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Friday, September 27th, 2013 at 9:00 am  |  68 responses

DeMarcus Cousins to Sign 4-Year $62 Million Deal With Kings


by Marcel Mutoni @ marcel_mutoni

As expected, Sacramento has locked up their franchise big man. DeMarcus Cousins has agreed to a four-year contract, worth about $62 million.

The extension kicks in during the 2014-’15 season, but it isn’t the max deal Cousins and his reps had been looking for — the 23-year old center was eligible for a five-year, $80 million contract.

Per the Sac Bee:

The deadline for first-round draft picks from 2010 to agree to contract extensions is Oct. 31. If the Kings had not reached an agreement, they could not have signed Cousins until after this season. Cousins was the fifth overall pick in 2010 after one season at Kentucky. He led the Kings in scoring and rebounding last season but also had run-ins with coaches, teammates and even television commentators that led to questions about his maturity and worthiness of a max deal.

But new Kings ownership made it clear Cousins was the cornerstone of the franchise. After closing the deal to purchase the Kings, principal owner Vivek Ranadive’s first call was to Cousins, and he said building around him would be a priority. General Manager Pete D’Alessandro has asked for Cousins’ input on personnel, and Cousins has been in Sacramento working with the new coaching staff and teammates in preparation for next month’s training camp. Cousins averaged 17.1 points and 9.9 rebounds last season, slightly down from the 18.1 points and 11 rebounds in his second season.

There has never been any question regarding DeMarcus Cousins’ abilities on the court, making this payday an inevitability. He must now prove that he’s mature enough to handle the increased expectations that come with big money.

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  • danpowers

    why do i have this funny feeling that cousins will be one of those guys to end up broke after his nba career?

  • Shifty

    Mike tyson of the NBA? Without the ear biting.

  • Dfrance

    His career is far from over, I wouldn’t put an ear bite past him.

  • http://slamonline.com/ Ben Osborne

    Welcome back, Marcel!

  • swill

    thought for a full three seconds that was a cigarette in his mouth in the picture.

  • RKJ92

    I read its closer to 64 million…

  • danpowers

    i cant see any similiarity between them. but there are a handfull of nba players who earned millions of dollars and end up broke after their careers.

  • http://twitter.com/sooperfadeaway nbk

    60% of ex NBA players are broke within 5 years of retirement.

  • danpowers

    didnt know that the number of guys is that high, dang. i just wonder how even a quiet guy like vin baker – who earned an estimated 97 million dollars during his nba career – managed to end up broke. guys like spree dont really suprise me tho lol

  • Smits#45

    Now they’ve got Cousins for the next four years and they have Shaq as a part owner. I really think Cousins could learn a lot from Shaq if he and Shaq are willing to.

  • http://twitter.com/sooperfadeaway nbk

    Vin Baker is/was an alcoholic. He has a ton of personal problems, and most of these guys don’t realize that investing in a business does not = a return on your investment. That’s where most of them go broke. They will put all their money into a restaurant or real estate ventures, lose their ass, try and pay their way out of it, loss more of their ass, and have to file for bankruptcy.
    .
    Still, the most ridiculous example of a player going broke is Allen Iverson, who spent an estimated $360,000 a MONTH after he retired.

  • Dfrance

    Its just bad money management on a grander scale. I’m a poor money manager. I’ll get $500, have all these grandiose plans of what to do with it, then go out to eat 3 times, buy a pair of sneakers and its gone.

    NBA players be like that except they’re not eating at Outback and their shoes costs a thousand dollars. lol

  • danpowers

    i used to be the same. didnt make a difference if i had 5000 or 50 euros to spend: it was always gone in the same time lol

  • danpowers

    i knew that vin baker had an alcohol problem but i didnt know it was that severe and still haunting him. damn shame he always appeared to be a decent person.

    to put money into a business that one is convinced of can happen to any reasonable person. even though one could think that a rich person should be able to afford a good finance manager.

    to waste money on luxury stuff like money grew on trees is more what i cant understand. i can imagine that a guy like jr smith will be able to manage to get rid of his last cent even without investing into a larger business. except making it rain in night clubs counts as a business investment.

    lol at iverson. thats just so beyond my understanding

  • IggI

    Puff…Puff..Pass….Cousins

  • http://twitter.com/sooperfadeaway nbk

    Well idk if that stuff is still haunting Baker, but he was having personal troubles last time I heard about him. I don’t really like to speculate on who is going to be broke or why, I just think it’s sad. these guys have millions of dollars and can’t spend $50k a year or so on a financial advisor….just seems like most of them are unprepared for wealth and financial independence

  • danpowers

    definitely something they should address in that rookie preparation programme lol.

    i can understand that a guy spends big if he comes out of poor circumstances and enjoys the luxury which comes with playing in the nba. but common sense should teach anyone before a career is over that this just cant go right in the long run. in this case ignorance doesnt seem to be bliss.

  • straight cake

    Yup just like how Antoine Walker who made $110 Million pretty much blow it away.

    http://www.youtube.com/watch?v=APaLlppTT04

  • straight cake
  • spit hot fiyah

    wring king, that would be Divac

  • spit hot fiyah

    once they let evans go this was going to happen. nice deal for sacramento.

