Charlotte Hornets

Charlotte Hornets 2023-24 Salary Cap

Hornets 2023-24 Salary Cap

An updated look at the Charlotte Hornets 2023 salary cap table, including team cap space, dead cap figures, and complete breakdowns of player cap hits, salaries, and bonuses.

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Player Option
Club Option
Non-Guaranteed
Estimate
Player (11) Pos. Cap Figure Base
Salary
Likely
Incent.
Unlikely
Incent.
Trade
Bonus
Cap
Figure
Cap %
Team
Cap %
League
Cash Remaining
(Guaranteed)
Notes
Hayward Gordon Hayward SF $31,500,000 $31,500,000 - - - $31,500,000 18.44 23.51 $31,500,000
($31,500,000)
Acquired via S&T
Rozier Terry Rozier PG $23,205,221 $23,205,221 - - - $23,205,221 13.59 17.32 $74,772,378
($73,053,473)
Vet Extension / Bird
Ball LaMelo Ball PG $10,900,635 $10,900,635 - - - $10,900,635 6.38 8.13 $10,900,635
($10,900,635)
Drafted / Rookie Scale
Martin Cody Martin SF $7,560,000 $7,560,000 - - - $7,560,000 4.43 5.64 $24,360,000
($15,680,000)
Free Agent / Bird
Richards Nick Richards C $5,000,000 $5,000,000 - - - $5,000,000 2.93 3.73 $15,000,000
($10,000,000)
Vet Extension / Early Bird
Bouknight James Bouknight SG $4,570,080 $4,570,080 - - - $4,570,080 2.68 3.41 $10,634,577
($4,570,080)
Drafted / Rookie Scale
Williams Mark Williams C $3,908,160 $3,908,160 - - - $3,908,160 2.29 2.92 $14,278,971
($3,908,160)
Drafted / Rookie Scale
Jones Kai Jones PF $3,047,880 $3,047,880 - - - $3,047,880 1.78 2.27 $7,741,615
($3,047,880)
Drafted / Rookie Scale
Simmons Kobi Simmons PG $2,066,585 $2,066,585 - - - $2,066,585 1.21 1.54 $2,066,585
($0)
RoS / Minimum
G'teed: $0
Thor JT Thor PF $1,836,096 $1,836,096 - - - $1,836,096 1.07 1.37 $3,824,694
($0)
Drafted / Space
G'teed: $0
McGowens Bryce McGowens SG $1,719,864 $1,719,864 - - - $1,719,864 1.01 1.28 $5,927,014
($1,719,864)
RoS / NT-MLE


2023-24 Two-Way

Players signed to Two-Way contracts that are currently designated to G-League affiliate. Two-way salaries do not count against a team's Total Cap/Tax Allocations.

Player (1) Pos.
SneedXavier Sneed SG          


2023-24 Cap Holds

Cap holds represent "placeholders" for pending free agents, unsigned draft picks, offer sheets, etc... Since the Hornets are currently over the league salary cap, these cap holds do not count against their Total Cap figure. Renouncing these cap holds will NOT afford the team any new cap space. These figures are not counted toward a team's Luxury Tax Allocation.

Player (9) Pos. Qualifying Offer Likely Incent. Unlikely Incent. Trade Kicker Cap Figure Rights
WashingtonPJ Washington PF $8,486,620 $17,425,306 Restricted Bird
Oubre Jr.Kelly Oubre Jr. SF - $16,380,000 Early Bird
BridgesMiles Bridges SF $7,921,301 $16,264,479 Restricted Bird
MykhailiukSviatoslav Mykhailiuk SG - $1,989,698 Non-Bird
Smith Jr.Dennis Smith Jr. PG - $1,989,698 Non-Bird
ThomasIsaiah Thomas PG - $1,989,698 Non-Bird
MaledonTheo Maledon PG $1,774,999 $1,774,999 Two-Way
KulbokaArnoldas Kulboka SF - $1,774,999 Two-Way
LewisScottie Lewis SG - $1,774,999 Two-Way
Incomplete Roster Charge 1 spots 1 spots       $981,606  
Round 1, Pick #2       $10,718,760  
Round 1, Pick #27       $2,427,360  
Round 2, Pick #34       -  
Round 2, Pick #39       -  
Round 2, Pick #42       -  


Exceptions

Exceptions are essentially "grants" offering teams an additional way to sign players. Exceptions can be split up for multiple player signings, however only one of these exceptions may be used in a season and they cannot be combined.

Non-Taxpayer Mid-Level Exception Details is awarded annually to teams who are above the cap but below the Luxury Tax Apron ($169,000,000) and can be used for contracts up to 4 years in length.

Bi-Annual Exception Details is available to any teams who are below the Luxury Tax Apron ($169,000,000), and did not use this exception in the previous season. It can be used for contracts up to 2 years in length.

