NBA G League 2 way contract salary will be $560,000 for the 2023-24 season. Two way contracts pay half of what a rookie would typically earn.
As the 2022-23 NBA campaign came to an end with the Denver Nuggets securing their first championship ring, talks have already begun about the new season, which will start its gear in October 2023.
In the 2022-23 season, the minimum salary for rookie players was $1,017,781 per year. If a player signed a two-way contract, they would earn exactly half of that amount, which is $508,891 per annum.
Several young players who were not selected in the 2022 draft signed the provisional contract for the 2022-23 season. Some of them are Donovan Williams, Jordan Goodwin, Scotty Pippen Jr, Ty Jerome, Malcolm Hill, Bryce McGowens, and others.
What Does A Two Way Contract In NBA Mean?
A two way contract in NBA is a type of agreement that allows a team to have a player on its roster who can play for both its NBA team and its G League affiliate.
For example, if a player agrees to a two-way contract with the Lakers, they can also play for its affiliate team South Bay Lakers, the Lakers’ G-League franchise.
The NBA came up with the “two-way contract” in 2017 to help players who were not chosen in the draft and did not make it onto a team.
Clubs can retain these players without committing to a full-time contract, allowing them to be kept “on hold” until they have a chance to demonstrate their abilities. The approach provides an opportunity for evaluation without a permanent commitment.
NBA franchises can provide two-way contracts per season to two players who have less than four years of experience in the league. However, players under these contracts are not eligible to join the playoffs and are limited to playing for a maximum of 50 games for the team.
In the shortened 2020-21 season due to the COVID pandemic, players on two-way contracts were given the chance to join the NBA playoffs. But it was only for that season.
Leaky Black Two Way Contract
Leaky Black entered into a two-way deal with Charlotte Hornets in June 2023. Hence, Leaky is also available for the Greensboro Swarm roster, the G League team for Charlotte.
The 24-year-old rookie played college basketball at the North Carolina Tar Heels for five seasons from 2018. Leaky, the 6-foot-9 small forward, entered the 2023 NBA draft but went undrafted.
However, the Charlotte Hornets wasted no time in offering him a two-way contract, which he quickly agreed to sign. Black will now play for the Greensboro Swarm in G League for the 2023-24 season and will also make the Hornets NBA roster when needed.
Likewise, Atlanta Hawks inked a deal to sign 6 feet 10 inches tall forward Miles Norris of UC Santa Barbara on nba 2 way contract.
NBA Exhibit 10 Contract Explained
Exhibit 10 contract is a one-year agreement in the NBA where a player earns the minimum salary.
If the team decides to make a switch to a two-way contract before the regular season begins, they have the option to do so. It is one of the ten exhibit contracts in the NBA that allows a franchise to convert a player to a two-way contract.
The Exhibit 10 contract is designed to provide opportunities for players who may not be signed to a standard NBA contract or a two-way contract. It allows them to join an NBA team’s training camp and potentially earn a spot on the team’s G League affiliate.
When a player is signed to an Exhibit 10 deal, they receive an invitation to participate in the team’s training camp. This serves as a chance for them to display their abilities and potentially secure a place on the team’s lineup.
Typically, Exhibit 10 agreements do not guarantee any salary to the player unless they secure a spot on the team’s regular-season log.
However, the contract may include an exhibit dividend, which is a financial incentive provided to the player if they are waived by the NBA team but signs with the team’s G League affiliate and remain with them for 60 days.
If the player remains with the team’s G League affiliate, they may be eligible for a bonus of up to $50,000. This bonus is typically arranged in a manner that does not impact the team’s salary cap.
Additionally in certain situations, when a player performs exceptionally well during training camp and preseason, they might receive a different kind of contract called a two-way contract instead of an Exhibit 10 contract.
NBA Players who signed Exhibit-10 Contract 2023-24
- Caleb McConnell – Thunder
- Xavier Castaneda – Clippers
- Armaan Franklin – Nuggets
- Angelo Allegri – Hornets
- Alex Fudge – Lakers
NBA Two Way Contract Minimum
The minimum NBA 2 way contract salary for the 2022-23 season is $508,891. This is half of the rookie minimum salary for a player with zero years of experience, which is $1,017,781.
For the upcoming 2023-24 campaign, two way contract NBA guarantees a minimum of $560,000 per year, which is 50% of the lowest rookie player wage next season, according to Yahoo Sports.
The pay is divided into two settlements. The first payment, which is is made at the beginning of the season while the second one is made halfway through the season.
Players have the option to sign a two-way contract for a maximum of two years. In this type of agreement, they are guaranteed a certain amount of money per season, which can go up to $75,000, previously $50,000 as per the 2017 accord.
However, with the new rules, if the player secures a spot on the regular-season roster or is signed during the season, they can receive up to half of their base compensation as a guarantee.
Two-way contracts allow teams to sign up to two players who can split their time between the NBA and the G League. Players on two-way contracts are limited to 50 games with their NBA team during the regular season. They are also not eligible to play in the playoffs.
This provision applies to undrafted rookie players who agree to its terms. It is like a second chance for these players to showcase their worth to the world and make a name for themselves.
In contrast, players who were selected in the draft receive substantial contracts with higher pay. Victor Wembanyama is expected to sign a rookie contract in the NBA that will make history as the highest ever.
Over the course of four years, Wembanyama stands to earn approximately $55.2 million. In his first year as a rookie, his salary will be around $12.2 million. While his salary will gradually increase, it’s important to note that only the first two years of the contract are fully guaranteed.
G League Players Average Salary
The average salary for G League players is set at $40,500 per year or roughly $8,000 per month.
In November 2022, the wages for G League players were revised, setting the new minimum average at $40.5K, which is an increase from the previous rate of $37,000.
The average salary was increased to $37,000 for the 2021/22 season, which marks a growth of over 15% in the last two seasons. This is the first time the salary has exceeded $40,000.
In contrast to the NBA, the G League compensates all players with a uniform base salary, eliminating the disparity between minimum and maximum payments.
However, there are ways G League players can earn more than the predetermined average salary by signing different types of contracts, which can result in a significantly higher income.
- Assignment player – No set minimum pay
- Draft rights player – $40,500
- Exhibit 10 player – Upto $90,000
- Select-player – At least $125,000
- Two-way player – $508,891
It has been reported that London Johnson has signed the largest G League contract to date with the G League Ignite. Although the specifics of his salary have not been disclosed, sources have confirmed that it is a seven-figure deal with an excess of $1.1 million per season.
Besides, players who signed NBA Exhibit 10 contracts with teams may receive up to $50K in bonuses, depending on their contract terms.
This move is aimed at encouraging their transition to the team’s G League affiliate and increasing their earnings, which could potentially surpass $90K for the 2022-23 season.
Additionally, players who have signed two-way contracts will receive a fixed salary of $508,891 regardless of whether they spend most of their time in the G League.
Conversely, players who are part of NBA rosters and are assigned to the G League will receive their full NBA salaries instead of the NBAGL rate.