Key Factors & Dates of immediate & transitioned elements of new CBA
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After the two sides pushed back the opt-out deadline on the previous CBA multiple times, they agreed to this new deal April 1, and it runs through June 30, 2029.
The new CBA introduces two "apron" levels above the luxury tax line, where teams have to deal with not only harsher luxury tax penalties but also restrictions on what they can do with their rosters.
For 2023-24, the salary cap is projected to be $134 million, and the luxury tax line is set to be $162 million. While those numbers change every year based on league revenue, the apron levels do not. The first apron is set at $7 million above the luxury tax level in each season of the CBA (so $169 million for 2023-24) and the second apron is set at $17.5 million above the tax threshold (or $179.5 million).
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There are at least six teams, including the Celtics, Denver Nuggets and Phoenix Suns, that are projected to be above the first apron but below the second apron in 2023-24. The Philadelphia 76ers could join the group if James Harden signs a $47 million max contract in the offseason.
We currently project the Warriors, Clippers and Miami Heat to be over the second apron in 2023-24.
Now here's where things get challenging for those teams right away.
Teams over the second apron will no longer have access to the taxpayer midlevel exception.
Buyout season will also look different with these aprons in place. Teams over either apron will be prevented from signing a player waived during the regular season if that player's pre-waiver salary was larger than the non-taxpayer midlevel exception (about $10.5 million this past season).
Trades will also get harder for these teams, as the salary matching exception will be reduced from 125% to 110% starting this offseason.
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The new CBA increases the maximum in the first year of an extension from 120% to 140%.
Another improvement is that players entering the final year of their rookie deals are now allowed to sign five-year extensions for any salary. Previously only rookie max extensions could be five years long (all others had to be four years or less).
Players are also allowed to decline the player option in their contract and extend their contract for a lower salary.
Eliminating the rule limiting the number of designated veteran (aka supermax) and designated rookie extensions a team can have on the roster will also have important implications. The current rule has restricted teams to carrying no more than two players per designation.
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Things get even worse for apron teams starting in the 2024 offseason when a team over the second apron will no longer be able to aggregate salaries to trade for a single player making more money.
Second apron teams will also no longer be able to use cash in trades.
Teams over the first apron but below the second apron will still be able to aggregate salaries, but they will not be able to take back more salary in a trade than they send out.
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Beginning with the 2024-25 season, teams that finish the regular season over the second apron will no longer be able to trade their draft pick seven years out (so the 2031 draft for teams that hit that level the first season this rule is in place). If a team is over the second apron twice in four seasons starting in 2024-25, that pick -- which still can't be traded -- will also be moved to the bottom of the first round regardless of where a team finishes in the standings. It should be noted that teams can "unfreeze" their pick and make it trade-eligible again by staying below the second apron in three of the following four years after it gets frozen (which is another enticement for teams to not repeatedly exceed the second apron).
Finally, starting in 2025-26, there will be an increased penalty for teams that spend more than $10 million over the tax threshold.
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Starting in 2024-25, players who are acquired in a trade are allowed to extend for an additional four seasons (including what is left on their contract) at 120% of their current salary or estimated average player salary. Under the previous CBA, players who were within six months of having been traded could only extend for three total seasons (including the amount remaining on the current deal) and at 105% of their salary.
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One non-extension rule that should benefit players in free agency is adding additional penalties for teams that do not spend. Under the current CBA, teams are required to spend a minimum 90% of the salary cap. However, the only penalty is that the shortfall is distributed back to the players on their roster at the end of the season. However, starting in 2024-25, any team that is below the minimum floor on the first day of the regular season will not receive a tax distribution.
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The new CBA also created 30 more player jobs with the addition of a third two-way player spot for each team. There was also significant growth in the non-taxpayer and room midlevel exceptions.
One rule that benefits both the players and the teams is the creation of a second-round exception. Now teams looking to sign a second-round pick for more than the minimum don't have to dip into one of their other exceptions to do so.
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Taxpaying teams not flirting with the new second apron will also face more stringent limitations on adding players, as the taxpayer midlevel exception will decrease in value and to a maximum of two years rather than the current three.
On the flip side, going a small amount into the tax will become less painful because the tax rates for the first two brackets will be lowered starting in 2025-26. Additionally, as we first proposed last summer, those tax brackets will grow with the salary cap. Still, the fact that taxpaying teams lose out on the tax distribution may continue to make the tax line a de facto hard cap for low-revenue teams.
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Teams that don't go over the first tax apron will have far more flexibility under the new CBA. The non-taxpayer midlevel exception will grow in value by 7.5% and the room midlevel exception, which teams can use after spending cap space in free agency, will grow by 30%.
