One thing the NBA is enjoying these days is more money than it has ever had before.
Team valuations are sky high, player salaries are increasing, and the league's profit is rising. The salary cap has risen, and it looks like that won't stop anytime soon.
Previous salary cap number projections have been as high as $103 million by this time next year. Just to give a fair comparison, the 2016-17 cap number is $94.1 million. Due to that number, we saw some of the largest contracts in league history signed.
Memphis Grizzlies guard Mike Conley signed a deal for $153 million making him the highest paid player in the NBA, ever.
The National Basketball Players Association's projections have concluded that the cap will rise in three years to as much as $120 million. Meaning, we should expect to see top-level players receive contracts that will exceed $200 million sooner than later.
The new CBA will be ratified next month and all parties are looking forward to its completion.
The enormous jump in salary, amounting to $25.9 million, is due to the new television deal worth $24 billion that began this season.
Some felt the salaries handed out last summer were high, but that was just the beginning. New contracts and extensions will continue to increase during the nine-year TV deal.
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