NBA’s Amar’e Stoudemire’s Salary to Drop Significantly

NBA’s Amar’e Stoudemire’s Salary to Drop Significantly


Soon-to-be NBA free agent Amar’e Stoudemire negotiated a buyout of his nearly $100 million deal with the New York Knicks over the weekend and on Wednesday is expected to be cleared of all waivers allowing him to take a new minimum-wage deal with the Dallas Mavericks, according to Reuters.

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The 13-year NBA veteran was in the final year of his five-year contract with the New York Knicks, according to ESPN. The Knicks is expected to payout the balance of the final year’s salary at approximately $24 million.

AP reports that 32 year-old Stoudemire has apparently decided to join the Dallas Mavericks, hoping to win a championship for the first time in his career. Concurring, ESPN reports that Stoudemire “has stated a desire to compete for a championship and will get that opportunity with the Mavs, who are fifth in the West with a 36-19 record. That was his reason for requesting a buyout from the Knicks, who have the NBA’s worst record at 10-43.”

The pride and sense of accomplishment that comes with an NBA championship is priceless for some even though the financial deal may be slight. ESPN reports that the Mavericks could offer only the prorated veteran’s minimum, estimated at $477,000. According to Sheridan Hoops, the 2014-2015 veteran’s minimum salary for players with 10-plus years is $1.4 million. The maximum salary for players with 10-plus years is $20.6 million according to Sheridan Hoops.

Stoudemire’s contract negotiations don’t become final until Wednesday at 5 p.m. But he has already issued his goodbyes. “Although I leave the Knicks with a heavy heart, I wish the organization the best of luck. Once a Knick always a Knick,” said Stoudemire in a statement.