What is 'Liability' A liability is a company's financial debt or obligations that arise during the course of its business operations. Liabilities are settled over time through the transfer of economic benefits including money, goods or services.
The Minimum Annual Salary for an NBA player varies from year to year and depends on how long they have been playing in the NBA. The minimum for a 10 year veteran is far different from the minimum salary for a rookie. The minimum rookie salary in the 2010 - 2011 season is set at $473,604 USD.
According the NBAâs collective bargaining agreement the absolute lowest contract an NBA player can have is a one-year $507,336 rookie minimum.But thatâs the NBA, and comparing any pro basketball league to the NBA is like comparing any military organization the USAâs trillion dollar army operation.ccording the NBAâs collective bargaining agreement the absolute lowest contract an NBA player can have is a one-year $507,336 rookie minimum.