Former Porter Ridge High basketball star Caleb Homesley made history over the weekend by becoming the first athlete from Union County to sign an NBA contract.
Homesley, who was not selected in last Wednesday’s NBA Draft, signed an Exhibit 10 contract with the Washington Wizards. The 6-foot-6, 205-pound wing now has a chance to compete for a roster spot.
Exhibit 10 contracts were introduced in the NBA’s last collective bargaining agreement (CBA) and are one-year deals worth the league minimum salary. The non-guaranteed contract can come with a bonus ranging between $5,00 and $50,000, according to hoopsrumors.com.
Homesley, like other players who sign Exhibit 10 contracts, will likely spend most of his time on Washington’s G League affiliate, the Capital City Go-Go. The optional bonuses included in the Exhibit 10 contracts are only triggered if a player is waived by the NBA team, but then signs and spends at least 60 days with the franchise’s G League team.
An Exhibit 10 deal can also be converted into a two-way contract, guaranteed deals for players who spend most of their time in the G League but can spend up to 45 days in the NBA. According to the G League’s website, two-way players are paid a corresponding daily amount based on the number of days they play in each league.
According to the most recent available data — from the 2018-19 season — players who sign G League contracts earn a base salary of $7,000 a month for the five-month regular season, so a total of $35,000 would be made if a player spends the whole season in the G League.
Players can also earn additional money if they are called up to the NBA. In 2017-18, according to the league, about one-fourth of players under G League contracts earned an average of $44,000 in NBA roster bonuses.
The projected minimum NBA salary for a rookie in 2020-21 is $898,310, or just over $4,000 a day during the five-month regular season. If Homesley eventually signs a two-way deal and spends a full 45 days in the NBA, he could stand to make over $180,000 on top of the money he’d make with the G League team.
Homesley, 23, signed with Washington after spending the past five years at Liberty. As a redshirt senior in 2019-20, Homesley was named the Atlantic Sun Player of the Year after averaging 15.3 points, 5.7 rebounds and 2.4 assists per game.
The former Porter Ridge star had his final year at Liberty cut short because of the COVID-19 pandemic. Liberty was 27-4 and on the verge of another NCAA Tournament appearance before the season was canceled. He finished his career at Liberty with 1,539 points.