Both those exceptions, plus the biannual exception, will also be available for use in trades in addition to signing free agents.
Things get even worse for apron teams starting in the 2024 offseason when a team over the second apron will no longer be able to aggregate salaries to trade for a single player making more money.
Call this the Harden rule. This isn't so much about limiting teams from spending but preventing super-teams. There's been a lot more sentiment lately towards securing the bag wherever and then demanding a trade later. At least now you won't be able to join a super-team. _________________ Luxury Tax/FA Spreadsheet (Save to your Google Drive to edit)
The NBA and NBA Players Association announced today that the new Collective Bargaining Agreement has been ratified by the NBA Board of Governors and the NBA players. The seven-year agreement will take effect on July 1, 2023, and run through the 2029-30 season.
The NBA and National Basketball Players Association announced Wednesday night they have ratified the recently agreed-upon new collective bargaining agreement, one that will ensure labor peace through the remainder of this decade.
The new deal will go into effect on July 1, and will remain in place until at least the summer of 2029, when both sides will have the option -- as they did in the current deal -- to either opt into the final year of the deal or opt out and negotiate a new one.
The new agreement has several new elements designed to curb spending for the league's highest-paying teams, specifically the Golden State Warriors and LA Clippers. Chief among them: the creation of a "second apron" above the luxury tax, one that will severely hamper teams if they go over it.
Some of those limitations include: the inability to sign any free agents for more than a minimum contract, being unable to use cash in trades and being unable to sign players on the buyout market after the trade deadline.
The new agreement, however, creates a lot of flexibility for everyone besides the handful of teams that don't go over that second apron. The lower bands of the luxury tax were reduced to make it less painful to spend into it, trade restrictions were loosened to make deals more possible -- including the mid-level exception now being allowed to be used as a trade exception -- and increasing the size of both the mid-level and bi-annual exceptions.
The deal also codifies the much-discussed in-season tournament, which will begin next season, and increased the limits on veteran extensions from 120% of their previous salary to 140%, while also providing opportunities to invest in funds through the NBPA that will allow them to have small stakes in both NBA and WNBA teams, giving players a chance to directly benefit from rising franchise valuations.
Both sides came to the new agreement in the early morning hours of April 1, shortly after the deadline for both sides to opt out of the current agreement had expired at midnight on March 31. If there hadn't been an agreement, the NBA had already indicated it was going to opt out of the current deal, and there would have been a labor stoppage this summer.
Instead, now there is continued labor peace in the NBA, something that's been the case since 2011, as this is now the second straight agreement that has been achieved without a work stoppage.
Interesting note in bold: the ntpMLE & possibly the BAE could be used as TPEs in trading for players within their respective amounts. _________________ Not familiar with the salary cap/CBA rules & how it impacts our Lakers?
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Pod w/Larry Coon & Bobby Marks sheds a bit more of what to expect in the new CBA. Please refer to the first post on this page as to when these new rules transition in (ie some will go into effect immediately for the upcoming 2023 offseason / 2023-24 regular season and the new rules will fully be in place by the 2025 offseason / 2025/26 regular season).
•2nd Apron goes into effect immediately limiting some resources a team can’t use like the tpMLE, targeting buyout candidates, lower trade matching rates.
