130 million in assets
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Although he doesn’t get as much attention as Steph Curry, Paul has been one of the best defenders in basketball for over a decade. As you can imagine, CP3 has amassed a lot of capital through this constant improvement.
After making a name for himself at Wake Forest, Paul became eligible for the NBA Draft in 2005 as the fourth pick of the Charlotte Hornets. This status earned him a four-year contract worth nearly $15 million. While this was already a significant amount, the return has only increased since then.
As his resume grew – Paul became one of the best playmakers in the league, scoring, assisting and defending with equal ease – CP3 got bigger and bigger contracts. Before the start of the 2008-09 season, he signed a $63 million contract with the Hornets. After being traded to the Los Angeles Clippers, the defenseman received a new $107 million extension.
Despite moving from Hollywood to Houston, then Oklahoma City and Phoenix, Paul is still making a lot of money. The defensive end was paid over $40 million in the 2020-21 season, and depending on what he does next offseason, another big salary awaits him. All of these payouts, combined with great promotions, have helped CP3 amass $130 million in net assets.
Guard started his career as a sideline worker at his grandfather’s gas station
Phoenix Suns point guard Chris Paul during the 2021 NBA playoffs. | Keith Birmingham/MediaNews Group/Pasadena Star-News via Getty Images)
These days, Paul makes thousands of dollars every time he steps on the basketball court. But in his youth he was happy with a few pennies extra.
As he explained in an interview with The Players’ Tribune, the future point guard spent his summers working with his brother at their grandfather’s gas station. There, every car that stopped to get gas was an opportunity.
Every time someone drove up, we got up from our seats. If they went to the pump with full service, we had peace. But when they passed the self-service machine, we left as fast as we could. Because we had about four seconds before they could open the door and leave. If we get ahead of them, who’s going to tell an adorable eight-year-old not to fill up?
Paul and his brother’s strategy was well thought out. If they do it right, they can make a few cents more per customer.
We’ve done well with our little thing. That was when the money was only distributed in cash. So we were dealing with round numbers. Everyone was talking: Put $30 in it, boy.
We were going to start pumping… $29.10 …
…
$29.21
…
$29.30
It’s perfect. Click here.
All filled up, ma’am.
Nobodywith a shred of decency tries to run an eight-year-old back into the house to get 70 cents out of the cash register. That’s the way it’s always been: Keep the change, young man.
So we saved up to buy sneakers and whatever else we wanted.
Chris Paul writes in The Players’ Tribune
Although it would have taken several cars to make enough money to buy a new pair of sneakers, it’s safe to say that it ended well for CP3.
Chris Paul, meanwhile, used his NBA fortune to honor his late grandfather
Before Paul went to the NBA and started making millions of dollars, his grandfather was murdered. But as soon as he came out, the guard decided to honor the late patriarch of his family.
I’m still Mr. Jones’ grandson, Paul explained. His presence is part of everything we do as a family. When I came to the NBA, I created my foundation in his honor, and my goal was very simple. I just wanted to do what he did for me, for as many kids as possible – I wanted them to feel that no matter where they come from, they have a chance to do great things in this life.
He told of his grandfather’s reaction when he and his brother asked him for money to buy new athletic shoes: You can have it. You just have to work for it. -Husband sends two students to Wake Forest every year on scholarship. This gift is named after Nathaniel Jones.
My grandfather, Paul, concluded. My best friend. The first African-American to own a gas station in the state. The only guy who can give you life-changing advice with a burning Winston in his mouth.
Contract data courtesy of Spotrac
COMPARED TO: Chris Paul makes historic NBA Finals debut as Michael Jordan
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