For 19 seasons, Tim Duncan graced the league with his humble yet explosive nature on the court. That’s why many consider him to be the epitome of Power Forwards. Being part of the San Antonio Spurs franchise for the entirety of his league career is another measure of his success throughout his spell. The 48-year-old won individual accolades as well as championships to prove his worth time and again. And the same success he found in his business venture after his retirement.
After basketball, it turns out he fell in love again, this time in the automotive industry. But it’s not all smooth sailing, as he even got scammed by a very close associate which led to a multi-million dollar loss. However, Tim Duncan expressed that loss did not affect him, since he had his business in order. So, let’s look at how he built his empire, starting from his league salaries.
Tim Duncan’s NBA earnings match his stature
The Big Fundamental has a net worth of $130 million as per Celebrity Net Worth. The major contribution was from his 6 contract signings with the Spurs. Being the first pick in the 1997 Draft, Tim Duncan signed a rookie contract of $10 million for 3 years. You would be surprised to know that basketball was not his first priority. He wanted to be an Olympic swimmer, just like his sisters. But the effects of Hurricane Hugo in 1989 meant Duncan had to practice in the ocean, and his fear of sharks prohibited his swimming dream from continuing.
The Wake Forest alum played for 4 years before entering the NBA Draft and would go on to win the Rookie of the Year award. The ROTY award was no surprise since he won every single Rookie of the Month award. His contribution was immaculate as he earned the Finals MVP accolade and helped the Spurs clinch their first championship in his second season. On the back of the championship season, Tim Duncan signed his first extension, another 3 year contract worth $10 million.
This time, the results for the San Antonio fan base got even better. Another championship, another Finals MVP, and this time he became 2x MVP! That too back to back in 2002 and 2003. Thus, he established himself as the leader of the group and his next paycheck had to justify that. A 7-year $122 million contract followed with three more short-term deals later, and he became the fourth-highest-paid player in league history at the time of his retirement.
Kevin Garnett $326 million, Kobe Bryant $323 million, and only Shaquille O’Neal $286 million made more in career earnings. As per multiple reports, he even took a pay cut at the end of his career to accommodate for the cost cap and build for the future.
The 5x Champion’s great business acumen
“I love to go and get my cars worked on. I’ve always loved cars. I think it didn’t really take off until later in college [when] I started loving horsepower and speed. As I got to the league, I was able to see more and know more about cars. It just kind of grew and grew and grew.” In 2013, Tim Duncan started his BlackJack Speed Shop with long-term business partner Jack Pena. Since he is a car fanatic, his business offers a one-stop shop solution from wheels changes to complete rebuilds.
But the 5x NBA Champion once revealed that his coach Gregg Popovich only allows them to change the wheels and nothing else. But other former NBA stars do send in their vehicles without hesitation. Tim Duncan got his license for the first time during his sophomore year at Wake Forest. Since then, he has successfully opened his venture and reportedly has nine cars in his collection. A 1950 Mercury, an Audi R8, and a GMC Yukon, which has a six-inch lift and 22×12 tires.
But not all his ventures were profitable. Some made losses due to no fault of his own. As per records, he lost more than $24 million in bad investments because of fraud from Charles Banks IV of Atlanta. As per the San Antonio Current, he was the financial advisor for Tim Duncan and was sentenced to a four-year prison punishment in 2017. The nature of the wire fraud meant the Spurs received only $7.5 million in settlement.
“Luckily I had a long career and made good money. This is a big chunk, but it’s not going to change my life in any way. It’s not going to make any decisions for me.” The benefit of being a top earner of the league and his steady business of BlackJack Speed Shop meant that the damages were limited.
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