The 1980s saw a significant rise in athlete salaries as television deals, sponsorships, and endorsement opportunities expanded. While contracts in the millions were considered groundbreaking at the time, they pale in comparison to today’s record-breaking deals. In the ‘80s, earning $10 million over a few years was enough to make an athlete one of the highest-paid in the world. Fast-forward to today and single-season earnings often surpass what athletes made in an entire decade. The sports industry has exploded in revenue, turning elite athletes into global superstars with multimillion-dollar deals. Let’s take a look at 10 of the biggest sports contracts from the ‘80s and compare them to the astronomical figures athletes are earning today.
1. 1980s: Magic Johnson – $25 Million (25 Years)
In 1981, Magic Johnson signed one of the longest and most famous contracts in sports history—a 25-year, $25 million deal with the Los Angeles Lakers. At the time, this was the richest contract in professional basketball, ensuring that Johnson would remain with the team for his entire career. The deal was considered revolutionary because of its long duration, providing Johnson with long-term financial security. Adjusted for inflation, his contract would be worth around $80 million today, but it’s still far smaller than modern sports deals.
2. Today: Lionel Messi – $674 Million (4 Years)
By contrast, Lionel Messi’s four-year contract with FC Barcelona, signed in 2017, was valued at an eye-watering $674 million. This deal included salary, bonuses, and image rights, making it the richest contract in sports history at the time. Messi’s earnings per season were over 25 times what Magic Johnson earned for his entire contract. The explosion of television rights and sponsorships has made soccer players among the highest-paid athletes in the world. According to Essentially Sports, Messi’s contract highlighted just how far sports salaries have come in a few decades.
3. 1980s: Wayne Gretzky – $21 Million (10 Years)
In 1982, hockey legend Wayne Gretzky signed a 10-year, $21 million contract with the Edmonton Oilers, making him the highest-paid player in the NHL at the time. The deal reflected his dominance on the ice and helped pave the way for larger salaries in hockey. Despite being the best player in the sport, Gretzky’s earnings were modest compared to today’s standards. His contract would be worth roughly $60 million today when adjusted for inflation.
4. Today: Patrick Mahomes – $503 Million (10 Years)
Kansas City Chiefs quarterback Patrick Mahomes shattered records in 2020 by signing a 10-year, $503 million contract extension. This deal is the largest in NFL history and guarantees him an average annual salary of over $50 million. Unlike Gretzky’s deal, Mahomes’ contract includes incentives and performance bonuses that could push its total value even higher. The NFL’s lucrative TV deals and growing international popularity have made it possible for players to earn half a billion dollars. According to SI.com, compared to Gretzky’s 1980s deal, Mahomes’ contract shows just how much professional sports revenue has skyrocketed.
5. 1980s: Mike Schmidt – $2 Million Per Year
Philadelphia Phillies legend Mike Schmidt became baseball’s highest-paid player in 1981 when he signed a contract worth $2 million per year. This was a groundbreaking figure at the time, making him one of the wealthiest athletes in professional sports. His contract reflected his dominance in Major League Baseball, where he was one of the best hitters of his generation. While $2 million per year was enormous in the ‘80s, it now seems small in comparison to modern baseball salaries.
6. Today: Shohei Ohtani – $700 Million (10 Years)
Shohei Ohtani changed the landscape of baseball contracts in 2023 when he signed a record-breaking 10-year, $700 million deal with the Los Angeles Dodgers. This contract is the largest in baseball history, dwarfing Schmidt’s salary by hundreds of millions. Ohtani, a rare two-way player who excels as both a pitcher and a hitter, commands an unprecedented market value. His deal includes deferred payments, but the overall number still demonstrates how much player salaries have inflated. According to Spotrac, compared to Schmidt’s contract, Ohtani’s earnings show the massive financial growth of Major League Baseball.
7. 1980s: Larry Bird – $7 Million (7 Years)
Boston Celtics legend Larry Bird was one of the highest-paid players in the NBA during the ‘80s, earning $7 million over a seven-year contract. At the time, this was considered a significant deal, reflecting Bird’s impact on the league. His earnings allowed him to live comfortably, and his contract cemented his status as one of basketball’s biggest stars. However, his total career earnings are still nowhere near what today’s NBA superstars make.
8. Today: LeBron James – Over $1 Billion in Career Earnings
LeBron James, arguably the greatest player of his generation, has earned over $1 billion in career earnings through contracts, endorsements, and business ventures. His NBA contracts alone have surpassed $500 million, with additional income from sponsorships with Nike, Pepsi, and Beats by Dre. Unlike Bird, who primarily earned money from playing basketball, today’s athletes make most of their wealth through branding and investments. According to Sportskeeda, LeBron’s financial success showcases the business side of modern sports. Compared to Bird, LeBron’s earnings demonstrate how the NBA has evolved into a global billion-dollar industry.
9. 1980s: Joe Montana – $4 Million (4 Years)
NFL quarterback Joe Montana signed a four-year, $4 million contract in the 1980s, making him one of the highest-paid players in football. His deal was considered groundbreaking, as the NFL wasn’t yet generating the same level of revenue as baseball or basketball. Montana was one of the league’s biggest stars, and his contract reflected his importance to the San Francisco 49ers. However, his salary is nowhere near what today’s top athletes earn.
10. Today: Cristiano Ronaldo – $200 Million Per Year
Portuguese soccer star Cristiano Ronaldo now earns an astonishing $200 million per year playing for Al Nassr in Saudi Arabia. His contract, signed in 2022, is one of the highest-paying deals in sports history. Unlike Montana’s deal, Ronaldo’s earnings are boosted by massive sponsorships and international branding. His contract highlights the financial power of global soccer and the increasing influence of Middle Eastern sports investments. Compared to Montana’s modest NFL salary, Ronaldo’s earnings illustrate the global shift in sports economics.
11. 1980s: Nolan Ryan – $4.5 Million (4 Years)
In 1980, legendary MLB pitcher Nolan Ryan signed a four-year, $4.5 million contract with the Houston Astros, making him the highest-paid player in baseball at the time. His deal was seen as extravagant, especially for a pitcher, and set a new benchmark for player salaries. Ryan’s dominance on the mound justified his historic contract. However, in today’s sports world, even role players earn more than this amount per season.
12. Today: Giannis Antetokounmpo – $228 Million (5 Years)
Milwaukee Bucks superstar Giannis Antetokounmpo signed a five-year, $228 million contract in 2020, one of the largest in NBA history. His contract guarantees him an average annual salary of over $45 million, a number that would have been unimaginable in the 1980s. Unlike Ryan’s deal, Giannis’ contract benefits from the NBA’s massive TV deals and international expansion. His earnings reflect the modern era of basketball, where global appeal and media rights have transformed player salaries. Compared to Ryan, Giannis’ contract shows how much the business of sports has evolved.
Looking back at the highest-paid athletes of the 1980s versus today’s record-breaking contracts reveals just how much sports economics have changed. While million-dollar deals were once groundbreaking, they now seem small compared to the massive sums earned by modern superstars. The rise of global TV deals, digital media, and international sponsorships has transformed sports into a billion-dollar industry. Athletes today don’t just earn from their performances—they build empires through branding, endorsements, and global marketability. If the trend continues, future contracts could surpass even today’s jaw-dropping figures, proving that sports salaries will only keep climbing.
