Magic Johnson’s rise in the NBA is nothing short of legendary. Entering the league in 1979, he made an immediate impact, clinching the Championship and Finals MVP in his rookie year. Recognizing his immense talent, the Los Angeles Lakers offered him a groundbreaking 25-year, $25 million contract, which sparked controversy and jealousy among many veteran players, including some of Johnson’s own Lakers teammates.
How Magic Johnson’s $25 Million Contract Shook the NBA to Its Core
Appearing on “Jimmy Kimmel Live,” Johnson shed light on the controversy surrounding his monumental contract. The Hall of Famer delved into the psyche of NBA players to explain the envy and resentment it sparked.
“My Lakers teammates were not happy because it was more money than anybody had ever received,” Johnson revealed. “Players focus on the short-term. What Larry [Bird] and I did for the NBA, today’s guys are capitalizing on. They’re making $50 million a year now.”
Johnson’s comments highlight the stark contrast between the NBA of his era and today’s high-stakes league. Back then, the Finals weren’t even broadcast live. Johnson vividly recalled that after securing the Lakers’ victory in Game 6 of the 1980 NBA Finals, he returned to his hotel room to watch its first delayed broadcast.
This revelation underscores the transformative journey of the NBA. According to Nielsen Media Research, the 1981 NBA Finals were the lowest-rated series until 2003. Yet, the fierce rivalry between Johnson and Bird, followed by Michael Jordan’s dominance in the 90s, catapulted the NBA into a global spectacle.
Lakers owner Jerry Buss’ decision to lock in Johnson with such an extravagant contract was a stroke of genius. Buss foresaw Johnson making the Lakers a prime-time sensation, and he was right. The ‘Showtime Lakers’ era became a must-watch phenomenon.
Interestingly, while most players initially balked at Johnson’s contract, a few, like Charles Barkley and his Philadelphia 76ers teammates, saw its potential. On the “Club Shay Shay” podcast, Barkley reminisced about the euphoric reaction in the 76ers locker room when they heard about Johnson’s deal.
“Me, Doc [Julius Erving], Moses [Malone], Bobby Jones, Andrew Toney—we couldn’t believe an NBA player was making a million dollars. We were high-fiving each other. It was unreal,” Barkley shared.
At that time, only five other NBA players earned seven-figure salaries, all of them seasoned veterans. Johnson’s contract reset the market, empowering players to demand more lucrative deals. Barkley and his teammates recognized this shift, celebrating the newfound leverage Johnson’s deal provided.
In hindsight, Johnson’s lucrative contract was a harbinger of the financial boom that awaited future NBA stars. While it initially sparked jealousy, it ultimately paved the way for the astronomical salaries players enjoy today.
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