Stephen Curry Says NBA Players Are ‘Underpaid’—Here’s His Bold Fix for the League

When news broke this summer that NBA stars Shai Gilgeous-Alexander and Devin Booker were poised to earn upwards of $75 million per year by the ends of their new contracts, jaws dropped across the sports world. Even bench players like Santi Aldama are set to make salaries equivalent to the NFL’s biggest stars—so how could anyone in basketball possibly feel underpaid?

Enter Stephen Curry, the Golden State Warriors’ legendary guard and two-time MVP, who isn’t shy about weighing in on the economics of his sport. What some call eye-popping, Curry calls insufficient—and in a revealing interview, he explained exactly why.

Record-Breaking Salaries—But Still Not Enough?

During a recent conversation on Complex’s “360 with Speedy Morman,” Curry was asked point-blank if NBA players are underpaid. It’s the kind of question that would seem absurd to most fans—after all, Curry himself is set to make nearly $60 million next season—but his answer was thoughtful, nuanced, and surprisingly frank.

“I think, because of the way the CBA is structured right now, we can’t participate in equity. And that’s a big deal because it is a partnership with ownership. It’s a partnership with the league, and we’re on the short term of that revenue,” Curry explained. “Those numbers [in contracts] sound crazy, but what the league is doing, from whatever era you want to compare it to, is probably 10x that. The idea that we can’t participate in equity while we’re playing is part of why I would say yes, we are underpaid—because we want to be able to participate in that rise.”

Curry isn’t just talking about dollar signs—he’s talking about a system that, in his eyes, leaves the players out of the league’s explosive financial growth.

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What Does “Equity” Really Mean?

What Curry is calling for isn’t just more money up front. He argues that NBA players, who drive the league’s booming popularity and profitability, should be allowed to share in the long-term financial upside—not just the short-term paychecks.

Currently, the NBA’s collective bargaining agreement (CBA) prohibits active players from holding an ownership stake in teams. For Curry and other stars, that means missing out as team valuations skyrocket, fueled in large part by their on-court excellence and global celebrity.

Back in 2000, Forbes valued the Golden State Warriors at just $168 million. Fast-forward to 2024—a run fueled by Curry’s dazzling play and the Warriors’ dynasty years—and the franchise’s estimated value has soared to $8.8 billion. Similarly, the Lakers, once valued at $360 million, were just sold for a record-shattering $10 billion to Mark Walter. Even the Knicks and Clippers are worth billions.

In Curry’s view, when the on-court stars help drive those dramatic increases, they should get credit—and compensation—that goes beyond salary caps and today’s “huge” contracts.

“Hopefully, sooner than later, those rules change a little bit so that players can participate more in the upside of team equity, the league, and valuations,” Curry said. “Just because I think we deserve it.”

A League Booming Like Never Before

It’s not hard to see where Curry is coming from when you look at the numbers. The NBA average salary for the 2024–25 season was nearly $12 million, dwarfing the NFL average of roughly $3 million. Even so, those numbers pale next to the incredible rise in franchise value and league-wide revenue.

NBA games are more global than ever. The league has multi-billion dollar TV deals, international exposure, and superstars like Curry himself who have turned teams into worldwide brands. As the NBA has become a global sports and business juggernaut, revenues—and profits—keep smashing records.

But for all the cash flowing in, players get a fixed share based on the CBA’s revenue split. The historic gains from rising franchise values and ownership “equity” are reserved for the billionaires who own the teams, not for the superstars whose names fill seats and drive TV ratings.

Can Change Come?

Curry’s ideas aren’t just pie-in-the-sky dreaming. There have already been behind-the-scenes discussions about how player equity might one day be possible. “Wink-wink” deals like David Robinson buying in as a Spurs minority owner after retirement have shown that it’s at least on the radar, even if it’s not yet a reality for active competitors.

Curry’s call for equity participation is likely to intensify as the NBA moves toward its next round of collective bargaining. The current CBA runs through the 2029–30 season, although either side could opt out as soon as 2028–29. Warriors and stars around the league will be watching to see if more progressive revenue-sharing options—especially those tied to team equity—make it into future negotiations.

Such changes would not only address Curry’s concerns, but potentially redraw the map for pro sports compensation as a whole.

Not Just About the Money

At the heart of Curry’s argument is the belief that players are true partners in the league’s success story—a story he himself helped rewrite. “Those numbers sound crazy,” he admitted of today’s contracts, “but what the league is doing… is probably 10x that.” The gap is widening rapidly as team valuations soar ever higher, and Curry believes it’s past time for players to get their fair share of the upside.

Until then, even with $60 million paychecks and global fame, Curry is adamant: the game’s greatest stars are still underpaid.