Top players, teams with cap space, extension-eligible rookies
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The NBA’s attention now turns to the offseason and free agency with a few notable names at the top of an otherwise lackluster class of impactful free agent players. What could be of note is teams trying to get below salary cap restrictions set forth in the new collective bargaining agreement. Here’s what you need to know about NBA free agency.
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When does NBA free agency begin?
Free agency opens at 6 p.m. ET Friday.
What is the 2023-24 NBA salary cap?
The NBA’s most recent projections peg the salary cap for the 2023-24 season at $136 million and the luxury tax at $165 million, according to ESPN’s Tim Bontemps. That sets the dreaded second apron around $182.5 million. Teams exceeding that figure are restricted from certain roster-building machinations under the league’s new collective bargaining agreement. Teams spending beyond the second apron reportedly lose salary-matching flexibility in trades, the taxpayer mid-level exception ($5 million) and the ability to sign players on the buyout market. The penalties become more punitive in years to come. Beginning in 2024, teams crossing that threshold reportedly cannot trade cash, aggregate salaries in deals or swap first-round draft picks seven years out. Picks for repeaters in 2025 reportedly will drop to the end of the first round.
The second apron is as close to a hard cap as the NBA has ever come. Currently, the Golden State Warriors, Los Angeles Clippers, Phoenix Suns, Miami Heat and Milwaukee Bucks are all projected to exceed that number, assuming those five teams retain most of the players currently in their rotations.
How much will players get paid this summer?
The starting salary for a …
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35% max contract (10+ years of service): $47.6 million
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30% max contract (7-9 years of service): $40.8 million
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25% max contract (0-6 years of service): $34 million
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Non-taxpayer mid-level exception: $12.4 million
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Room mid-level exception: $7.7 million
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Taxpayer mid-level exception: $5 million
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Bi-annual exception: $4.5 million
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Veteran minimum…
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