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NBA FREE AGENCY

NBA free agency 2023: What is the salary cap for the 2023-24 NBA season?

As we approach the upcoming season, the construction of team rosters is set to take another significant stride forward.

Andy Restrepo
Andy Restrepoandyrestrepo10
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As we approach the upcoming season, the construction of team rosters is set to take another significant stride forward.
Wendell CruzUSA TODAY Sports via Reuters Con

The offseason is rapidly approaching its next phase on the calendar. In a highly anticipated move, the San Antonio Spurs have made their selection for the No. 1 pick, and it’s none other than Victor Wembanyama. With this exciting addition to their roster, the Spurs are sure to make waves in the upcoming season. But they weren’t the only team looking to add some fresh talent to their lineup, as 57 more selections were made throughout the draft.

As we approach the upcoming season, the construction of team rosters is set to take another significant stride forward. Teams will be able to sign seasoned players during the free agency period, giving them a shot at improving their chances of clinching the championship.

As the NBA offseason heats up, the buzz around the league centers on the marquee names going into the market as unrestricted free agents. Among them are Kyrie Irving, Khris Middleton, and Draymond Green, all of whom are sure to attract significant attention from teams looking to bolster their rosters for the upcoming season.

What is the salary cap for the NBA 2023-24 season?

As per ESPN, the NBA has projected that the league salary cap for the 2023-24 season will be a whopping $136 million, with the luxury tax expected to reach a staggering $165 million. In the past 2022-23 season, teams had to work within the confines of a $123.655 million salary cap.

According to the latest projections from Spotrac, these five teams are poised to have the most usable cap space at their disposal as of June 25.

  • The Houston Rockets have a total payroll of $59,783,491.
  • The Utah Jazz have allocated a whopping $43,928,675 towards their team.
  • The San Antonio Spurs have a whopping $37,477,403 in their budget.
  • The Indiana Pacers have a total salary of $32,152,523.
  • The Detroit Pistons have $27,819,304, making them a formidable force in the NBA.

In addition, the following teams have the lowest projected useful cap space as of June 25, heading into free agency.

  • The Portland Trail Blazers currently have a negative balance of $77,838,630.
  • The Phoenix Suns have a negative balance of $70,553,928.
  • The Dallas Mavericks have a negative balance of $67,581,788.
  • The LA Clippers have a negative balance of $67,535,209.
  • The Philadelphia 76ers have a negative balance of $67,412,809.