•New luxury taxes based on cap scale will go into effect by the 2025/26 season, with the first two lower tax brackets being closer to a dollar for dollar rate, but the third tax bracket exponentially gets steeper at a $3 per $1 over; also the repeater tax will be even more punitive than they are now
•If teams that are in the tax conduct transactions during the season where they breach the 1st Apron (ie midseason trades, signing buyout players, etc) then they will not only be hardcapped at the 1st Apron for the current season, but be hardcapped at the 1st Apron for the following season as well
•Breaching the 1st apron also means you can’t add waived/buyout players that had higher salary than what the ntpMLE is valued at for that season
•TPEs will have much more restrictions for redemption (currently 1yr expiration) if you breach the 1st apron; also a player that was previously S&t’d can no longer be acquired via a team’s TPE that’s breached the 1st apron
•in addition to the tpMLE being banned for 2nd apron breaches, it will now be reduced in value to 5m for up to 2yrs rather than the 7.2m it was projected to be at and could offer up to 3yrs; room exceptions are now 130% greater than what they were valued as and can be up to 3yrs in length as opposed to 2yrs; think of it as the tpMLE and roomMLE switched values
•teams that are 2nd apron breachers, will not be able to trade picks that are 7yrs out (ie frozen picks); teams that are repeat apron breachers (2 seasons out of a 4 season window) will have those “frozen picks” then drop to the bottom of the draft order; you can only “unfreeze” these picks to trade if a 2nd apron breach repeater no longer is considered a repeater (3 out of a 4yr window is observed as nonbreached)
•all MLEs & BAEs can now be treated as TPEs where they can be used to trade for players that are already at that set price point or claimed off the waiver wire; this will be transitioned in by the 2024/25 season
•1yr deal players on early/full bird rights will no longer have a defacto no-trade clause within that deal; in writing up such a deal, at the time a player can either choose to include or remove m that NTC artifact into the deal
•RFA matching window has shrunk down to 24hrs instead of 48hrs, but that clock still kicks in at the end if the FA moratorium (ie July 6th 9am PT)
•new salary matching trade rules for non-taxpaying teams will be:
200% of outbound salary up to 6.5m
Up to 7m in additional salary for an outbound amount between 6.5m and 19.5m
150% of outbound salary greater than 19.5m
Meanwhile, taxpaying teams can only acquire up to 110% of outbound salary based on where they are positioned to each respective apron
•since teams can now roster up to 3 two-way players, offseason rosters expand to up to 21 players before getting it down to 15 (two-ways not included) by opening night
•salary cap will keep increasing and will not decrease (ie “cap smoothing” ahead of new TV deal); max increases per year are set to 10%, just like the current CBA
All the above points are loosely based and rumored till a more definitive source material gets released (like Coon’s FAQ). I’ll try to keep updating this post with new bullet points tgat I may have missed or quoted incorrectly after I have time for another re-listen to the pod.
Feel free to listen to the pod and add or correct the list above fam! I know a bunch of info has abreast been released so apologies if this new post is more an echo chamber rather than pointing out new unreleased rules. _________________ Not familiar with the salary cap/CBA rules & how it impacts our Lakers?
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Has it been determined if the TPMLE will immediately be dropped to $5 million this upcoming offseason? Or will it be phased in following offseason instead? _________________ Luxury Tax/FA Spreadsheet (Save to your Google Drive to edit)
^G: looks like the new exception amounts will go into effect immediately. I’m assuming the cal will come to rest at 136m instead of it’s current 134m projection. So figures below reflect that.
tpMLE: 5m for up to 2yrs
ntpMLE: 12.4m for up to 4yrs
roomMLE: 7.7m for up to 3yrs
BAE: 4.5m for up to 2yrs
Pelinka (2nd round) exception: 2.1m for up to 4yrs (team option on final year; exception only applies to drafted players in 2nd round and supposedly not undrafted players) _________________ Not familiar with the salary cap/CBA rules & how it impacts our Lakers?
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^G: if you scrub the previous page in this thread, there were a lot insider tweets that revealed some of the specifics in the new CBA. But here is what Shams tweeted out and on a 136m cap, a 3rd year player’s minimum is projected to be 2.09m starting. That exception also specifies that no matter if it’s a 3yr deal or a 4yr deal, the final year if that contract would include a team option. So even if Rob wants to still offer a guaranteed 2yr deal, that 3rd year team option automatically tacks on with this exception. It’s foolproof….only downside is that Coon made it seem in the pod that it can’t be used on undrafted rookies. So the TBs, the THTs and the MaxCs of the future can be preventable with this exception, but unfortunately the ACs & the AReaves can still occur and get in the way of my mental health.
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Shams Charania @ShamsCharania
Sources: New NBA Collective Bargaining Agreement numbers:
- Non-Taxpayer MLE increases 7.5%: $10.5M to 12.2M
- Room MLE increases 30%: $5.5M to $7.6M; max contract length now 3 years
- New Second-Round Pick Exception: 3-4 year contracts up to minimum salary for third-year player
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Yeah it's almost double the rookie min. 2nd round picks might be more valuable moving forward; teams were handing them out like candy the past summer. _________________ Luxury Tax/FA Spreadsheet (Save to your Google Drive to edit)
So this is a laser guided missiles set upon teams like the Warriors/Clips? These two teams have major questions.
Both are unlikely to have a TPMLE this summer then, right? So someone like Westbrook will have to settle on a minimum deal? _________________ From 2-10 to the Western Conference Finals
Yi: I posted about that in the FA discussion thread…
vasashi17+ wrote:
^Re: cLips tpMLE
It’s rumored the tpMLE will be 5m per for up to 2years. So if Russ or any other vet min FA looks to cash in this summer, the most they can get via tpMLE is a projected 10m over 2yrs.
