Salary Cap, Tax Line Set For 2021/22 NBA Season
While it flew under the radar amidst a flurry of contract agreements during the first few hours of 2021’s free agent period, the NBA has officially set the salary cap for its 2021/22 season. As expected, the cap increased by right around 3% on last season’s $109,140,000 figure. Here are the details, courtesy of a league press release:
- Salary cap: $112,414,000
- Luxury tax line: $136,606,000
- Salary floor: $101,173,000
- Non-taxpayer mid-level exception: $9,536,000
- Taxpayer mid-level exception: $5,890,000
- Room exception: $4,910,000
- Maximum salaries:
- 6 years or fewer: $28,103,500
- 7-9 years: $33,724,200
- 10+ years: $39,344,900
- Early Bird exception: $10,384,500
- Estimated average salary: $10,335,000
- Tax apron: $143,002,000
The tax apron for the 2021/22 league year will be the hard cap for any team that acquires a player via sign-and-trade, signs a player using the non-taxpayer mid-level exception, or signs a player using a bi-annual exception.
[RELATED: Maximum Salaries For 2021/22]
[RELATED: Minimum Salaries For 2021/22]
[RELATED: Values Of 2021/22 Mid-Level, Bi-Annual Exceptions]
While the 2021/22 figures are essentially what we expected, the NBA has adjusted its 2022/23 projections and is now forecasting a $119MM cap and a $145MM tax line, according to Shams Charania of The Athletic (Twitter link).
The most recent projections for ’22/23, from last November, were a $115.7MM cap and a $140MM tax line, so that’s a significant increase and suggests that the NBA’s revenue projections are more positive than initially anticipated.
Pelicans To Acquire Devonte’ Graham Via Sign-And-Trade
The Pelicans are acquiring restricted free agent point guard Devonte’ Graham in a sign-and-trade deal with the Hornets, reports Shams Charania of The Athletic (Twitter link). Graham will be signing a four-year, $47MM contract with New Orleans, his agents Ty Sullivan and Austin Brown tell Adrian Wojnarowski of ESPN (Twitter link).
According to Charania, Charlotte is getting a first-round pick back in the deal. Wojnarowski reports (via Twitter) that it’ll be the Pelicans’ own 2022 first-rounder, with top-14 protection.
Having approached free agency hoping to land a top-tier point guard such as Chris Paul or Kyle Lowry, the Pelicans were forced to pivot as those All-Stars committed to other teams. Instead, the team will end up with Tomas Satoransky (via the Lonzo Ball sign-and-trade with Chicago) and Graham, who emerged as a reliable start during the last two years in Charlotte.
Graham isn’t an especially efficient scorer, having made just 37.7% of his field goal attempts in 2020/21. However, that’s primarily a result of his struggles scoring inside the arc — his three-point mark was a very respectable 37.5%. In addition to his ability to make threes, Graham is an above-average play-maker (6.5 APG over the last two seasons) and a respectable defender.
Moving on from Graham shouldn’t be a major blow to the Hornets, since they still have a solid backcourt that features LaMelo Ball, Terry Rozier, and lottery pick James Bouknight. Charlotte could also now have an extra pick in the first round of the 2022 draft, and with Graham no longer on the books, the club will create a little extra cap flexibility in both the short- and long-term.
Hawks Sign Gorgui Dieng To One-Year Deal
AUGUST 9: A week after agreeing to sign him, the Hawks have now finalized Dieng’s deal, the team announced today in a press release.
“With the signing of Gorgui, we’ve added more size and depth to our frontcourt rotation. He’s an experienced big with length who can space the floor and defend,” president of basketball operations Travis Schlenk said in a statement.
It looks like Dieng’s contract will use part of Atlanta’s mid-level exception.
AUGUST 2: The Hawks and free agent big man Gorgui Dieng have agreed to terms on a one-year, $4MM contract, reports Jon Krawczynski of The Athletic (Twitter link).
Dieng, 31, has bounced around the league in recent years, playing for Minnesota, Memphis, and San Antonio since the start of the 2019/20 season. Last season, he averaged 6.8 PPG and 3.7 RPG in 38 games (14.5 MPG) for the Grizzlies and Spurs.
While he wasn’t exactly a bargain on his previous four-year, $63MM contract, Dieng should be a much better value at $4MM. He’ll be a nice fit in the Hawks’ frontcourt behind starting center Clint Capela and should see regular minutes while Onyeka Okongwu recovers from shoulder surgery, if not beyond that.
Given the reported terms on Dieng’s deal, the Hawks could either be using a portion of the mid-level exception or the bi-annual exception to complete the signing. The BAE is worth about $3.7MM this season.
Pistons Re-Sign Cory Joseph
AUGUST 10: The Pistons have officially re-signed Joseph, according to NBA.com’s transactions log.
AUGUST 2: Just days after placing him on waivers, the Pistons have agreed to terms with point guard Cory Joseph on a new contract, according to Chris Haynes of Yahoo Sports.
