The Business of Sports October 28, 2010, 12:22PM EST

Which NBA Teams Spent the Most Offseason?

NBA teams spent more than $1.7 billion on free agents in the offseason—more than the GDP of 20 countries

Story Tools

1. Come On, Get It: NBA Season Starts for Real

Thanks to his new collaboration with TNT, the theme music of the just-underway 2010 NBA regular season will be that of retro stylist Lenny Kravitz, whose new single Come On Get It is sure to blast from the Rose Garden in Portland to NYC's Madison Square Garden, down to the sparkling new Amway Center in Orlando.

The soundtrack of the off-season just past, however, is more like Take the Money and Run.

How wild was this NBA offseason? Teams dished out more than $1.7 billion to free agents over the summer, more than the gross domestic products of 20 countries. By comparison, only $500 million was handed out to NBA players in the summer of 2009. The year-over-year discrepancy results from the number of high-profile players eligible for free agency this summer. This year, 11 players signed contracts worth more than $50 million. In 2009, just three players signed contracts that lucrative.

The Miami Heat, of course, spent almost three times more money on players than any other team—though it didn't guarantee them an Opening Night win, as the much-vaunted Fab Three of LeBron James, Dwyane Wade, and Chris Bosh lost Tuesday night to the Boston Celtics at TD Banknorth Garden. The Heat essentially let go of their entire roster after last season to make room for James, Wade, and Bosh.

Rather than signing new players, the Dallas Mavericks spent their money bringing back two top players. Both the Knicks and Bulls were part of the LeBron sweepstakes but used their cap space on other players when James landed in Miami.

Most Money Spent This Offseason

Miami Heat — $385 million

Dallas Mavericks — $135 million

New York Knicks — $125 million

Chicago Bulls — $107 million

Houston Rockets — $104 million

Boston Celtics — $93 million

It's no surprise that more superstars were on the free agent market this year compared with last year. With the NBA's collective bargaining agreement (CBA) set to expire next June, some of the league's top players structured their previous contracts to opt out this offseason. The goal was to secure one last, big deal before a new CBA could alter contract rules.

Commissioner David Stern said last week that he wants to cut player costs by $800 million. New CBA terms could limit both the length and maximum value of player contracts.

Of course, if the NBA locks out players next summer, and with a record 84 international players from 38 countries/territories on NBA rosters at the beginning of the season, such locales as Belize and Samoa will make more money than even the cheapest basketball free agents.

2. NBA Report Card: 1988-89

What if the Miami Heat, playing in TNT's most-watched season-opening game in 27 years and drawing 500 members of the media to an October road game, didn't exist?

The thought isn't that far-fetched.

When David Stern took over as NBA Commissioner in 1984, the NBA decided it would expand from 23 to 26 franchises by the end of the decade. Seven cities bid for those coveted three spots: Charlotte, Kansas City, Miami, Minneapolis, Orlando, Pittsburgh, and St. Louis.

Bringing a team to Miami was an uphill battle. The NBA's expansion committee publicly supported bids from Charlotte and Minneapolis but couldn't decide between Miami and Orlando for the third and final spot. So instead of adding three new franchises, the league actually grew by four. Charlotte, Miami, Minnesota, and Orlando. The NBA's Class of 1988-89.