Former Los Angeles Lakers star Patrick Beverley opened up on sharing financial advice that he shared with his former teammate Jarred Vanderbilt. Beverley told Vanderbilt to not sign a a four-year, $48 million extension with the Lakers but the latter was tempted and eventually went on to sign the extension.
During his “Pat Bev Podcast”, Beverley shared that he had told Vanderbilt to reject the extension. Interestingly, this advice came to Vanderbilt just before he signed the extension and it was made 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.
When Vanderbilt cross-questioned his judgement, Beverley shared that he believed that Vanderbilt could have more leverage and opportunities as a free agent than 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.
Beverley feels that Vanderbilt is worth way more than the amount he signed the extension. He believes he could have gotten a deal around $60-65 million. “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.”
However, Beverley understands that it is hard to turn down a deal of $45 million when its on the table. Pat Bev and Vanderbilt were teammates at the Minnesota Timberwolves where they played 63 games together in the 2021-22 season.
The veteran will play for the Philadelphia 76ers next season after signing a contract worth nearly $3.2 million. He shared how he took a pay cut just because he wanted to work with Nick Nurse “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.”
The veteran defender’s biggest contract in the NBA was handed out by the LA Clippers. It was a three-year deal $40 million free-agent deal that was from 2019 to 2021.