10. New York Knicks pay 34-year-old Patrick Ewing $68 million
Patrick Ewing is a name that most New York Knicks fans wouldn’t expect to see on this list, right? The big man spent 15 seasons in New York, earned 11 All-Star appearances, and even led the Knicks to two NBA Finals appearances.
Well, why is he on the list?
Because the Knicks probably should’ve never signed him to a four-year, $68 million contract when he was 34 years old in 1997. However, hindsight is 20-20 in this situation.
New York had just ripped off a 57-win season that ultimately ended in a heartbreaking second-round exit at the hands of the Miami Heat, and Ewing earned his seventh All-NBA selection, being named to the second team.
There would be no fathomable reason not to pay the franchise legend after another competitive season — other than him being an aging seven-footer.
After inking his final deal with the Knicks, Ewing’s play began to decline. He never made another All-Star team, his statistics began to drop, and he missed a combined 68 games over the first two years of the contract.
He did help bring the Knicks one win away from an NBA title in 1999 but never got that close again.
The lucrative contract can be cited as the reason Ewing didn’t spend his entire career in orange and blue. In September 2000, the Knicks traded the veteran big man to the Seattle Supersonics as part of a massive four-team deal.