The highest-paid NBA players by season has recently eclipsed $40 million. Larry Bird was the first player to earn $5 million or more with a salary of $7,070,000 in the 1991-92 season. Magic Johnson became the first player to earn $10 million or more in the 94-95 season with a salary of $14,660,000. Patrick Ewing became the first player to earn $15 million or more in the 95-96 season with a salary of $18,724,000. Michael Jordan was the first NBA player to sign a contract worth over $20 million and in fact it exceeded $30 million as well in a season ; this was a record he had held for 15 years. During the 1997–98 season, Jordan earned $33,140,000, which still stands as the most any NBA player has earned on a 1-year contract. Jordan also holds the record for the second largest 1-year contract at $30,140,000 in the 1996-97 season. Kobe Bryant became just the second player to reach this milestone when the 2013–14 season began. LeBron James became the third in the 2016–17 season. Stephen Curry became the first player to eclipse $40 million per year when he signed a record 5-year contract worth $201 million in 2017, starting with $34,682,550 in the 2017-18 season and ending with the largest earnings in the 2021-22 season with a record payout of $45,780,966. Beginning in the 1984–85 NBA season, the NBA's first salary cap was introduced. The NBA salary cap is the maximum dollar amount each NBA team can spend on its players for the season. However, the NBA uses a "soft" salary cap, which means that significant "salary exceptions" allow NBA teams to exceed their allotted amount in order to sign players. The salary cap is determined during the offseason, but as stated earlier, it is liable to change. An exception is necessary to sign a player for a contract that would exceed the salary cap threshold of the "soft cap". The Larry Bird exception, more commonly known as Bird Rights, allows teams to re-sign a current player only if he has played for that particular team for a minimum of three years. Another exception, known as the mid-level exception, allows for teams that are over the salary cap to sign one or more players as long as they do not exceed the total amount of the average NBA salary. Next, the bi-annual exception can be used by teams every other year to sign a free agent for up to two years at an amount set by the NBA. Finally, the rookie player exception allows any NBA team to sign their first-round draft pick to a contract based upon a scale previously set forth by the NBA. Another option for teams would be to assign players to a league-assigned minimum salary contract for a maximum of two years. According to 2010–11 NBA season game performance, the league's best players were not its highest-paid players. Each year there are ten players selected to one of the two All-NBA Teams. Out of those ten players chosen that year, Kobe Bryant was the only player that was also among the game's ten highest-paid during the 2010–11 NBA season.
