Anthony Edwards, Tyrese Haliburton Gain $40M From All-NBA

Minnesota Timberwolves guard Anthony Edwards and Indiana Pacers guard Tyrese Haliburton have each led their respective teams to the NBA conference finals this season. They were already having a pretty good month of May, and it just got even better.

Edwards was selected to the 2024 All-NBA second team and Haliburton was selected to the 2024 All-NBA third team. Along with the honor, they each got a $40 million raise.

Both players signed rookie contract extensions last summer that were due to be worth at least 25% of the salary cap (five years, $204 million), with the potential to increase to 30% of the cap (five years, $245 million) if they made an All-NBA team this year.

To be eligible, both players needed to play at least 65 games, per the rule in the 2023 collective bargaining agreement (CBA) between the National Basketball Players Association (NBPA) and the league. That was no problem for Edwards, who played in 79 games. Haliburton, however, missed 10 contests in January due to a hamstring injury and had to return quickly and avoid resting games thereafter to hit the threshold.

The players have the 2011 CBA, and specifically the “Derrick Rose Rule” (officially named the “5th year, 30% max criteria”), to thank for their earnings bumps. The clause allows a player to re-sign with his current team to earn a salary greater than the typical maximum starting in his fifth season if at least one among a list of criteria is met. One of those criteria is being named to an All-NBA team in the most recent season.

Edwards’ case was airtight. He averaged 25.9 points, 5.1 assists and 5.4 rebounds per game to go along with above-average defense for the team with the fourth-best record in the NBA.

Haliburton was a closer call. He scored 20.1 points per game and his 10.9 assists per game led the league, but both of those marks, as well as his shooting percentages, dropped after his injury. His complete body of work, though, got him across the finish line.

Other players secured the bag as well. There was no doubt that Luka Doncic was going to get a first team All-NBA nod, but in doing so he became eligible to sign a “supermax” contract worth 35% of the cap in the 2025 offseason that would kick in starting with the 2026-27 season. The theoretical five-year deal could be worth more than $80 million in its final season.

On the flip side, several players missed out on big money. Miami Heat center Bam Adebayo, for instance, needed a selection to be able to sign a lucrative supermax extension, but he missed the cut. Philadelphia 76ers guard Tyrese Maxey will have his next deal limited to 25% of the cap as opposed to 30%.

In all, the Western Conference had more All-NBA players than Eastern Conference for the 26th straight season.

A system in which the values of contracts lasting four or five years vary so greatly based on just one year of performance is questionable. Even more dubious is the fact that those eight-figure dollar swings are determined by a vote of third-party media members. ESPN senior writer Zach Lowe said that he surrendered his ballot this season because his influence on player contracts felt “icky.”

Determining the salaries of players is a responsibility that many voters wish they didn’t have. “There’s some Haliburton guilt there where I think if it’s close and a contract extension is on the line, I’d be more likely to vote for that player,” awards voter Ryen Russillo said on The Bill Simmons Podcast in April. “I’m just trying to be transparent.”

Nobody seems pleased with the flawed status quo, but ultimately the players agreed to it. For Edwards and Haliburton, it worked out. Whoever is up for a raise next year might not be so lucky.