Dennis Schroder's Decision To Reject An $84 Million Lakers Extension Could Be The Worst Financial Decision Of All-Time

Let's just preface this by saying that this could well go down as one of the worst financial decisions ever seen in sport.

But then again, it's not all about money, right?

Dennis Schroder's decision to reject a $84million (AU$114million) extension with the Los Angeles Lakers has backfired massively.

After snubbing the mega-money move to stay in LA back back in March, just a matter of months later and the 27-year-old has now signed a one-year, $5.9million (AU$8million) deal with the Boston Celtics.

To put that in perspective, he's making almost five times less in a year than what he would have earned if he signed on the dotted line with the Lakers.

It's understood Schroder, who averaged around 15 points and 6 assists per game last season, wanted $120million (AU$164million) to stay put in Los Angeles.

Well, it seems his estimations were well, well off.

Either Schroder is being poorly advised by someone in the background, or he rates himself way higher than what potential suitors do.

But on top of the financial implications of his decision, Schroder could also miss out on his best chance of winning a coveted NBA championship after the Lakers bolstered their star-studded squad with the addition of Russell Westbrook.

shannon sharpe

@ShannonSharpe

·Follow

Dennis Schroder, turns dwn 4yrs 84 mil guaranteed from the Lakers only to accept 1yr 5.9 mil from Celtics. He should fire his agent or himself, but someone must go. Talk about fumbling a bag. 🤦🏾‍♂️🤦🏾‍♂️🤦🏾‍♂️

48.7K

Reply

Copy link

Read 1.2K replies

PA

Even when the free agency period opened at the beginning of August, teams weren't exactly queuing up to pinch Schroder.

"I think he's in a state of shock because of what he's done," a source told the Boston Herald's Mark Murphy about the lack of interest Schroder was receiving.

But one team that did seem keen on signing the German-born guard was the Boston Celtics.

The cut-price deal means Schroder will have to settle for a salary far smaller than what he was hoping for just a matter of months ago.

And while his initial decision to decline a dream offer from the Lakers is one he might be regretting, it's not all bad news for him as he's still in the prime of his career in a team that has aspirations of winning a championship ring.

Topics: Basketball, NBA, Los Angeles Lakers, Australia

Max Sherry

Max Sherry is a journalist for SPORTbible Australia. After migrating Down Under from London as a teenager, he instantly fell in love with Aussie sport and its culture. From NRL to AFL, cricket to rugby — you name it, Max watches it (with a beer in hand, of course). During his time at Fox Sports, he worked in the football department covering the Premier League, A-League, Socceroos and Matildas. Born a stone's throw away from West Ham's training ground, Max is obviously a die-hard Liverpool fan.

@maxysherry