As first reported by The Athletic’s Shams Charania, salary cap figures for the upcoming 2023-24 NBA season will be slightly higher than estimated.
Updated financial figures for the 2023-24 NBA season nears the 10 percent maximum increase, league informed teams today:— Shams Charania (@ShamsCharania) June 21, 2023
- $136 million salary cap, $2M higher than prior projection
- $165 million luxury tax level, $3M higher than prior https://t.co/udaRDUBXRK
With the new CBA placing many additional restrictions on teams in the tax level, having more room to operate could prove beneficial for the Philadelphia 76ers. The team’s cap sheet is very much up in the air, hinging primarily on James Harden’s decision to re-sign with the club or head elsewhere in free agency. Whether Daryl Morey finds a trade involving Tobias Harris and his $39M expiring contract has always been a much-discussed topic this offseason.
Regardless of what occurs with those two big-money guys, the Sixers have a bunch of smaller free agency decisions to make as well, involving Paul Reed, Georges Niang, Jalen McDaniels, and Shake Milton. Although Shake is reportedly not in the team’s plans as he goes off in search of somewhere with more on-court opportunity, reports have Philadelphia desiring to return Reed, Niang, and McDaniels back into the fold, if the price is right. Depending on what happens with Harden and Harris, a couple extra million to work below an apron might give the team the ability to bring back an extra role player, by virtue of either simply having the necessary space or having a little extra room to match a competing offer.
In other relevant news, albeit not to the team’s on-court product, Joel Embiid gets a little bit more money with this cap announcement. His supermax contract kicks in this season, which is tied to the cap, ergo, more money for Joel.
The big winners from the cap and tax increasing— Bobby Marks (@BobbyMarks42) June 21, 2023
Super max contracts
Nikola Jokic: $272M to $276M
Joel Embiid: $210M to $213M
Zion, Ja and Darius Garland: $194M to $197M
A team like Golden St. saved $20M
Remembering all of Joel’s charitable efforts and his offer to pay arena workers out of his own pocket during the COVID shutdown, I’m happy to see him get a little more change in his purse.
As for the Sixers, Daryl, you have some more room to operate now. Make it count.