Sports
2023 NBA Free Agency Sees $1B in Contracts Reportedly Agreed to in 1 Hour – Bleacher Report
As expected, NBA free agency started off with a bang.
More than $1 billion in reported contracts were handed out to players within the first hour of the market opening, according to ESPN.
It took an hour and 2 minutes, but already over $1 billion has been spent today on signings, based on reported money. <a href="https://t.co/nlfm6shDJ0">pic.twitter.com/nlfm6shDJ0</a>
Many of the league’s biggest free agents are already off the board. Here’s a list of some of the biggest names with their reported contracts:
While a significant amount of money was dished out to players at the start of free agency, teams must take into account the addition of a second salary cap apron under the new collective bargaining agreement.
The first apron is set at $172.3 million in 2023-24 and the second apron will be $182.8 million. Franchises that go over the second apron will lose the taxpayer mid-level exception.
With some of the best players off the board, title contenders will look to continue building their rosters around depth players throughout the summer.