Patrick Beverley disclosed that he shared some financial advice with his former teammate, Jarred Vanderbilt, who now plays for the LA Lakers, before Vanderbilt signed a four-year, $48 million extension with thenLakers.
During his “Pat Bev Podcast” episode on Wednesday, Beverley said that he advised Vanderbilt not to commit to an extension. Interestingly, this advice came just before the news of Vanderbilt signing the extension on the same day became public.
“I go, Thursday at 8:18 a.m., first thing in the morning: ‘Don’t sign an extension. Trust me. Hoop, stay in shape, have fun. I repeat: Do not sign an extension,’” Beverley said, reading his message to Vanderbilt.
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When Vanderbilt inquired about the reason for this advice, Beverley said that he believed Vanderbilt would have more leverage and better opportunities as a free agent rather than through signing an extension.
“Obviously, you sign an extension, you get your worth. You sign as a free agent, you get overpaid,” Beverley said. “That’s where the overpaid title comes from: when you’re a free agent.
“For what he does, he should be overpaid. If he would have waited, we’re talking ’bout four-year, $60 million; four-year $65 million.”
Vanderbilt’s contract extension with the LA Lakers includes the following annual salaries: $10.7 million for the 2024-25 season, $11.6 million for 2025-26, $12.4 million for 2026-27 and $13.3 million for 2027-28. In the final year of the contract, there is a player option for Vanderbilt, allowing him to decide whether to continue with the team or explore other opportunities.
Beverley said Vanderbilt “left a ton of money on the table” by signing his extension.
“But it’s also hard to turn down $48 million,” he said.
“And then as soon as I hear him sign it, I call him, ‘Yeah, gang, why the f**k you sign that damn deal?’” Beverley said.
Beverley and Vanderbilt were teammates on the Minnesota Timberwolves, appearing in 63 games together in the 2021-22 season.
Patrick Beverley took a pay cut to join the 76ers
Beverley will play for the Philadelphia 76ers next season after signing a contract worth nearly $3.2 million.
The veteran defender said he took a pay cut in his latest contract.
“I like Nick Nurse,” he said. “Obviously, I took a pay cut, but it’s never been about the money. You feel me? It’s always about the basketball.”
Beverley’s biggest contract was given to him by the LA Clippers. It was a three-year, $40 million free-agent deal that spanned from 2019 to 2021.
After that, he signed a one-year, $13 million deal with the Timberwolves.
Before that, he netted a four-year, $23 million contract with the Houston Rockets.
Edited by Joseph Schiefelbein
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