NBA owners passed out contracts with record number salaries in the first 24 hours of free agency.
There have been so many mega deals that some might think they numbers were from a video game.
According to Darren Rovell, more than $1.7 dollars worth of deals were agreed to on July 1 alone, with the average contract totaling a whopping $62 million dollars.
Memphis Grizzlies point guard Mike Conley agreed to sign a deal worth $153 million for five years, which is the largest and most lucrative contract in NBA history.
The massive deals are from over because some of the biggest names in this year’s free agent pool have yet to sign. Kevin Durant will make a decision on a team within the next day or two, and nothing has been heard from LeBron James, who has been on vacation but promised to re-sign with the Cavs. And don’t forget Dwayne Wade and Pau Gasol, both of whom have yet to choose a team.
The NBA released their official salary cap figures today, and the lowest amount of contract money they can spend is $84.729 million to be exact. The official cap ceiling is $94.143 million, with the luxury tax starting at $113.287 million.
More to come, stay tuned.
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