Important news just came out as the NBA has moved its finances up 10% in maximum increase that will allow the salary cap and luxury tax to move up with it according to NBA insider Shams Charania.
Thank you for reading this post, don't forget to subscribe!Updated financial figures for the 2023-24 NBA season nears the 10 percent maximum increase, league informed teams today:
– $136 million salary cap, $2M higher than prior projection
– $165 million luxury tax level, $3M higher than prior https://t.co/udaRDUBXRK— Shams Charania (@ShamsCharania) June 21, 2023
With this news, the salary cap now takes a $2M jump and the luxury tax takes a $3M jump from where it was last year. The Suns recently just traded for star guard Bradley Beal to form a big three in Phoenix.
Between Devin Booker, Kevin Durant, and Beal, the Suns will be spending $131 million on just those three players alone. Factor in Center Deandre Ayton, and the Suns will be spending close to the luxury tax.
With the new second apron contract getting ready to kick in for the 2024-25 season, the Suns need all the room they can get in hopes to round out their roster for this season.
With this news, it also bodes well for the Suns to be able to spend well on rotational pieces this offseason that can contribute right away around Booker, Durant, Beal, and possibly Ayton if he’s not traded.
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We shall see what comes about this later this offseason in regards to the Suns spending money to solidify their bench.
