NBA Salary Cap Projected to Increase by Nearly $12 Million
According to ESPN, the NBA's salary cap for the 2022-23 season is expected to be roughly $123.6 million. This would be an increase of $11.6 million from the previous season.
Just three years ago, the cap was at $109.14 million. Five years ago, it was at $99 million.
The 10% cap increase is just the third time in the last ten years where it has increased by double digits. In 2015 the salary cap shot up 11% before skyrocketing by 34.49% the following season.
The Golden State Warriors are expected to have the highest team cap in NBA history with $209.43 million according to Spotrac.
Although the Phoenix Suns have yet to see that spending, they did rank at the bottom of the NBA in salary spent in 2012 with $53.2 million.
With just nine players signed to contracts, the Suns already find themselves with a total of $129 million. Devin Booker ($33.83 million), Chris Paul ($28.4 million) and Mikal Bridges ($21 million) are Phoenix's highest earners for the upcoming season.
Although we don't know too much information about their plans in free agency, HoopsHype has already reported that Phoenix won't place a tender on guard Aaron Holiday, which will make him an unrestricted free agent.
The Suns could add to that total by signing center Deandre Ayton to a max contract, although numerous reports and rumors suggest the team isn't willing to have him on those figures.
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