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Report: NBA Raising 2022-23 Salary Cap Higher Than Initially Expected
Business in the NBA appears to be booming
With the first full NBA season since the beginning of the COVID-19 pandemic nearing an end, the salary cap is once again on the rise. According to The Athletic's Shams Charania, the cap will be set at $122 million with a luxury tax threshold of $149 million, both higher than initial estimates back in February.
The news shouldn't have a major impact on the Toronto Raptors who currently have 11 players under contract for next season either on fully-guaranteed deals or partially guaranteed deals. Those players account for $115,828,671, according to Spotrac, without Chris Boucher and Thad Young signed.
For now, the Raptors sit somewhat stuck in the middle with their financial situation. They're just $6 million below the salary cap and therefore don't have enough room to go out and make a big free agent addition. However, they have nearly $33 million of space below the luxury tax threshold that can't quite be filled up without taking on salary in an offseason trade.
The good news, however, is a rising cap should give Toronto more flexibility to re-sign Fred VanVleet and Gary Trent Jr. who are both just one year away from hitting free agency in the summer of 2024 assuming they both opt out of their current contracts.
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