Former NBPA Head Tamika Tremaglio Earned $3.1 Million in 2023
Tamika Tremaglio, who stepped down in November as head of the National Basketball Players Association, earned $3.1 million in salary last year, according to the union’s annual report filed with the U.S. Department of Labor covering the fiscal year ending Sept. 30. She also received $152,889 in “disbursements for official business.”
Tremaglio took over as executive director of the NBPA on Jan. 10, 2022 and earned $1.71 million during her first nine months on the job, according to the union’s previous LM2 filing. Her pay bump in 2023 came as the union and league negotiated a new collective bargaining agreement. The deal reached in April mostly maintained the status quo that has helped franchise values soar to an average of $4 billion and more than 150 players set to earn at least $10 million this season, led by Stephen Curry at $51.9 million.
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Andre Iguodala, who had a 19-year NBA career, replaced Tremaglio and is expected to fill the role on a temporary basis.
Other top earners at the union included THINK450 president Que Gaskins ($1.18 million), CFO Gary Arrick ($888,920), chief legal officer Clarence Nesbitt ($845,000), chief player engagement officer Chrysa Chin ($753,250), general counsel Ron Klempner ($743,750) and COO Irumire Okhumale ($722,667). Michele Roberts, who Tremaglio replaced, was paid $461,538 in deferred compensation during the fiscal year.
The union’s total liabilities rose 78% during 2022. Most of the increase was tied to the licensing money withheld from players, which is common ahead of CBA negotiations as unions build a “war chest” in case of a lockout. The money is then typically distributed to players after a deal is reached. Yet, liabilities increased again in 2023 by 14% to $248 million. Money owed to players remains the bulk of the liabilities and rose from $199.9 million to $222.3 million. With liabilities higher and total assets down 16% to $359 million, net assets fell nearly 50% to $111 million.
The union declined to comment on the report.
While money owed to players increased during the fiscal year, almost every player did receive a payment of $425,600 that was categorized as “Rebate of Excess Dues 21-22.”
The filing also indicated that the union exchanged the equity it received in Fanatics in 2021 into two new Fanatics entities: Fanatics Collectibles Holdco, Inc. and Fanatics Holdings, Inc. The union said the value is currently “not determinable.”
With reporting from Daniel Libit.
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