Exactly ten years have passed since Mike James decided not to extend his contract with Baskonia, leaving instead for Panathinaikos at a time when the EuroLeague market looked very different.
Most importantly, it was far less lucrative. Back then, he was earning €1 million per season, which was a significant salary at the time but far below today’s standards in European basketball. That financial reality was one of the reasons Baskonia failed to keep him.
Baskonia retained his Liga Endesa rights in case he ever wanted to return to Spain, which is a specific rule in Spanish basketball. Once a player has played for a club in Spain, that team retains certain rights to the player. If he wants to join another club in the same league, compensation must be paid.
There is also the possibility that a player receives an offer from another Spanish team, but the club holding his rights can match that offer. Similar to the NBA’s restricted free agency system, if the original club matches the offer, the player automatically remains with that team. Because of that, Baskonia could still complicate Barcelona‘s pursuit of Mike James if it chooses to do so.
Barcelona wants to sign the former Baskonia guard, and to remove the Vitoria-based club’s priority rights, it has two options: negotiate directly with Baskonia and pay compensation to release those rights, or agree on a contract with the player and wait to see whether the club holding his Liga Endesa rights is willing or able to match the offer. According to Spanish media, the Catalan club has chosen the second option.
It is easier for Barcelona to offer Mike James a contract because they know Baskonia is unlikely to match the proposed deal and may not even want to, although the club will probably regret missing out on a compensation fee.
According to Spanish newspaper El Correo, Barcelona has offered Mike James a two-year contract worth a total net salary of €3.2 million.
His potential arrival was originally the idea of Xavi Pascual, the coach who worked with him at Panathinaikos and with whom he maintains a strong personal relationship.
Despite Pascual’s departure and changes within the club’s structure, signing the EuroLeague’s all-time leading scorer remains a top priority for the beginning of a new project. His annual salary at Barcelona would be approximately €1.6 million, almost half of what he earned with Monaco.
Life in the Principality was financially favorable, as there is no personal income tax in Monaco. James has been earning around €3 million per season and remains under contract until 2027, but he has already announced that he is leaving Monaco. That matter has been resolved, and he has already said goodbye to his former club.
The veteran guard won two French LNB Pro A titles and two French Cups with Monaco, while also being named the EuroLeague MVP in 2024. His greatest achievement with the club was reaching the EuroLeague Final, while he was also selected to the All-EuroLeague First Team in both 2022 and 2024.
