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NBA plans raises in salary cap and taxes in 2023-24

NEW YORK (AP) — The NBA told its clubs Friday that it expects a significant raise in the salary cap and "tax" level in the 2023-24 season.Based on


NEW YORK (AP) — The NBA told its clubs Friday that it expects a significant raise in the salary cap and “tax” level in the 2023-24 season.

Based on current projections, the cap could be raised 8.4% and the tax level could increase 7.8% compared to this campaign.

Both figures would set records, the $134 million salary cap for 2023-24 and the $162 million tax level. Both are $1 million more than the most recent projections, made by the league in June.

The 2022-23 campaign, which is about to start, has a cap of $123.655 million and a tax bracket of $150.267 million.

Also on Friday, the league told teams that total luxury tax payments for next season would be about $660 million. Half of that amount would finance revenue sharing and the other half would be distributed equally — about $17 million — among teams that would not pay the tax.

But that number can fluctuate long before a final calculation is made at the end of the regular season.

Practice camps in the NBA open later this month. The regular season begins on October 18.