Rashard Lewis was a no brainer as far as most overpaid but Kobe surprised me being on this list. Kobe was a victim of being the highest paid player in the NBA and his below average shooting efficiency.
Amare I thought would make this list. Doesn't play D, not a great rebounder and he's not scoring like he did in his hey day. I wish we could move him.
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NBA Players Overpaid By Millions
Sports fans hold strong opinions about which pro basketball players deserve their massive salaries, and which ones don’t. One fan, however, has gone further than the average barstool commentator --- Southern Utah University economics professor David Berri.
Berri is co-author of the 2006 book “The Wages of Wins,” which determines which players are overpaid with a statistical method called "Wins Produced" that he and his co-authors developed.
According to Berri, NBA players are paid for high scoring, so the more points an athlete racks up, the more money he earns. Berri believes that this overlooks other factors that contribute to a victory, such as shots taken, turnovers, rebounds and fouls.
These and other elements are included in the “Wins Produced” algorithm.
“Wins in basketball are primarily about a team’s ability to get and keep possession of the ball and then turning those possessions into points,” Berri told CNBC.com in an e-mail. “In 2011-12, NBA teams paid $1.9 billion for 990 regular season wins. This means that the cost per win was $1.946 million. Given the cost of each win and knowing both how many victories each player produced and his salary allows us to see which players were overpaid.
1. Rashard Lewis
2. Kobe Bryant
Overpaid by: $19,693,258
Value of Wins: $5,551,235
Team: Los Angeles Lakers
Minutes Played: 2,232
Wins Produced: 2.85
Kobe Bryant is a basketball legend, and as such many people may bristle at his inclusion on this list. However, Berri contends that the player’s sterling reputation is something of a mirage. “The media says Kobe was one of the best players in the game in 2011-12,” he said “But the numbers tell a different story.”
According to Berri, Bryant’s scoring simply comes down to the fact that he takes a lot of shots. “But in contrast to past years, Kobe’s shooting efficiency was below average for a shooting guard, and inefficient shooting doesn’t produce wins,” he said. “However, if you take enough shots you can still score enough points to convince fans – and the media – that you are actually helping a team win.”
But doesn’t Bryant’s star power attract enough fans to help the team’s bottom line? No, according to Berri. “The study of gate revenue reveals that it is wins that drive revenue. Star power is far less important.”
3. Antawn Jamison
4. Amare Stoudemire
Overpaid by: $14,918,309
Value of Wins: $3,299,396
Team: New York Knicks
Minutes Played: 1,543
Wins Produced: 1.7
Amar’e Stoudemire’s professional career began in 2002 with the Phoenix Suns. During his eight years with the team, he suffered from a knee injury and a detached retina, then after joining the Knicks in 2010, he suffered injuries to his back and his hand.
According to Berri, all that damage adds up, and it’s had a negative impact on Stoudemire’s performance. “His shooting efficiency has declined,” he said “He also is below average on the boards. He still gets paid like a star, though.”
5. Chris Kaman
6. Mehmet Okur
7. Corey Maggette
8. Dirk Nowitzki
9. Deron Williams
10. Tyrus Thomas