Orlando Magic

Orlando Magic 2023-24 Salary Cap

Magic 2023-24 Salary Cap

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

Magic – The Athletic

The 2021 NBA Offseason Financial Report
As the regular season nears, we take a look back at the offseason that was, diving into top spenders, tax statuses, notable free agent signings, trades, and extensions for each 2021-22 NBA team. READ ON
Player Option
Club Option
Non-Guaranteed
Estimate
Player (9) Pos. Cap Figure Base
Salary
Likely
Incent.
Unlikely
Incent.
Trade
Bonus
Cap Figure Cap % Cash Remaining
(Guaranteed)
Notes
Isaac Jonathan Isaac PF $17,400,000 $17,400,000 - $2,600,000 - $17,400,000 13.44 $34,800,000
($34,800,000)
Rk Extension / Bird
Fultz Markelle Fultz PG $17,000,000 $17,000,000 - $1,000,000 - $17,000,000 13.13 $17,000,000
($2,000,000)
Rk Extension / Bird
G'teed: $2,000,000
Carter Jr. Wendell Carter Jr. C $12,053,571 $12,053,571 - - - $12,053,571 9.31 $38,839,286
($38,839,286)
Rk Extension / Bird
Suggs Jalen Suggs SG $7,252,200 $7,252,200 - - - $7,252,200 5.60 $16,440,737
($7,252,200)
Drafted / Rookie Scale
Anthony Cole Anthony PG $5,539,771 $5,539,771 - - - $5,539,771 4.28 $5,539,771
($0)
Drafted / Rookie Scale
G'teed: $0
Wagner Franz Wagner SF $5,508,720 $5,508,720 - - - $5,508,720 4.26 $12,515,812
($5,508,720)
Drafted / Rookie Scale
Okeke Chuma Okeke PF $5,266,713 $5,266,713 - - - $5,266,713 4.07 $5,266,713
($0)
Drafted / Rookie Scale
G'teed: $0
Hampton RJ Hampton PG $4,220,057 $4,220,057 - - - $4,220,057 3.26 $4,220,057
($0)
Acquired via Trade
G'teed: $0
Afflalo Arron Afflalo SG $1,805,205 - - - - $1,805,205 1.39 - / Minimum


2023-24 Cap Holds

Cap holds represent "placeholders" for pending free agents, unsigned draft picks, offer sheets, etc... Since the Magic 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
RossTerrence Ross SG - $17,250,000 Bird
VazquezFran Vazquez C - $4,493,000 1st Round Rookie Scale
WagnerMoritz Wagner C - $1,855,319 Bird
SpeightsMarreese Speights PF - $1,805,205 Non-Bird
LawVic Law SG - $1,610,414 Two-Way
Incomplete Roster Charge 3 spots 3 spots       $2,944,818  


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 $17,150,000
($17,150,000)
Evan Fournier trade with BOS 02/11/2022
Trade Exception $4,272,060
($4,272,060)
Al-Farouq Aminu trade with CHI 02/11/2022
Trade Exception $2,000,000
($2,000,000)
Gary Clark trade with DEN 02/11/2022


2023-24 Luxury Tax Totals

Denotes the Magic 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 $76,046,237
Current Luxury Tax Space $71,692,763


2023-24 Orlando Magic Salary Cap Totals

The Magic 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 $76,046,237
Cap Holds $29,958,756
Total Cap Allocations $106,004,993
Salary Cap Maximum
2023 NBA Salary Cap Max $121,575,000
Current Cap Space $15,570,007
Salary Cap Floor
2023 NBA Salary Cap Floor $109,418,000
Current Floor Space $33,371,763
 

2023-24 Practical Cap Space

Available Practical Cap Space: $66,286,975 — $66,286,975

$66,286,975
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.

$66,286,975
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
07/01/2023 Markelle Fultz Guaranteed $17,000,000
10/31/2023 Franz Wagner 2024-25 Club Option $7,007,092
10/31/2023 Jalen Suggs 2024-25 Club Option $9,188,537
06/30/2024 Franz Wagner 2025-26 Qualifying Offer $9,445,560
06/30/2024 Chuma Okeke 2024-25 Qualifying Offer $7,399,732
06/30/2024 Jalen Suggs 2025-26 Qualifying Offer $12,184,001