He shoots…he scores! Basketball players provide exciting entertainment for millions of fans each year as they demonstrate their skills on the court. From ball handling to slam dunks, it is easy to see how they earn their money on the court.
While watching the big game, you may not realize that most of these players have their hands in other money-making deals. This can be for many reasons, such as building wealth or establishing financial security and long-term income in case of injury.
Many players know they can only earn money on the court for a certain number of years while they are at the top of their game.
Here are some ways basketball players earn income off of the court.
Sponsorships
Endorsements and sponsorships are the most common source of extra income for athletes in any sport. Companies want top players to endorse their products.
These big companies know that having a professional athlete linked to their product can significantly improve the sales process. Athletes may appear in commercials and marketing materials, as well as promote the items on their social media pages.
This is a highly effective marketing tool for companies because fans want to buy the latest gear their favorite superstars are wearing.
Kids will beg their parents for the cereal, shoes, or other items when they see their all-time favorite athlete on the box, drinking the sports drink or wearing the apparel.
Public Speaking
Public speaking gigs are another way an athlete can bring in extra money. Establishing a well-liked talk and improving speech delivery during the career can help build up even more potential after retirement, leading to continued income after stepping off the court.
Stars who have had a hard upbringing, overcome various odds, or struggling with addiction may find ways to help inspire and motivate individuals in the same situations. Speaking gigs can be anywhere, from schools to fairs to conventions and many other locations.
Book Deals
The same thought process occurs for book deals. People want to read about and feel like they truly know their favorite athletes.
A biography book can sell millions of copies when the subject is at their peak performance levels, just after retirement or at the center of a scandal.
A book deal may be a way for an athlete to explain their version of their story or inspire others by highlighting all they have overcome to earn their success.
YouTube
Fans eagerly follow top basketball players on all social media platforms for insight into their daily lives, entertainment and to stay in the know. Players can create a YouTube channel to keep fans in the loop, share highlight footage and entertain.
They then reap the benefits of sharing their motivating, inspiring, funny, or entertaining videos as they reach millions of viewers. Simple videos can get millions of views just because a certain person posted the content, no matter what the video is.
Players with a huge following can really capitalize on their fan base streaming their YouTube videos if they are willing to put in a little extra effort to create an engaging YouTube channel.
Merchandise
Most of these athletes already have their own websites. By creating merchandise with their own logo, picture, or designs they have made, they can sell directly to their fans.
Special or limited-edition products can yield high revenue in a short amount of time because if fans know there is only a limited number of the shirt or other product available, they will rush to make sure they have one.
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Basketball players are smart on the court. They know how to scan for open teammates, execute plays flawlessly and pick up on indicators from their defender, all at a fast speed. Financially smart players know how to earn extra income while they are famous.
There are various ways for these athletes to capitalize on their fame, including endorsements and speaking gigs. The motivation to spend extra time and effort during an already busy basketball season can secure the athlete’s future or help them give back to the community.