Trade Exception Details becomes available when a team relinquishes more salary than it acquires during a trade. The "credit" balance remains as an exception that can be used within the next year to acquire salary via trade without further relinquishing additional salary.

Type Reason (Used On) Original Available
Non-Taxpayer Mid-Level
$12,221,000 $12,221,000
Bi-Annual
$4,448,000 $4,448,000
Trade
2/09/2024
Jalen McDaniels trade with PHI
$1,930,681 $1,930,681


2023-24 Luxury Tax Totals

Denotes the Hornets current standing in terms of the luxury tax threshold. Teams that spend over the threshold pay fines (estimated below).

Type Totals
2023 NBA Luxury Tax Threshold $162,000,000
Total Taxable Salaries $95,314,521
Current Luxury Tax Space $66,685,479


2023-24 Charlotte Hornets Salary Cap Totals

The Hornets are currently over the league salary cap. This means Cap Holds & Exceptions are NOT included in their Total Cap Allocations, and renouncing these figures will not afford them any cap space. The team may only sign outside players using any available exceptions or at league minimum salaries.

Cap Type Cap Total
Active Roster Cap $95,314,521
Cap Holds $75,491,602
Total Cap Allocations $170,806,123
Salary Cap Maximum
2023 NBA Salary Cap Max $134,000,000
Current Cap Space $-36,806,123
"Super Tax" Apron
2023 NBA Super-Tax Apron $179,500,000
Super-Tax Apron Space $84,185,479
Salary Cap Floor
2023 NBA Salary Cap Floor $120,600,000
Current Floor Space $25,285,479
 

2023-24 Practical Cap Space

Available Practical Cap Space: $28,460,434 — $26,497,222

$28,460,434
Projected Practical Cap Space:

This is calculated by determining all guaranteed salaries + any dead cap from non-guaranteed salaries + estimated exercised and declined options + estimated retained cap holds and draft pool cap holds.

$26,497,222
Maximum Possible Cap Space:

This is calculated by determining all guaranteed salaries + any dead cap from non-guaranteed salaries. All other options, cap holds, exceptions are assumed as declined, waived or renounced.





Deadlines

Deadline Date Player Type Value
6/29/2023 Theo Maledon 2023-24 Qualifying Offer — Two-Way $1,774,999
6/30/2023 PJ Washington 2023-24 Qualifying Offer $8,486,620
10/31/2023 James Bouknight 2024-25 Club Option $6,064,497
10/31/2023 Kai Jones 2024-25 Club Option $4,693,735
10/31/2023 Mark Williams 2024-25 Club Option $4,094,280
1/10/2024 JT Thor 2023-24 Guaranteed $1,836,096
1/10/2024 Kobi Simmons 2023-24 Guaranteed $2,066,585
6/29/2024 Xavier Sneed 2024-25 Qualifying Offer — Two-Way $2,156,156
6/30/2024 James Bouknight 2025-26 Qualifying Offer $8,302,297
6/30/2024 LaMelo Ball 2024-25 Qualifying Offer $14,301,633
7/18/2024 Bryce McGowens 2024-25 Guaranteed $2,019,699
10/31/2024 Mark Williams 2025-26 Club Option $6,276,531
1/10/2025 JT Thor 2024-25 Club Option $1,988,598
6/29/2025 Nick Richards 2025-26 Guaranteed $5,000,000
6/30/2025 Kai Jones 2025-26 Qualifying Offer $6,693,266
6/30/2025 Bryce McGowens 2025-26 Club Option
6/30/2025 Cody Martin 2025-26 Guaranteed $8,680,000
7/18/2025 Bryce McGowens 2025-26 Guaranteed $2,187,451
1/10/2026 Terry Rozier 2025-26 Guaranteed $26,643,031
6/29/2026 Mark Williams 2026-27 Qualifying Offer $8,774,590




Unsigned Draft Picks

Draft Year Player Age Position Country College
2015 Tyler Harvey 29 SG USA Eastern Washington


Future Draft Picks

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
2024
CHA
Top-14 Protected (from SAS)
SAS
15-30 (via NYK to ATL)
2025
CHA
Top-14 Protected (if not already settled with SAS)
SAS
15-30 if not already settled (via NYK to ATL)
2026
CHA
2027
CHA
2028
CHA
2029
CHA
31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60
2024
CHA
POR
More favorable of CHA and MIN then other to OKC (via MIN to OKC to DEN)
2025
CHA
31-55
GSW
56-60
2026
CHA    SAS
CHA pick if CHA conveys 1st to SAS by 2025; SAS pick if CHA does not convey 1st to SAS by 2025 (via NYK to ATL)
2027
CHA    SAS
CHA pick if CHA conveys 1st to SAS by 2025; SAS pick if CHA does not convey 1st to SAS by 2025 (via NYK to ATL)
CHA
More favorable of NOP and POR to CHA then other to POR (via POR)
2028
CHA
CHA
2029
CHA