NBL salary cap to increase by nearly 7 percent

Photo by Hannah Peters/Getty Images

The salary cap for the 2023-24 NBL season has come in at $1,820,245.40, sources told ESPN, which is a 6.86 percent increase from the previous season.

The maximum the salary cap could have been increased by was 7 percent, according to the league's most recent Collective Bargaining Agreement, so reaching close to that figure points to the strength of the NBL going into the official opening of Free Agency on March 30. The minimum the salary cap could increase by was 4 percent.

Salary figures for the 2023-24 season were distributed to teams on Tuesday, with slight increases across the board.

The salary floor for the upcoming season has been set at $1,638,237.24, sources said. That's the minimum amount each NBL team must spend on its players over next season.

The minimum player salary for the 2023-24 season was set at $69,748.76, sources said, with that number jumping to $74,540.23 for the 2024-25 season.

The Five-Player Rule remains in place for the new season, where the five lowest-paid players on each roster must have a combined value of, at most, $655,294.90, sources said.

For the upcoming season, a team's first marquee will hit the cap at $218,408.73, sources said, while a second will enter at $291,212.91. If a team opted for a third marquee, it would enter the cap at $364,015.82, while a fourth would come in at $436,818.73.