By Eurohoops team/ info@eurohoops.net
While European basketball is still trying ways to be sustainable, the NBA continues to be one of the more profitable leagues in the world and that is reflected to the salaries of the players.
The NBA told its teams Friday that it still expects to see a significant jump in the salary cap and tax level in the 2023-24 season. Based on current projections, both figures – $134 million for the salary cap, and $162 million for the tax level – would set records, and both are $1 million higher than the league’s most recent projections made in June.
The figures represent the cap rising 8.4% and the tax level 7.8% over the 2022-23 season. The 2022-23 season has a salary cap of $123.655 million and a tax level of $150.267 million.
Also Friday, the league told teams that total luxury tax payments for the coming season would be around $660 million, half of which would fund revenue sharing and the other half distributed in equal shares – about $17 million each – to teams not currently projected to have to pay the tax.