Who was the first NBA player to make $1,000,000?

Written by Editorial Team | Last Updated: August 2026

The historic milestone of becoming the first player in National Basketball Association history to sign a contract paying $1,000,000 or more per season was achieved by legendary guard Magic Johnson. In 1981, ahead of the 1981-82 season, Johnson signed a groundbreaking 25-year contract extension with the Los Angeles Lakers worth an unprecedented $25 million total, translating to $1 million annually. At the time, this jaw-dropping agreement shattered traditional salary structures across professional sports and locked the superstar playmaker into a long-term commitment with the franchise that drafted him. While today's superstar athletes routinely eclipse $50 million in annual salary due to massive television revenue increases and exploding salary caps, Magic Johnson's landmark contract was a pioneer moment that permanently altered the economic landscape and earning potential of professional basketball players.

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