The NBA issued a new salary cap projection for the 2023/24 season on Friday, increasing its estimate for next year’s cap to $134MM.
There are a number of salary figures directly connected to the cap, including the league-wide maximum and minimum salaries, the mid-level exception, and the bi-annual exception. Those figures increase or decrease each year by the same percentage the cap does.
The NBA’s new cap projection meant we had a series of ’23/24 projections of our own in need of updating. Here are the links to those updated numbers:
Maximum salary projections for 2023/24
These are the projected earnings for players who signed maximum salary extensions that will go into effect in 2023, including Ja Morant, Zion Williamson, Nikola Jokic, and Joel Embiid, among others. Jokic’s record-setting super-max extension, previously projected to be worth just shy of $270MM over five years, is now on track to be worth $272MM+.
Minimum salary projections for 2023/24
These are the minimum salaries that a player who signs a standard contract in 2023/24 will be eligible to earn. Next year’s rookie minimum is currently projected to exceed $1.1MM, while the minimum salary for a veteran with at least 10 years of NBA experience will surpass $3MM for the first time in league history.
Mid-level, bi-annual projections for 2023/24
These projections cover the various mid-level exceptions available to teams, including the full (non-taxpayer) mid-level exception, the taxpayer version of the MLE, and the “room” exception for teams that use cap space. A player who signs a four-year contract worth the full mid-level next summer would be in line to receive nearly $49MM over the life of the deal.
The bi-annual exception is also included in these projections — it projects to be worth a record $4,448,000 in ’23/24.
These projections can be found anytime on the right-hand sidebar of our desktop site under “Hoops Rumors Features” or on the “Features” page in our mobile menu. They’ll be updated again later this season if the NBA issues another new cap projection.