Life is good if you are a 2016 NBA Free Agent.
According to Shams Charania of The Vertical, who was the first to break the report, the NBA has informed its teams that the salary cap is going up even more than anticipated.
Vertical Sources: NBA has informed its teams that the projected salary cap will rise to $94M for 2016-'17 season. Higher than expected $92M.— Shams Charania (@ShamsCharania) June 17, 2016
A tremendous jump of $24 million from this past season's cap of $70 million. As the NBA's new television deals begin to kick in, the cash flowing to the franchises of the Association will be unlike anything the NBA has ever seen before.
What does this mean for Memphis? A couple more million to kick around in potential free agent signings, since using these figures and those of Chris Herrington of the Memphis Commercial Appeal we can come to the conclusion that the Grizzlies will have at least $8.5 million in initial cap space, and perhaps more if they choose to move on from Lance Stephenson ($18 million) or get as much space as possible ($29 million).
The Grizzlies could be major buyers in this free agent market, but history has shown that outside of their own players Memphis has not been a hot bed for free agency activity. This is both good and bad news- Mike Conley, one of the best free agents available in this class, is still expected to return to the Grizzlies by most, but Mike has also made it clear that he expects to see some work done this Summer to improve the roster.
Add on to all of this the fact that about 20 teams will have close to enough cap space to offer max contracts, and we will soon be seeing some astounding contract figures as the postseason ends for the NBA and the off-season begins in the coming days and weeks. The Grizzlies may have to overpay for free agents to come to Memphis, but perhaps so will everyone else.
Buckle your seat belts- Memphis and the rest of the Association is in for a heck of a ride when free agency begins.