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Minnesota Timberwolves

Minnesota Timberwolves 2023-24 Salary Cap

Timberwolves 2023-24 Salary Cap

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

Timberwolves – The Athletic

Player Option
Club Option
Non-Guaranteed
Estimate
Player (4) Age Pos. Cap Figure Signed Using Base Salary Dead Cap Cap Figure Cap % Future Gteed Cash
TownsKarl-Anthony Towns 27 C $36,016,200 Bird
Rookie Max Ext (25%)
$36,016,200 ($36,016,200) $36,016,200 18.95 -
BeasleyMalik Beasley 26 SG $16,524,106 Bird $16,524,106 - $16,524,106 8.69 -
EdwardsAnthony Edwards 22 SG $13,534,817 Rookie $13,534,817 - $13,534,817 7.12 -
McDanielsJaden McDaniels 23 PF $3,901,399 Rookie $3,901,399 - $3,901,399 2.05 -


2023-24 Cap Holds

Cap holds represent "placeholders" for pending free agents, unsigned draft picks, offer sheets, etc... Since the Timberwolves 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 (8) Age Pos. Signed Using Base Salary Trade Kicker Likely Incent. Dead Cap Qualifying Offer Cap Figure Cap %
RussellD'Angelo Russell 27 SG Bird   - $38,700,000  
TurnerEvan Turner 34 SF Bird   - $27,909,834  
CulverJarrett Culver 24 SG Restricted Bird   $10,817,490 $24,327,189  
HernangomezJuan Hernangomez 28 PF Bird   - $14,310,572  
BolmaroLeandro Bolmaro 23 SG 1st Round Rookie Scale   - $2,588,400  
BrooksAaron Brooks 38 PG Non-Bird   - $1,805,205  
NowellJaylen Nowell 24 SG Bird   - $1,805,205  
ReidNaz Reid 24 C Bird   - $1,805,205  
Incomplete Roster Charge 7 spots 7 spots           $6,871,242    


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.

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 Amount (Remaining) Reason/Notes Expire Date
Trade Exception $4,750,000
($4,750,000)
Ricky Rubio trade with MIN 07/29/2022


2023-24 Luxury Tax Totals

Denotes the Timberwolves 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 $147,739,000
Total Taxable Salaries $80,794,012
Current Luxury Tax Space $66,944,988


2023-24 Minnesota Timberwolves Salary Cap Totals

The Timberwolves 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 $69,976,522
Cap Holds $120,122,852
Total Cap Allocations $190,099,374
Salary Cap Maximum
2023 NBA Salary Cap Max $121,575,000
Current Cap Space $-68,524,374
Salary Cap Floor
2023 NBA Salary Cap Floor $109,418,000
Current Floor Space $36,853,078
 

2023-24 Practical Cap Space

Available Practical Cap Space: $72,172,734 — $72,172,734

$72,172,734
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.

$72,172,734
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
2023-24
06/29/2024 Anthony Edwards 2024-25 Qualifying Offer $17,595,263
06/29/2024 Jaden McDaniels 2024-25 Qualifying Offer $5,813,085