Most people in society only think about economics within the realm of everyday living, but it’s alive in the sporting world just as it is in any other business globally.
You often hear how political parties shift the economic landscape through monetary policy or increased regulation. Still, the same principle applies within the NBA environment, where a host of rules and stipulations are embedded in the NBA’s Collective Bargaining Agreement.
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The world of sport and money is a significant pillar for the vitality of the Association, and impacts every employee working under the NBA brand. For some, it’s an incredible opportunity to build generational wealth; for others, however, like former Los Angeles Lakers forward Rick Fox, it’s a painful lesson on how the market and one ill-advised choice from a key decision-maker can dictate one’s future.
Fox gets stung
The year was 1997. The Boston Celtics, long removed from their championship success of the 1980s, were in the midst of trying to reestablish dominance towards the end of the 1990s. They had drafted Fox with the 24th pick in 1991, who ended up exceeding expectations by averaging over 15 points a game at the peak of his powers in the 1996-97 season.
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It resulted in what many people, including Fox himself, anticipated to be a lucrative contract extension to remain with the franchise. Discussed behind closed doors, there was a $33 million deal on the table. That was until former Celtics head coach Rick Pitino had other ideas involving Lakers backup center Travis Knight, whom he ended up signing for $22 million over seven years.
In doing so, it left no money to re-sign Fox. All of a sudden, in the blink of an eye, Rick was $33 million poorer, and it was a moment he’ll never forget.
“I was furious. This was really late in the game, and teams didn’t have any money left for free agents. So instead of making $33 million, I was pretty much available for $1 million. Which made me the hottest remaining free agent on the market,” Fox said in Jeff Pearlman’s book “Three-Ring Circus: Kobe, Shaq, Phil, and the Crazy Years of the Lakers Dynasty.”
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Fox’s contract situation highlights the brutal nature of NBA economics. Roster construction matters more than anything, but there are limited resources to go around. At the time, Celtics fans were furious that they couldn’t financially retain Fox and opted to essentially replace him with a backup center who, at the time, was averaging just 4.8 points and 4.5 rebounds per game.
It highlights what many players have experienced throughout the decades, where they were promised fortunes but ultimately had to settle for the bare minimum because the league’s landscape dictated it.
Accidental greatness
Now, before you feel sorry for Fox for losing $33 million, it’s essential to note that he earned over $34 million during his NBA career. Even the $1 million he signed for with the Lakers was more than some people make in a lifetime, and when you contextualize the money at stake, it might not make it easier in Rick’s eyes, but it’s safe to say he’s not going hungry.
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In addition, despite losing out, he inadvertently stumbled into the best situation of his career in the process. In just two short seasons after his arrival, Fox was playing an integral role in a championship run — a reality he was worlds away from in Boston. Not just that, two more titles followed, as Rick was front and center amidst the most successful period in the Lakers’ modern history.
The money is nice, but you can make a strong case that the legacy is larger. Even to this day, people reference those championship teams and all the players that played a part. There is no question that being part of a historical franchise like the Lakers and three-peating opened considerably more doors post-career than if he had stayed in Boston and continued to be a steady role player.
Sometimes, NBA championships aren’t planned; they’re the product of chaos, timing, and mismanagement elsewhere. When stepping back, Fox’s dynasty role only existed because of a front-office miscalculation in Boston. A “wrong place, wrong time” moment that turned into a three-ring reward.
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It’s also a reminder of how salary-cap politics can change the trajectory of an entire career. If Fox had never made the switch from the Celtics to the Lakers, he might have been a forgotten role player just like so many of his peers have become over the course of time. In reality, the harsh 90s salary cap forced teams to choose between loyalty and long-term planning.
Indirectly, Fox’s addition strengthened the supporting cast around Shaquille O’Neal and Kobe Bryant. The fact that Rick went on to win in a bitter rival’s uniform only adds insult to injury from a Boston point of view.
This story was originally published by Basketball Network on Jan 11, 2026, where it first appeared in the Old School section. Add Basketball Network as a Preferred Source by clicking here.