What is Zach Edey's Net Worth?
What is Zach Edey's Net Worth?
By Edcel Panganiban August 15, 2024 09:47
NCAA champ Zach Edey, who was taken 9th overall by the Memphis Grizzlies this year, made massive strides throughout his career that led to him being the NBA Draft recipient. At 7 feet 4 inches tall, Edey has been a force on the court and is starting to build off his skill set in other areas that reflect such talent at hard work. This article examines Zach Edey's net worth and earnings through professional basketball contracts, possible endorsement deals, and other financial endeavors.
Early Life and Education
Zachry Cheyne Edey was a Canadian born in Toronto, Ontario, on May 14, 2002. Edey grew up playing several sports but soon turned his focus to basketball, as his height and skill set made him a perfect specimen for the game. The Canadian began his prep career at Leaside High School in Toronto before heading south and joining the powerhouse IMG Academy program out of Bradenton, Florida, where he took daily reps against some of America's top high school hoopers.
Edey played college basketball for the Purdue Boilermakers from 2020 to 2024. He was awesome at Purdue and became one of the best college players in America there. He won POY awards in his junior and senior years, beating last year's ROF player ratings, most importantly. He will likely become an even bigger name over the seasons, as he led Purdue to the NCAA Division I men's basketball championship game with his college career finishing up this year.
Professional Career Earnings
NBA Draft and Rookie Contract
The 2024 NBA Draft had previously sent Edey to the Memphis Grizzlies as a first-round selection. Edey, the No. 9 overall pick, will be in line for a significant contract. By most accounts, a first-year RFA tender for a salary around where this player was drafted annually costs between $4 million and $5 million in actual/ cash payout as part of his specific contract, including bonuses. Expected to last four years, laying the groundwork for some financial upside through performance bonuses and add-ons.
Performance Bonuses
Edey can make performance bonuses on top of his base salary if he successfully transitions from college basketball to the NBA. There are incentives for statistical benchmarks, points, rebounds, and winning flags. With Edey coming in off an impressive college campaign that saw him put up 25.2 points, 12.2 rebounds, and record a career-high five blocks per game, he should not have too much trouble continuing his stellar play in the NBA and hopefully earning some more money by way of these bonuses as well.
Endorsement Deals
Current Endorsements
Edey is still a relative rookie but has already attracted multiple brands hoping to cash in on his burgeoning star power. Throughout his career, he has already built a net worth between $100K and $300K, which also sets him up for more endorsement deals. But his earning potential has only been scratched, especially regarding those massive endorsement deals.
Future Potential
If he's able to make noise in the NBA, then he could earn bigger endorsements. His unique build and rise to dominance in college basketball resulted in several brands signing him, mostly targeting the sports lover market. He adds that there could be opportunities through partnerships with athletic apparel companies, sports drinks, and health-related products that would cause him to break out.
Recharge, Interest, Income, etc.
NIL Opportunities
Edey faced difficulty throughout his four years in college, leveraging Name, Image, and Likeness (NIL) given that he was from Canada and on a student visa, which made capitalizing on any big money deals with U.S.-based companies nearly impossible. Some of these are sanctions, but he has been able to build his brand in Canada through the Boilermaker Alliance, a Purdue NIL collective, Canadian charities, and boisterous co-branding events. Edey could have additional opportunities for endorsement and sponsorship money as the landscape of NIL regulations continues to change.
Future Investments
As his career develops, Edey may consider investing. Most professional athletes invest in real estate, start-ups, etc., to diversify income streams and prove their financial security. As his celebrity rises, Edey has potential access to investment opportunities that are consistent with the portfolio he wants to build and his social conscience.
As he progresses in basketball and professional sports, we can only hope that Edey represents a model for inspiring athletes who want financial independence from their careers through skill, hard work, and sound planning. Zach is a young individual, but given his previous successes and currently marketable skills, he's already made quite a statement in basketball and business.
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