"I earned every dollar of it"
Arenas was a tremendous point guard for much of the early-2000s. In fact, Agent Zero was told his performance with the Washington Wizards during that period helped the team stay afloat after it lost NBA legend Michael Jordan.
That’s what convinced owner Abe Pollin to offer him a $111 million, six-year contract in 2008.
"I get the call from Abe Pollin. And he says, 'Whatever you want, you did what you said you were gonna do. You got me out of my Jordan era, you turned this franchise around, and I owe you whatever you want,'" Arenas recalled on an episode of his own podcast, “No Chill with Gilbert Arenas.”
Although he only played for three years into that contract, which got extended, Arenas insisted he deserved the full payout. “I earned every dollar of it,” he said.
He compared athletes to employees and said the owners are paying for them based on their “potential” and the hard work they’re willing to do. "When we sit here and complain about people's money, remember someone's giving them that. It's a value to that person. You don't know what that person's done to get that ... It's not always about the numbers that you see."
This perspective offers some key lessons for ordinary workers.
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Make Money NowKnow your worth
As an employee, you don’t share in the upside potential of the company you work for. But, like Agent Zero, you should focus on minimizing risk, cementing long-term contracts and asking for what you’re worth.
Only 35% of women and 49% of men asked for a pay raise over the past year, according to a 2024 survey by LendingTree. That means most employees are simply too reluctant to ask for more money and better compensation.
Given the rising cost of living, this could be an expensive mistake. Take the time to do research on your industry and don’t be afraid to ask for a higher wage or switch careers. You might not get millions of dollars to sit around like Arenas, but you should get fair compensation and perhaps some perks or long-term benefits for the work you do and the potential you represent.
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