Klutch Sports CEO Rich Paul tells Haynes that Joseph’s new deal with Detroit will be worth $10MM over two years. The deal includes a second-year player option, Haynes adds (via Twitter).
Joseph, who will turn 30 later this month, began last season with Sacramento and was sent to Detroit at the March trade deadline. He played very well with the Pistons down the stretch, averaging 12.0 PPG, 5.5 APG, and 3.2 RPG on .506/.368/.878 shooting in 19 games (26.4 MPG).
Joseph was under contract for 2021/22, but his $12.6MM salary was only partially guaranteed for $2.4MM. By waiving him and re-signing him to a new deal, the Pistons avoided guaranteeing that full $12.6MM and will get him back at a more affordable rate. He’ll serve as a veteran mentor for first overall pick Cade Cunningham.
The Pistons, who project to be a cap-space team this offseason, may end up signing Joseph with the room exception, since it will be worth right around $10MM over two years.
Mavericks Sign Reggie Bullock
AUGUST 6: The Mavericks have officially signed Bullock, the team announced in a press release. There had been whispers that the Knicks and Mavs might explore a sign-and-trade arrangement, but Dallas ended up signing the veteran wing outright.
AUGUST 2: The Mavericks and free agent swingman Reggie Bullock have agree to a deal, sources tell Tim MacMahon of ESPN (Twitter link). Marc Stein (Twitter link) first reported that the two sides were nearing an agreement, while Jordan Schultz of ESPN (Twitter link) says it’ll be a three-year contract.
Agent David Bauman tells Shams Charania of The Athletic (Twitter link) that Bullock’s three-year deal with Dallas will be worth $30.5MM. Based on that value, it sounds like the Mavs will give Bullock their full mid-level exception if they operate over the cap.
The Mavs appear to be prioritizing adding shooting around star Luka Doncic, and Bullock certainly fits that bill. The 30-year-old is a career 39.2% shooter from beyond the arc and knocked down 41.0% of his three-point attempts for the Knicks this past season.
After an injury-plagued 2019/20 campaign, the former UNC standout bounced back with one of the best years of his career, averaging 10.9 PPG and 3.4 RPG while starting 64 games and averaging 30.0 minutes a night for the East’s No. 4 seed.
Dallas has been busy on the first day of free agency, having also agreed to terms with Tim Hardaway Jr., Boban Marjanovic, and Sterling Brown.
Bucks Re-Sign Bobby Portis
AUGUST 6: The Bucks have officially re-signed Portis, the team announced today in a press release.
AUGUST 2: The Bucks have agreed to a two-year, $9MM contract with free agent forward Bobby Portis, reports Shams Charania of The Athletic (Twitter link). The deal will include a second-year player option, according to Charania.
It’s a team-friendly rate for Portis, who played an important role in Milwaukee’s championship run this summer. As Charania explains (Twitter links), Portis turned down potential deals from the Mavericks and Heat in order to remain in Milwaukee because he appreciated the organization’s culture and winning environment and the way the community embraced him.
The Bucks were limited in their ability to offer Portis much more than what he’s getting, since they only held his Non-Bird rights. That meant the team couldn’t give him more than a 20% raise on last year’s $3.623MM salary without dipping into its mid-level exception.
It appears Milwaukee will indeed use its Non-Bird rights to bring back Portis — his two-year deal should start at about $4.35MM. If he opts out in 2022, the Bucks would have his Early Bird rights and could sign him to a more lucrative contract.
Among qualified players, only two had a higher three-point percentage in 2020/21 than Portis’ 47.1% mark. He also contributed 11.4 PPG and 7.1 RPG in 66 games (20.8 MPG).
Pacers Re-Sign T.J. McConnell To Four-Year Deal
AUGUST 6: The Pacers have officially re-signed McConnell, announcing the transaction in a press release.
“We are very pleased to re-sign T.J. McConnell,” Pacers president of basketball operations Kevin Pritchard said in a statement. “This franchise and our fan base knows what T.J. brings to this team: leadership, tenacity and an insatiable desire to win. T.J. has arrived at this point in his career with hard work, patience and overcoming doubters. But he never doubted in himself. He was undrafted and it takes a special kind of player to not only overcome that obstacle, but to turn it into what will likely be a long NBA career. That is a testament to what kind of work ethic and competitive fire T.J. has.”
AUGUST 2: The Pacers and point guard T.J. McConnell have agreed to terms on a contract that will keep him in Indiana for the foreseeable future, reports J. Michael of The Indianapolis Star (Twitter link).
The deal will be worth $35MM over four seasons, according to Shams Charania of The Athletic (Twitter link). Michael adds that the final year will only be partially guaranteed (Twitter link).
McConnell averaged career highs in PPG (8.6), APG (6.6), RPG (3.7), and FG% (.559), among other categories, for the Pacers in 2020/21, appearing in 69 games and logging 26.0 MPG. His contributions also go beyond the box score, as he’s a heady player and a tough perimeter defender.
The 29-year-old had been expected to draw interest from teams in need of point guard depth, but there was always mutual interest between him and the Pacers.
