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 (7) Pos. Cap Figure Base
Salary
Likely
Incent.
Unlikely
Incent.
Trade
Bonus
Cap Figure Cap % Cash Remaining
(Guaranteed)
Notes
Towns Karl-Anthony Towns C $36,016,200 $36,016,200 - - - $36,016,200 23.01 $36,016,200
($36,016,200)
Rk Extension / Bird
Beasley Malik Beasley SG $16,524,106 $16,524,106 - - - $16,524,106 10.56 $16,524,106
($0)
Free Agent / Bird
G'teed: $0
Edwards Anthony Edwards SG $13,534,817 $13,534,817 - - - $13,534,817 8.65 $13,534,817
($0)
Drafted / Rookie Scale
G'teed: $0
Vanderbilt Jarred Vanderbilt PF $4,698,000 $4,640,000 $58,000 $145,000 - $4,698,000 3.00 $4,640,000
($300,000)
Free Agent / Bird
G'teed: $300,000
McDaniels Jaden McDaniels PF $3,901,399 $3,901,399 - - - $3,901,399 2.49 $3,901,399
($0)
Drafted / Rookie Scale
G'teed: $0
Bolmaro Leandro Bolmaro SG $2,588,400 $2,588,400 - - - $2,588,400 1.65 $6,980,915
($0)
Drafted / Rookie Scale
G'teed: $0
McLaughlin Jordan McLaughlin PG $2,320,000 $2,320,000 - $100,000 - $2,320,000 1.48 $2,320,000
($0)
Free Agent / Early Bird
G'teed: $0


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 (5) Pos. Qualifying Offer Likely Incent. Unlikely Incent. Trade Kicker Cap Figure Rights
RussellD'Angelo Russell SG - $38,700,000 Bird
TurnerEvan Turner SF - $27,909,834 Bird
BrooksAaron Brooks PG - $1,805,205 Non-Bird
NowellJaylen Nowell SG - $1,805,205 Bird
ReidNaz Reid C - $1,805,205 Bird
Incomplete Roster Charge 5 spots 5 spots       $4,908,030  


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 06/30/2022


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 $79,582,922
Current Luxury Tax Space $68,156,078


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 $79,582,922
Cap Holds $76,933,479
Total Cap Allocations $156,516,401
Salary Cap Maximum
2023 NBA Salary Cap Max $121,575,000
Current Cap Space $-34,941,401
Salary Cap Floor
2023 NBA Salary Cap Floor $109,418,000
Current Floor Space $29,835,078
 

2023-24 Practical Cap Space

Available Practical Cap Space: $71,044,740 — $71,044,740

$71,044,740
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.

$71,044,740
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
10/31/2023 Leandro Bolmaro 2024-25 Club Option $4,392,515
06/30/2024 Anthony Edwards 2024-25 Qualifying Offer $17,595,263
06/30/2024 Jaden McDaniels 2024-25 Qualifying Offer $5,813,085
2024-25
06/30/2025 Leandro Bolmaro 2025-26 Qualifying Offer $6,391,109