The NBA just spent $1.8 billion on 11 contacts in just four days. Who got the biggest sums?
The period of negotiating new contracts, transfers and contract extensions began in the NBA on Friday, July 1. The new contracts will be officially signed on July 6. League franchises have entered the market with extraordinary force, closing multi-million dollar deals. Many talks and negotiations took place in the first four days. American experts say that some of them are worth going down in NBA history because of their size. In four days, the NBA spent almost $2 billion. As much as $1.815 billion was spent on 10 contract extensions and one renewal. According to experts, these amounts will go down in history.
This has a lot to do with the extension of the wage cap for the 2023-2024 season. The NBA informed the teams last month after updating its projections for the cap to $136 million and estimating the luxury tax at $165 million, two million and $3 million respectively higher than the initial projections.
Four players won the biggest sums. Five-year, $260 million contracts went to Anthony Edwards (Wolves), LaMelo Ball (Hornets) and Tyrese Haliburton (Pacers). For a slightly smaller amount, 207 million, Desmond Bane (Grizzlies) signed a five-year contract. The said $260 million is currently the maximum allowed by the NBA.