  • http://twitter.com/niQknacks niQ

    I thought Iverson had a financial advisor set up an account for him where after he reaches a certain age (let’s say 50), that he gets approx $1 million a year?

  • http://twitter.com/sooperfadeaway nbk

    He gets like $30 million when he turns 50. But he obviously didn’t keep that guy employed past his first few seasons….

  • retrobat

    THIS! Personally I think most people are unprepared for any kind of wealth and financial independence. It really should be something taught in schools. Learning finances ought to be a priority and requirement as opposed to some of the other courses that kids have to learn. IDK if there are any high schools doing this now, but it would have been wonderful if mine had one while I was in HS.

  • http://twitter.com/niQknacks niQ

    Well I sure hope he still isn’t spending that much monthly. redonc.

  • KSupreme

    Nothing to take away from his game…and really good centers are hard to come by…but how can you sign a guy who has been such a head ache for this franchise since the start of his NBA career…smh

  • http://www.slamonline.com/ Nick Tha Quick

    There is a really good ESPN 30 for 30 on the epidemic of athletes going broke within 5 years of retirement. You guys should really check it out. It looks at players from all the major sports. Obviously money management skills are seriously lacking in the demographic that becomes millionaire athletes. A lot of them have never paid a single bill in their lives before getting that first NBA/NFL/MLB check.
    Many end up supporting their large families, paying all their rents/mortgages, utilities etc in addition to their huge entourages. They find it hard to say no to every sob story of every relative and old friend coming out of the woodwork
    You also have the agents who double up as their financial advisers and rob them blind, fail to submit their taxes, etc. Finding agents and financial advisers who you can trust and who are looking out for you is a lot harder than you think.
    There are lots of women which subsequently leads to lots of child support issues, baby momma drama most of which requires costly legal aid to resolve and manage.
    The peer pressure to purchase property esp amongst fellow players in your league and even across leagues is enormous. It is almost impossible to have 2-3 cars that your family needs when all your teammates have up to 10 cars and show off their mansion on MTV cribs. Human nature to want to keep up with the Joneses.
    Very few athletes have a career plan after retirement or even have any marketable skill outside of their athletic prowess. Without solid investments while they were still active, they cannot generate any new income while significantly reducing their expenditure.
    There is very little education on responsible lifestyles, finances, post-retirement careers etc provided at the college level and even laughably at the NBA Rookie Transtion Program. You would think that Kentucky, Duke, UNC and all the major schools feeding athletes to the NBA would care enough to teach them about these things early on.
    The counterpoint to all this is: if all these athletes did not blow through their millions and made very prudent and frugal decisions, wouldn’t the economy suffer and so many people who directly or indirectly benefit from this stream of cash be out of work? Is this a nation built on spending?

  • davidR

    great food for thought. personally, i think all the people that leach off athletes would find something else to leach.

    and yes, i do agree that most of these athletes come from nothing, and aren’t prepared to face all the things that come with being young rich and famous. it sucks. they’re almost setup for failure, but don’t see it

  • AiRsMiTh

    I hope that that is nowhere near an accurate figure.

  • http://twitter.com/sooperfadeaway nbk
  • AiRsMiTh

    Well, that is disheartening to see. Makes me dislike the entities such as the NBA & NFL more. Cannot necessarily blame them for how their players spend their money, but to sit there and allow the majority of their athletes to go into financial ruin doesn’t sit well with me.

    I would hope that these statistics are used as a main point of emphasis at the rookie symposiums. Perhaps these huge leagues or the franchises themselves should employ advisors of some sort to at least try to prevent constant, excessive spending. I once again do not blame these entities, but after all, these players create these enormous fortunes for them and they deserve some sort of safety net.

  • AiRsMiTh

    Very thoughtful statement. So spot on, and yes I do believe our capitalist society is set upon spending.

  • CUBA220

    what makes you think that?

  • danpowers

    that just points out whats wrong and rotten about the american ideal regarding competition on the highest level imo. i like your statement and couldnt agree more and will definitely watch this one as soon as possible.

  • danpowers

    well you know, just the way he walks. makes me kinda suspicious ;)

  • CUBA220

    what?? that makes no sense

  • danpowers

    no? hm, then maybe because of his reputation to be a knucklehead?

  • CUBA220

    so since he is a “knucklehead” he is gonna go broke? u must know him personally then huh?

  • Mike Gilbert

    why are you getting so defensive about him jokingly saying DeMarcus Cousins is gonna go broke. Relax. over 50% of NBA players go broke within 5 years of retirement. Clearly Cousins could be one of them.

  • retrobat

    Your last statement is an interesting one regarding a suffering economy due to less spending by millionaires. However, my thoughts are that if these athletes are purchasing high over-priced products, how many jobs are they saving/creating. If they buy 3-4 really expensive cars for, let’s say, 1 mil…then how many jobs are really being saved? It’s not like they’re spending all their millions at Taco Bell and saving thousands of jobs. It’s all subjective and you definitely have a point.

