What is 'Liability' A liability is a company's financial debt or obligations that arise during the course of its business operations. Liabilities are settled over time through the transfer of economic benefits including money, goods or services.
The Minimum Annual Salary for an NBA player varies from year to year and depends on how long they have been playing in the NBA. The minimum for a 10 year veteran is far different from the minimum salary for a rookie. The minimum rookie salary in the 2010 - 2011 season is set at $473,604 USD.
1 On October 6, the NBA announced a new 9-year TV deal with ESPN and TNT worth $24 billion. 2  Starting in the 2015â16 NBA season, the NBA's value increased from $930 million to $2.6 billion per year, which would also increase each team's salary cap from $63 million to around $89 million.