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Jayson Tatum Reveals How Never Spends a Penny from NBA Salary Despite Landing Largest Contract in History
Who’s a mama’s boy? Apparently, Jayson Tatum! Despite landing the largest contract in history, Jayson Tatum recently revealed how he never spends a penny from his NBA salary. Here’s why!
Jayson Tatum won’t be dipping into his massive contract earnings. Why? Because he's a devoted mama's boy, and his mama told him not to! Having grown up mainly with his mother, Tatum is very close to Brandy Cole, whom he once described as his best friend.
So, it's no shock that when it comes to his finances, the Celtics star has put his mom in charge of his bank accounts.
Jayson Tatum has a taste for pricey watches, but his mom, Brandy Cole, focuses on saving
Earlier this month, Jayson Tatum signed a five-year, $315M supermax deal with the Boston Celtics, the NBA reports. Fresh off an NBA Championship, this new contract sets a record for the largest overall salary for any NBA player ever.
You might think the five-time All-Star has grand plans for his newfound wealth. However, in agreement with his mother, Brandy Cole, Tatum won’t touch any of it.
Brandy explains that JT loves splurging on expensive items like watches. Since all financial matters go through her, she is aware of every transaction Jayson makes.
"I'm the one who processes the wires and gets receipts and then insures everything, and stuff like that," revealed Brandy in an interview with Graham Bensinger.
She continued, "I can tell from his face when he walks into my office that there's about to be a wire. It's just this expression on his face and I know exactly what it means that 'I need to send someone some money.' He's already picked something out. And sometimes the price makes me say 'What does this watch do?' And he's like 'But it's not the Celtic money.'"
Brandy Cole had a tough journey and doesn't want Jayson to forget that
Brandy was set to attend the University of Tennessee on a full athletic scholarship as a standout volleyball player in high school. However, weeks after graduating, she discovered she was pregnant with Jayson. She then attended a local college to earn her degree.
While studying, she worked part-time jobs to fund her education and raise young JT. Because of these hardships, the mother and son agreed to be careful with the money Jayson would earn in the NBA.
The Celtics star shared, "So we had a deal before I got drafted that I couldn't spend the money I make from the Celtics, that we have to live off endorsements. And her and my accountant agreed.
“They didn't know that I would make as much as I did off the court. So in my mind, I gotta spend that money. All that money got to go. I got to enjoy it," added Jayson.
The endorsement approach has worked out well for him. Forbes reported that his endorsements have brought in $13 million. Tatum’s sponsors and endorsements include Jordan Brand, Gatorade, Subway, NBA 2K, and Ruffles. He also co-founded the plant-based candy brand Small Wins, which is collaborating with Walmart.
The choice to avoid spending his contract earnings likely stems from Tatum’s upbringing, where even an extra $100 to save was unheard of for the mother-son duo.
“I think we just have a different level of appreciation,” Tatum’s mother, Cole, explained in the same video. She continued, how in some ways, it hindered their ways because there are things that are extremely new to them, starting from investing to different levels of assets that they never had.
Cole said she’s never had an extra $100 a month to put away in investments or savings. So, in some ways, they had to learn a lot, and mostly, the hard way. But for the most part, Jayson’s mom explained how her son is aware of the things he never wants to go back to.
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