OPINION

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By Ashwin Aggarwal

In 2020, the Kansas City Chiefs gave their quarterback, Patrick Mahomes, a record-setting contract extension of 450 million dollars over 10 years. This doesn’t even account for the money he makes from his endorsement contracts with companies such as Oakley, Head & Shoulders, and State Farm Insurance. Solely from his NFL contract, Mahomes makes over 700 times more annually than the average firefighter in the United States.

Patrick Mahomes. Photo credit: Rob Masefield via Flickr.

At first glance, this seems unfair. Why should someone who simply throws a ball earn 700 times as much as somebody who rescues citizens from burning buildings? 

“Are professional athletes overpaid?” has been a prominent question in the sports discourse lately, as athletes like LeBron James and Micheal Jordan have reached billionaire status. Those who say that athletes are overpaid advocate that people who regularly save lives and help society (such as doctors, lawyers, teachers, lawyers, and active military service members) should be the ones who get paid the big bucks, and that it is unfair that athletes get paid so much more than these life-saving professions.

However, athletes did not always earn millions of dollars per year. In the 1960s, NBA athletes often had to pick up second jobs during the offseason due to their meager salaries. The average salary of an NBA player in the 1960s (accounting for inflation) was only 150,000 dollars per year.

You still might be wondering: Isn’t that still more money than a firefighter earns?

Well, yes, it still is more money, but there are many reasons why athletes are paid so much. The average length of an NBA career is 4.5 years. After their careers, NBA players often have a difficult time financially. In fact, 60% of NBA players go broke within five years of retiring, and 78% of professional athletes are in financial distress within just two years of retirement. A doctor, on the other hand, can earn high wages for an average of 31 years until they retire. Professional athletes acquire the majority of the money that they have for the rest of their lives during the relatively short time they are active players. 

Additionally, these athletes dedicate themselves to their crafts, spending hours training, watching their nutrition, and putting their bodies on the line to compete. They risk their future and their health for their teams and for their fans. 60% of NFL retirees are reported to have abnormal brain structures due to repeated brain injuries. Athletes are compensated for risking their health for a game, and rightfully so.  

Think about where the money these athletes receive comes from. The NFL, NBA, MLB, and NHL all make billions of dollars per year. Without athletes, these companies would cease to exist. The high earnings of these leagues are reflected in players’ salaries. Furthermore, avid fans everywhere are willing to contribute to these companies’ pools of profits by buying tickets, merchandise, and food and drinks at games. These companies also attain deals from TV channels that pay to air their games and matches. For example, in 2021, the NFL signed a 110 billion dollar media rights agreement with CBS, NBC, FOX, ESPN, and Amazon. This is due to the NFL adding a 17th regular season game to the schedule. This change was highly opposed by players, due to the increased risk of injury. However, the NFL compensated the players by increasing the percentage of league revenue that goes toward player salaries from 47% to 48.5%. 

Instead of the revenue these leagues make going to team owners and executives, it is fairer that the money goes to the players, who dedicate their lives to the game, and who are competing at the highest level. If the money did not go to the players, team owners would just pocket the additional profit. Players use this money to treat their bodies from the wear and tear of playing professional sports year after year. Players invest time and effort to ensure that their bodies are in the right shape to be able to satisfy their fans and play at a high level.

LeBron James when he played for the Cleveland Cavaliers. Photo credit: Keith Allison via Wikimedia Commons.

LeBron James is known to spend 1.5 million dollars every year maintaining his physique, which has allowed him to play professionally 20 seasons. James’s business partner, Maverick Carter, stated on a podcast, “Everything [LeBron James] does in his life is constructed to have him play basketball and to stay on the court and to be as healthy as possible and to absorb punishment when he goes to the basket.” 

Sports leagues are for entertainment. Athletes are getting paid to entertain, and their salaries reflect just how entertaining they are. Whether it’s a spectacular throw, a stunning dunk, or a grand slam, these moments are what fans pay for and love to see. 

Featured image credit: 401(K) 2013 via Forbes.