The 2023–24 season will likely see a major increase in the salary cap and tax rate; the NBA informed its teams on Friday.
According to current forecasts, each figure, $134 million for the salary limit and $162 million for the tax level, would be recorded and are both $1 million more than the team’s most recent projections from June. The results show an increase in the tax rate of 7.8% and an increase in the cap of 8.4% for the 2022–23 season.
Also, on Friday, the league informed teams that the total luxury tax payments for the upcoming season would be around $660 million, of which half would go toward revenue sharing, and the other half would be divided equally among the teams not currently anticipated to be required to pay the tax, amounting to about $17 million per team.
However, before a final computation is performed after the regular season, that tax number can change drastically and almost surely will. The salary cap and tax threshold for the 2022–23 season are $123.655 million and $150.267 million, respectively.
NBA Says The Team Salary Cap Might Jump To 134 Million USD:
In 2023–24, the salary cap would be $134 million, and the tax level would be $162 million. Both numbers would be record-breaking, and they are $1 million more than the league’s current predictions from June. A ceiling of $123.655 million and a tax level of $150.267 million are set for the upcoming 2022–2023 season.
Also, on Friday, the league informed teams that the total luxury tax payments for the upcoming season would be around $660 million, with half going toward revenue sharing and the other half being divided equally among the teams not currently expected to be required to pay the tax, amounting to about $17 million per team.
The salary cap of NBA and tax threshold for the 2022–23 season are $123.655 million and $150.267 million, respectively. The NBA’s training camps resume later this month, and the regular season will start on October 18.
