Jayson Tatum Signs Richest Contract In NBA History: Agrees On 5-Year, $315 Million Extension With Celtics

Jayson Tatum has secured the richest contract in NBA history after signing a five-year, $315 million contract extension with the Boston Celtics. Chris Haynes broke the news, as Tatum overtakes teammate Jaylen Brown as the one to possess the largest contract in NBA history.

"BREAKING: Boston Celtics and star Jayson Tatum have reached an agreement on a five-year, $315M supermax extension with a player option that is the largest contract in NBA history, league sources tell NBA on TNT and Bleacher Report."

Tatum deserves every last dollar that's been earmarked for him until the 2029-30 season. He will average $63 million annually over the length of the contract, turning 32 years old upon its expiry. 

He averaged 26.9 points, 8.1 rebounds, and 4.9 assists last season, playing a crucial role in the Celtics' lifting the 18th championship in franchise history.

Tatum and Jaylen Brown are arguably the most expensive duo in NBA history, with both players on full supermax contracts. But when the result is winning a championship in dominant fashion, it's hard to say either one doesn't deserve the money. 

Celtics Looking For New Ownership

Shortly before the news of Tatum's supermax extension was made public, Adrian Wojnarowski revealed that Celtics' owner Wyc Grousbeck had made the team available for sale.

"The Boston Celtics majority ownership group — led by Wyc Grousbeck — is planning to make the franchise available for sale, sources tell ESPN. The investment group purchased the team in 2002. Massive development for one of sports’ most valuable properties."

The current ownership group isn't deep-pocketed enough to pay the nearly $950 million in salary the Celtics' starting five are owed on their existing contracts. It's the most expensive starting five in NBA history during an era where the league is trying to curb the creation of expensive teams like this.

The luxury tax penalty on the Celtics' will rapidly increase every season this core is together, and ownership who can handle that cost will be required in Boston. However, this will be a long process, as Grousbeck isn't expected to relinquish control of the team until 2028.

"Celtics say they'll "sell a majority interest in early 2024 or early 2025, with the balance closing in 2028 and Wyc Grousbeck to remain as governor of the team until the second closing in 2028."

With the core locked up on long-term contracts, the Celtics will worry about the money later. They have a golden opportunity to become a modern-day dynasty, but their rivals are adding more and more talent to be competitive next season.