NEW YORK -- The NBA told its teams Friday that it still expects to see a significant increase in the salary cap and tax bracket in the 2023-24 seas
NEW YORK — The NBA told its teams Friday that it still expects to see a significant increase in the salary cap and tax bracket in the 2023-24 season.
Under current projections, both figures ($134 million salary cap, $162 million tax level) would set records and both are $1 million higher than the league’s most recent projections made in June. The figures represent an 8.4% cap increase and 7.8% tax level during the 2022-23 season.
The 2022-23 season has a salary cap of $123.655 million and a tax bracket of $150.267 million.
The league also told teams that total luxury tax payments for next season would be about $660 million, half of which would fund revenue sharing and the other half would be distributed equally, about $17 million. million each, to teams that are currently not projected. have to pay the tax.
But that fiscal number can, and almost certainly will, fluctuate wildly before a final calculation is made at the end of the regular season.
Training camps in the NBA begin later this month and the regular season begins on October 18.