George McGinnis had an estimated net worth ranging from $2 million to $5 million before his passing.
Considered one of the great players of his generation, McGinnis earned a significant amount of money through contracts, signing bonuses, and incentives.
George McGinnis, a former American professional basketball player, achieved considerable success in the National Basketball Association (NBA) throughout the 1970s.
After a stint playing college basketball for the Indiana Hoosiers, where he garnered third-team All-American honors in 1971, McGinnis embarked on his professional career in the ABA with the Indiana Pacers.
He played 11 seasons in the American Basketball Association (ABA) and the National Basketball Association (NBA).
McGinnis consistently earned All-Star selections and became renowned for his scoring abilities.
Recognizing his accomplishments, he was inducted into the Naismith Memorial Basketball Hall of Fame in 2017.
George Mcginnis Net Worth Before Death
Before his passing in 2023, George McGinnis had an estimated net worth ranging from $2 million to $5 million.
His financial success was from lucrative NBA contracts, incentives, and endorsement deals, significantly contributing to his accumulated wealth.
Upon joining the Pacers, McGinnis inked an initial three-year contract valued at $50,000 annually.
This agreement also included a $45,000 signing bonus and a $20,000 stipend for acquiring multiple cars.
Subsequently, McGinnis entered into a two-year contract with an $85,000 buyout clause. The Philadelphia 76ers exercised this clause following the conclusion of the 1974–75 season.
In 1975, McGinnis sought to negotiate with a team of his preference, leading to an initial signing of a six-year, $2.4 million contract with the New York Knicks.
However, NBA Commissioner Larry O’Brien voided the deal and penalized the Knicks.
Consequently, McGinnis opted for a revised six-year, $3.2 million contract with the 76ers.
This agreement included clauses such as no‐cut, no‐trade, and no-option, ensuring stability and security for McGinnis.
Moreover, his salary was guaranteed against any injury, whether on or off the basketball court.
Messages of Tribute Flow In for McGinnis
Pacers Sports & Entertainment, led by Pacers owner Herbert Simon and the Simon Family, bid a farewell to George McGinnis, marking a touching tribute to the basketball luminary.
“From his all-state high school days to his time as an IU All-American and, of course, to his legendary ABA championship runs with the Pacers, George McGinnis shaped so many of the fondest basketball memories for generations of Hoosiers,” said a statement from the Simon Family and Pacers Sports & Entertainment.
In expressing condolences, Pacers Sports & Entertainment acknowledged the profound loss and committed to keeping George and his family in their thoughts and prayers.
Tributes poured in from basketball figures, including Indiana Hoosiers coach Mike Woodson, who, deeply moved by McGinnis’s passing, underscored the basketball icon’s significance not just to ISU and Indiana but to the entire basketball community.
Pacers announcer Pat Boylan attributed McGinnis with a pivotal role in preserving the basketball franchise, ensuring its survival.
Boylan paid tribute to McGinnis’s efforts, emphasizing that the Pacers owe much of their continued existence to this great basketball player, whose contributions were rightfully recognized with his induction into the Naismith Hall of Fame in 2017.
