10/05/1993 - Larry Johnson signs for big money
Today in Sports History: October 5th
One day before the shocking retirement of Michael Jordan, Larry Johnson of the Charlotte Hornets signs the most lucrative contract in NBA history: 12 years, $84 million. Johnson had been selected with the No. 1 pick in the draft two years ago and averaged 20 points and 10 rebounds in his first two years. But... $84 million?
“I was flipping through the pages looking at it and finally said, ‘You’d better hurry and sign this, big guy, before somebody changes their mind,’ ” Johnson told reporters.
No one could believe it. At $84 million, there had never been a contract of that length and that much money; it was nearly twice as large as the next-biggest NBA deal, the seven-year, $44 million deal the 76ers gave to Shawn Bradley. Johnson was now on the books to play for the Hornets until 2005, and Charlotte owner George Shinn was confident that he had made the right move. "He's the leader of this team, and he will always be the leader of this team," he said.
It didn't work out. Like many NBA players who began their careers injury-free, Johnson's knees began to betray him. He was a productive player and good mid-range scorer in Charlotte, and he was certainly a better player than Shawn Bradley, but he never evolved into the Hall of Fame superstar that his contract demanded him to be. In 1996, he was traded to the New York Knicks and became a role player alongside Allan Houston and Patrick Ewing.
He retired in 2001 at the age of 32, still four years shy of living up to his contract. By then, Kevin Garnett of the Minnesota Timberwolves had outdone him by signing a gargantuan $126 million contract. By the time 2005 rolled around, not only was Larry Johnson not on the Hornets, the ballclub had even moved to New Orleans, Lousiana.
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