The NBA announced Wednesday night that the salary cap was jumping to a record-high of $70 million. That was $3 million more than the initial projections that the league gave to teams back in April and a million more than the reported number that surfaced last week.
It means that the three new max contracts will start at $16.4 million, $19.7 million and $23.0 million, based on service time. For example, Jonas Valanciunas will be eligible for the smallest number this summer, DeMar DeRozan for the biggest next summer.
Here’s where the Raptors stand cap-wise
DeMarre Carroll – $15M X 4 (will assume it starts at just over $14 million with standard raises, we’ll go with Raptors HQ’s $14.051M)
Kyle Lowry – $12M X 2 + $12M player option
DeMar DeRozan $9.5M + $9.5M player option
Cory Joseph $7.025 to start with annual raises, opt-out after third year
Patrick Patterson $6.27M, $6.05M
Jonas Valanciunas $4.66M
Terrence Ross $3.55M
James Johnson $2.5M
Lucas Nogueira $1.84M
Bruno Caboclo $1.52M
Delon Wright $1.50M, $1.57M, $1.34M
Edit: Via cap guru @dhackett1565 Bismack Biyombo’s status on roster doesn’t matter until cap space has been spent so you need to insert a $525K placeholder
Total: approximately $65M
Raptors should have $5M left to spend
Other: Bismack Biyombo $3M X 2 via mini-mid-level exception (doesn’t count against soft cap)
Luke Ridnour: $2.75M million (completely unguaranteed if waived by July 11th so either will be waived or moved in a 1-for-1 trade before then)
Norman Powell $550,000 (if he makes team will be signed after team has spent to cap, so doesn’t count now)
DeAndre Daniels (basically same as Powell)
The options are sign a power forward for the estimated $5M amount, split it on two players, spend part of it on a player and package Ridnour and pick(s) for a power forward, and/or move someone else.
Who is out there: