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Players Eligible For In-Season Veteran Extensions In 2023/24

November 8th 2023 at 10:46am CST by Luke Adams

As we explain in our glossary entry on veteran contract extensions, rookie scale extensions have historically been the most common form of contract extension in the NBA. However, the league’s latest Collective Bargaining Agreement loosened the rules on eligibility for veteran extensions and made them more financially advantageous, especially for players who don’t expect mega-deals.

As a result, we’ve seen a substantial bump in veteran contract extensions in recent seasons. During the 2021/22 league year, 21 players signed them, and that total jumped to 23 players in 2022/23. Many more have already followed suit in ’23/24 and others will join that list before June 30, 2024.

[RELATED: 2023/24 NBA Contract Extension Tracker]

Certain extension-eligible players, such as OG Anunoby, may prefer to wait until free agency to sign a new contract, since the biggest raise Anunoby can receive on an extension would be far less than the maximum contract he’d be eligible to earn on the open market.

The maximum starting salary a player like Anunoby can receive in a veteran extension is up to 140% of his current salary. A player on a more modest contract can receive a maximum starting salary worth up to 140% of the NBA’s estimated average salary.

For this season, 140% of the estimated average salary would work out to a $16,741,200 salary in the first year of a contract extension. A player who signs an extension that fits that bill could get up to four years and approximately $75MM. Zach Collins is an example of a player who has already signed this type of veteran extension, though his deal was for two years instead of the maximum four.

Now that the regular season is underway, the group of veterans eligible for contract extensions has shrunk, since players with more than one year left on their contracts aren’t permitted to sign an in-season extension. But there are still a number of veterans in the final year of their respective contracts who remain eligible for extensions right up until the last day of the current league year (June 30).

Listed below are the players who meet the criteria for a veteran extension. Players who were recently traded can be extended, but they have to wait for six months after the trade to sign a contract longer than three total years (including the current season) with a raise exceeding 5%. If a player below is noted as having “limited” eligibility until a certain date, that’s why.

Once a player regains his full extension eligibility, he becomes eligible to sign an extension of up to five total years (including the current season) with a 40% first-year raise (or 40% of the estimated average salary).

Additionally, extension-eligible players with a player or team option for 2024/25 would have to eliminate that option year as part of an extension agreement in order to meet the necessary criteria.

Here’s the full list of veterans currently eligible for contract extensions:

Atlanta Hawks

Boston Celtics

Brooklyn Nets

  • None

Charlotte Hornets

  • JT Thor
    • 2024/25 team option must be declined.

Chicago Bulls

Cleveland Cavaliers

  • None

Dallas Mavericks

  • None

Denver Nuggets

  • None

Detroit Pistons

Golden State Warriors

Houston Rockets

  • None

Indiana Pacers

Los Angeles Clippers

Los Angeles Lakers

  • None

Memphis Grizzlies

Miami Heat

Milwaukee Bucks

  • None

Minnesota Timberwolves

New Orleans Pelicans

New York Knicks

  • OG Anunoby
    • Limited eligibility until June 30.
    • 2024/25 player option must be declined.
  • Alec Burks
    • Limited eligibility.

Oklahoma City Thunder

Orlando Magic

Philadelphia 76ers

Phoenix Suns

Portland Trail Blazers

  • None

Sacramento Kings

  • None

San Antonio Spurs

Toronto Raptors

Utah Jazz

Washington Wizards

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