Indiana had been considered more likely to re-sign McConnell than fellow free agent Doug McDermott, and that’s exactly what happened, as McDermott is San Antonio-bound.
Heat To Acquire Kyle Lowry, Re-Sign Duncan Robinson
The Heat will add Kyle Lowry in free agency via a sign-and-trade with the Raptors and will also re-sign Duncan Robinson, as Marc Stein reports (via Twitter). Both deals had been widely expected, and Lowry has confirmed on Twitter that he’s Miami-bound.
Lowry’s new three-year contract with the Heat will be worth approximately $90MM, according to ESPN’s Adrian Wojnarowski (Twitter link). All three years will be fully guaranteed, tweets Anthony Chiang of The Miami Herald.
Robinson, meanwhile, has agreed to a five-year, $90MM contract with Miami, his agent Jason Glushon tells Wojnarowski (Twitter link). The deal includes an early termination option after year four.
The Heat have been after Lowry since at least the trade deadline in March. While they were unable to land the six-time All-Star at the time, they’ll add him to the mix now, beating out other rumored suitors such as the Mavericks, Pelicans, and Sixers. The move will unite Lowry with his close friend Jimmy Butler, who is expected to sign a lucrative new contract extension of his own.
While a three-year, $90MM investment is a risk for a player who is entering his age-35 season, Lowry has championship experience and is an ideal fit for virtually any team due to his ability to handle the ball, knock down outside shots, and provide strong defense. He averaged 17.2 PPG, 7.3 APG, and 5.3 RPG on .436/.396/.875 in 46 games (34.8 MPG) in his final season as a Raptor.
While the exact terms of the sign-and-trade that will send Lowry to Miami haven’t been reported, the expectation is that the deal will include Goran Dragic and Precious Achiuwa, with the Raptors perhaps rerouting Dragic elsewhere.
As for Robinson, he’s a career 42.3% shooter from three-point range, which put him in line for a long-term deal in the range of $16-18MM per year — that’s what sharpshooters Joe Harris and Davis Bertans received in free agency a year ago and the 27-year-old Robinson is a little younger than both players.
The Heat still have the mid-level exception at their disposal as they look for additional rotation upgrades around Lowry, Robinson, Butler, and Bam Adebayo.
Pistons Sign Kelly Olynyk To Three-Year Deal
AUGUST 6: The Pistons have officially signed Olynyk, the team announced today in a press release.
AUGUST 2: The Pistons have agreed to a three-year deal with free agent big man Kelly Olynyk, agent Jeff Schwartz tells Adrian Wojnarowski of ESPN (Twitter link). The contract will be worth $37MM, Wojnarowski reports. It features a third-year team option, tweets James Edwards III of The Athletic.
The Pistons agreed to trade veteran big man Mason Plumlee to Charlotte in a salary-dump deal on draft night in order to open up the center position and more salary cap space, and Olynyk will be the beneficiary of the team’s newly-created roster and cap flexibility.
Olynyk, who was traded from the Heat to the Rockets prior to the March trade deadline, finished the 2020/21 season on an incredible roll, averaging 19.0 PPG, 8.4 RPG, and 4.1 APG on .545/.392/.844 shooting in 27 games (31.1 MPG) for Houston. That helped boost his stock ahead of free agency and earn him a deal worth more than the mid-level.
Olynyk will be joining an intriguing young Pistons core that includes Saddiq Bey, Isaiah Stewart, Killian Hayes, and this year’s No. 1 overall pick Cade Cunningham.
Olynyk can play either the four or the five, and his ability to stretch the floor should allow the Pistons to use him in lineups alongside Stewart.
Knicks Re-Sign Alec Burks, Nerlens Noel
AUGUST 17: The Knicks have now officially re-signed Burks as well, according to NBA.com’s transactions log.
AUGUST 10: The Knicks’ deal with Noel is official, per NBA.com’s transactions log. As noted last week, the three-year contract includes a team option for the 2023/24 season.
AUGUST 2: The Knicks have agreed to new deals with unrestricted free agents Alec Burks and Nerlens Noel, sources tell ESPN’s Adrian Wojnarowski (Twitter links).
According to Wojnarowski, Burks’ new deal will be worth $30MM over three years, while Noel will get a three-year contract worth $32MM.
Burks and Noel both signed team-friendly one-year contracts with New York in 2020 and outplayed those deals. Burks put up 12.7 PPG and 4.6 RPG with a career-high .415 3PT% in 49 games (25.6 MPG), while Noel started 41 of his 64 games, recording 5.1 PPG, 6.4 RPG, and 2.2 BPG in 24.2 MPG.
Burks had been viewed as a probable target for the Cavaliers, while Noel had been linked to the Raptors, Knicks, Hornets, and Kings. However, the Knicks entered the day with more cap flexibility than any other team, putting them in good position to get deals done with their priority free agents.
New York should still have upwards of $30MM+ in possible cap room after making their commitments to Burks and Noel.