Source NBA.com:
The National Basketball Association today announced that the Salary Cap has been set at $140.588 million for the 2024-25 season. The Tax Level for the 2024‑25 season is $170.814 million.
The Salary Cap and Tax Level go into effect at 12:01 a.m. ET on Monday, July 1. Teams are permitted to begin negotiating with free agents today at 6:00 p.m. ET — six hours prior to the start of the league’s “moratorium period.” The moratorium period ends at noon ET on Saturday, July 6.
The Minimum Team Salary is $126.529 million for the 2024-25 season.
The First Apron Level is $178.132 million for the 2024-25 season.
The Second Apron Level is $188.931 million for the 2024-25 season.
The Collective Bargaining Agreement provides for three different Mid-Level Exceptions depending on a team’s salary level. The Non-Taxpayer Mid-Level for the 2024-25 season is $12.822 million, the Taxpayer Mid-Level is $5.168 million, and the Mid-Level for a team with room under the Salary Cap is $7.983 million.
Okee dokee, so as I understand it, we currently have access to the taxpayer MLE because we are over the 1st apron but under the 2nd. The taxpayer mid-level exception belongs to teams who are above the salary cap and in the first luxury tax apron. Teams above the second apron do not have a mid-level exception. The non-taxpayer mid-level exception belongs to teams who are over the salary cap but not in the first luxury tax apron.
Currently we’re over the 1st apron and about $10 mil under the 2nd so we can use the $5.168 million MLE to sign anyone…if we cut someone since we’re at the maximum roster size. This is because of the cap hits for LeBron, Prince. We could renounce whatever rights we have but I doubt that’s happening.
To gain access to the NTPMLE, worth $12.822 million, we’d need to be above $140.588 but still end up UNDER $170.814 million after we use it, you can’t use that and punch your way into the tax area…which isn’t an actual apron…which makes all of this a lot harder.
If you get all the way under the salary cap itself but above the minimum salary you, are some reason, kind of penalized and I think you only get access to the Room Exception which is the one worth $7.983 mil.
We haven’t even factored in Bronny or Knecht yet, either, right? I’m not 100% sure but I think works out to adding roughly $4.9 mil in added salary on top of the already guaranteed money and the cap holds worth mentioning. If I’m not crazy…no guarantee…that leaves us at $170,229 million in guaranteed salary. So LeBron would have to take a pretty hefty pay cut to keep the salary under $170.814 million and have the room to use the full exception. I believe roughly $20 mil
I am not a cap expert, by any means so please feel free to double-check my math lol. One thing I’m 100% certain of is that somebody needs to be cut in order to free up a physical roster space. That $$$ still counts against the salary cap, it only opens up a roster spot.
Ooops. My brain just exploded.
Probably shoulda dug down into all that a week or two ago but didn’t really carve out the time until today.
Hah, I ain’t takin no Income Cut for Jeannie or Rob. Not for Derose or anyone like him. I would have for a real player that can change things up. Guess we roll with it?
Too bad (?) we couldn’t have got Klay!