Jayson Tatum, NBA champion, has a new $314 million contract but he won't spend any of it: "I remember what it's like to struggle."

Despite recently signing the most lucrative contract in NBA history worth $314 million, the reigning champion Jayson Tatum is not planning to splurge on anything.

Last year, the 26-year-old revealed to Graham Bensinger that he has a longstanding agreement with his mother, Brandy Cole, who manages his finances, that he will only spend the money he earns from endorsements.

"My accountant and I agreed on the deal before I was drafted by the Boston Celtics in 2017. We didn't know I'd make as much money off the court as I did."

In 2024, the All-Star earned an estimated $13 million in endorsements from sponsors such as Nike, Gatorade, Google, and Subway, as reported by Forbes.

The mother-son duo is cautious about safeguarding his basketball income due to the financial instability they faced prior to Tatum's entry into the NBA.

"I struggled financially for most of my life, lacking an investment account, checking account, and credit card. I recall the difficulties of not having enough money."

"Cole stated in the interview, "We're not that far removed from living check to check. He knows what he never wants to go back to.""

Cole handles the wire transfers for Tatum's expensive purchases. She understands her son's taste for luxury items, such as watches, and recognizes that she cannot deny him anything he wants to buy. However, when she sees what he spends his money on, she can't help but feel a sense of disapproval.

"When he tells me the price, I ask, 'What does this watch do?'" Cole said. "And then he responds with his little running joke, 'But it's not the Celtic money!'"

Still, Cole tries to keep her son in line when she can.

"I go on trips with my friends, often to LA, Vegas or Miami. In the morning, she'll call and ask, 'Who is Mr. Jones and why did you give him $12,000?'"

Enjoying his wealth is part of what makes life enjoyable for Tatum, who has learned to spend in moderation. He finds it helpful to remember what it was like to not have much money. As long as he adheres to the terms of the deal he made when he was 19, he allows himself some flexibility to indulge in fun activities.

""I must spend all that money, it's necessary for me to enjoy it," he stated."

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