Previous Team: Seattle Supersonics
New Team: New York Knicks
Contract: 5 years, $30 million
Shock Value: 7

The Knicks have offered some pretty bad contracts in their history but this one is most shocking. There was nothing to justify James getting $30 million. He looked like a solid big man for less than two weeks in the 2004 NBA Playoffs but other than that, he showed absolutely nothing. He was a guy who averaged less than six points per game in every season of his career prior to the deal and would finish averaging a whopping 4.3 points per game. The Knicks desperately needed a center but this made no sense.