The New York Knicks will receive a substantial payout for winning their first championship in 53 years.
On Saturday night, the Knicks came back from a double-digit deficit to win their first NBA title since 1973.
Not only does that earn them a significant career achievement, it also provides a hefty payday.
According to Sportico’s Kurt Badenhausen, each player on the Knicks will take home roughly $770,000 for the accomplishment.
The team’s total monetary reward for winning the NBA Finals comes out to $9,078,000.
They also receive significant money for finishing with the third-best record in the East as well as winning in the first round, conference semifinals and conference finals.
The players on the New York Knicks are set to earn over $770,000 in playoff bonuses
The team earned over $11.5m for reaching and winning the NBA Finals this season
Inversely, the San Antonio Spurs earned a total of $3.921m for their playoff run
In total, the Knicks as a team will take home over $11.59million for their run through the playoffs. That comes out of a total playoff monetary pool of $35.74million.
It’s a significant amount of money for some of the lesser-paid players in the Knicks’ roster.
Jeremy Sochan has the lowest salary on the team for players not on two-way deals, clocking in at $806,000. Mohamed Diawara makes $1.3million and Jose Alvarado makes $1.7m.
As the runners-up in the Finals, the San Antonio Spurs earned a total of $3.921million thanks to their playoff run.Â
It’s likely that players for both teams will earn other bonuses from performance incentives in their contracts.
