Early Projections For 2023-24 NBA Salary Cap Released
It is never too early to start looking ahead in the NBA and while the 2022-23 season has yet to begin, salary cap and tax level numbers are already being projected for the 2023-24 season.
According to The Athletic’s Shams Charania, the NBA has begun to inform teams that the 2023-24 salary cap is currently projected to be around $134 million with a $162 million tax level.
Not only are these numbers $1 million higher than previous projections for the future, but these numbers are great increases from the 2022-23 season. Should these projections hold, the salary cap for the 2023-24 season will increase by about $10.4 million compared to this year.
The increase in revenue over the years and recovery the league has made from the pandemic has been remarkable and these cap projections for the 2023-24 season could have great impacts on what happens in free agency following this upcoming season.
James Harden, Kyrie Irving, Russell Westbrook, Khris Middleton, Kristaps Porzingis, D’Angelo Russell and Andrew Wiggins are all big names that could hit the free agent market following this upcoming 2022-23 season and with the projected increase to the salary cap, teams could wind up being more competitive to sign these All-Star talents.
This offseason, a total of over $1.5 billion was given out in new contracts and many have stated that this free agent class was weaker than year’s past.
With more money coming into the league and teams having more and more money to spend every offseason in free agency, we should expect the amount of guaranteed money spent in free agency to continue increasing.