  • rl
  • CUBA220

    First off, wasnt being defensive (I am now towards you) I was just asking why he said what he said (to get insight on his opinion). Then he answered with a response that made no sense. Then hisblast answer triggered a couple more questions cause I still wasnt sure what his thoughts were. Now my question to you is what makes Cousins a clear possibility to you that he will go broke?

  • End bullying

    You shouldn’t make fun of someone’s $$$ management.

  • End bullying

    Don’t talk bad about those human beings.

  • http://twitter.com/sooperfadeaway nbk

    talk bad? stating stuff that you can confirm is not talking bad. i don’t make any assumptions about these people, like i said below, “idk if that stuff is still haunting Baker, but he was having personal troubles last time I heard about him. I don’t really like to speculate on who is going to be broke or why, I just think it’s sad. “

  • LakeShow

    I love Cousins game. SHOULD be the 3rd best center in the L.
    .
    .
    .
    But then again, Javale McGee should be top 5….

  • LakeShow

    Are you for real?

  • http://twitter.com/sooperfadeaway nbk

    well most NBA players go broke. i think that makes all of them a clear possibility……

  • http://www.slamonline.com/ Nick Tha Quick

    @ Retrobat Agreed. It is all subjective. Buying those 3-4 expensive cars directly and indirectly pays several chains of employment from the dealerships, state DMVs, custom auto shops etc I bet there in an entire industry in major cities specifically built around supporting the needs of millionaire athletes to buy, modify and maintain expensive cars and toys. Some of these business almost exclusively market to these athletes like suit makers, custom jewellers, fashion designers (Dwade’s leather pants!) and obviously include the athletes’ spouses. Without the athletes’ disposable millions, these businesses would still exist but would probably not do so well

  • http://www.slamonline.com/ Nick Tha Quick

    A lot of the money from these athletes is almost immediately injected into the local economy from the costs of all their dependents to their personal over-spending habits. I see what you’re saying that as a whole, money from these guys does not make or break Taco Bells profit margin or determine if they should hire or lay people off. However, on an individual or household level, these guys are REALLY pumping cash into their local economies.

  • Slick Ric

    Expecting big things from Cousins this season, hopefully he becomes All-star worthy.

  • robb

  • danpowers

    dude, could it be that youre getting a little too serious about a harmless joke?

  • http://basketball-performance.com/ Basketball Tips

    well he is a good big man, can’t argue with that. but his attitude hmmmm…

    http://basketballcoach.ca/

  • Busta213

    Vin had a substance abuse issue though – I think alcohol

  • Busta213

    Folks just assume that rich & famous people always stay rich. Usually the athlete feels obligated to help out because he knows he probably wouldntve made it to the L without his support system in his neighborhood.

  • http://www.rich-imaging.com/ Dutch Rich

    Mutoni sighting, word is bond!

  • Drig

    ……………why???

    Him and Javale have tons of talent but haven’t translated it to tangible impact on the court for similar reasons.

    IMO, he’s worth 10 million. But then again, DeAndre Jordan is worth 10 million………..

  • DK

    Me too man why?!?!?! I just cannot help myself.

  • Mike Gilbert

    since the majority of NBA players go broke…and Cousins is clearly a bit of a headcase…it would seem he is more likely to go broke then to not

  • Evan Boland

    Lmao this guy is something else.

  • The Seed

    He is not worth it.

  • AboveYou

    Ridiculous in a sense that no one should be spending that amount in a month, but totally expected from him.

  • AboveYou

    I can’t say I fully agree with what you’re saying, in regards to your opinions of luxury businesses dependent on athletes. In the grand scheme of things, athletes make up a teeny tiny percentage of the country’s millionaires, and it’s not exactly as though an athletes created a demand for a specific luxury product. Basically, they purchase what other millionaires purchase. I can’t think of any luxury product catered specifically toward athletes enough for a lack of athlete purchases to hurt the business. Big and tall luxury suit makers existed long before athletes were making millions. There are no custom jewelers dependent on athlete money for survival (Cartier and Harry Winston would scoff at this notion). Fashion designers damn sure aren’t dependent on these guys. Up until recently athletes were running around in big baggy jerseys and jeans. Do you really think Tom Ford and Roberto Cavalli had NFLers and NBAers in mind at any point in their design careers? Do you really think their pockets would be hurt these guys stopped spending money on their clothes? I don’t think so.

    I liken it to the whole Jay-Z/Cristal “feud”. Due to Jay-Z’s claims of racism, most rappers and the wealthy amongst the hip hop crowd haven’t supported the champagne since then. Cristal didn’t suffer a bit. The so-called boycott of the brand did nothing to hurt the company.

    I think the visibility of athlete wealth may make it seem like their economic impact is grander than what it is. I agreed 100% with your intial comment, but as a business person I disagree on the impact of athletes tapering of outrageous spending.

  • Daryl Morey
  • BenjiPen

    he would been a max guy if he wouldnt have been so friggin weird and dysfunctional at times….. ah well still love the guy

  • J Du Bois

    Technically Allen isn’t completely broke

  • Teddy-the-Bear

    I feel you, Cuba220. I know what you were getting at and I appreciate you pressing him for an explanation.

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