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.
The Average Salaries of NBA Players. The average salary for a National Basketball Association player is $5.84 million, according to a July 2009 NBA news release announcing the salary cap for the 2009-10 season. This marks the fifth straight year that annual salaries exceeded $5 million.