In regards to the use of the tpMLE, teams that breach the 2nd Apron (17.5m above projected tax line, which as of now is projected at 179.5m based on a 162m tax line) will not be able to use the MLE this offseason.
cLips are projected to have a team salary north of 220m with the 30th overall pick & Plumlee’s capholds on their books. And let’s say they allow Plumlee to walk in free agency, trade the 30th overall pick, remove Eric Gordon’s 20.9m nonguaranteed deal and waive their 2 other nonguaranteed deals to open up more wiggle on their cap sheet, then they will still be looking at roughly 177.3m in team salary and that means with the use of the full tpMLE, they will have breached the 2nd Apron.
So bottomline, they need to offload salary this summer to gain enough wiggle to use the full tpMLE.
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There are at least six teams, including the Celtics, Denver Nuggets and Phoenix Suns, that are projected to be above the first apron but below the second apron in 2023-24. The Philadelphia 76ers could join the group if James Harden signs a $47 million max contract in the offseason.
We currently project the Warriors, Clippers and Miami Heat to be over the second apron in 2023-24.
Now here's where things get challenging for those teams right away.
Teams over the second apron will no longer have access to the taxpayer midlevel exception.
Pretty much applies for the dubs as well, since they projected to have a 200m+ payroll even if they retain Dray on a lower annual figure. _________________ Not familiar with the salary cap/CBA rules & how it impacts our Lakers?
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It's in the realm of possibility if they waive Gordon, shed Morris, and probably RoCo's salaries, especially if they want to retain Plumlee. If Ballmer wants to give one last eff you to the new CBA, the smarter play is to combine all their salaries and their pick before the new CBA kicks in. Gordon's non-guaranteed $20 million would garner a lot interest I'd imagine. _________________ Luxury Tax/FA Spreadsheet (Save to your Google Drive to edit)
@G: The new 110% trade multiplier rules kick in on transactions post June 30th. So I would think the cLips & dubs could be really aggressive with some of those contracts to take advantage of the 125% trade multiplier pre June 30th, while they still can. _________________ Not familiar with the salary cap/CBA rules & how it impacts our Lakers?
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With the NTMLE increasing, does it now exceed the Early Bird exception? Even if it does we can still use the Gilbert Arenas provision and payout structure on Reaves without exhausting our MLE right? _________________ Luxury Tax/FA Spreadsheet (Save to your Google Drive to edit)
@G: I believe the early bird rights will be adjusted to reflect right at or just above the ntpMLE amount (of 12.2m - 12.4m depending on cap being set to 134m or 136m) as part of the new CBA.
Reaves’s early bird max can reflect a 105% multiplier based off of the 2022/23 season’s average NBA salary and tgat figure isn’t determined till the postseason ends (ie player playoff incentives get calculated in).
As of now, the avg salary estimate for this season is 10.8m, so Reaves’s starting figure would be about 11.3m. As you can see that’s roughly 1m less than the newly adjusted ntpMLE for next year. So I do expect the early bird to reflect a similar adjustment so that it is either equal or slightly more than the new ntpMLE amount.
And you are correct in that we would use the early bird exception to match any Reaves offersheet, sparing our ntpMLE to possibly use on another free agent. Even if the early bird exception doesn’t get adjusted and the ntpMLE remains the higher exception between the two, I hope the strategy we use, is to keep Reaves via his early bird while keeping our ntpMLE to use on another. _________________ Not familiar with the salary cap/CBA rules & how it impacts our Lakers?
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^I disagree bro. I don’t think it’s safe at all. Another team only needs 20-25m to make that poison pill a killer towards the 2025/26 season when the tax tiers become extremely expensive. By then, we also would project to be repeat tax offenders with Bron & AD on the cap sheet the next couple of years with us looking to retain most if not all our FAs this summer. Please see my post in the Free Agency thread for a more detailed response.
when lebron is gone, we should reset the tax immediately, so that means going under the tax threadhold for 2025-2026, if AD wants to contend, i am ok with trading him. the point is that the PP contract comes after Lebron retires which would be perfect for the Lakers. they reset the tax, going for big FA the following summer. it doesn't have to be a competitive team for that year. we just spent 90% of our cap and tank 1 year or 2.
if any team offers him that PP contract, then that's really personal grudges given how he played in the playoffs so far.
First things first, the most recent cap projection next season is 134m (8.4% increase from this season), but I still believe it goes to the full 10% of…
Cap: 136m
Tax: 165m
1st Apron: 172m
2nd Apron: 182.5m
tpMLE: 5m for up to 2yrs
-using it triggers 2nd Apron, which effectively hardcaps a team at 182.5m
ntpMLE: 12.4m for up to 4yrs
-using it triggers 1st Apron, which effectively hardcaps a team at 172m
BAE: 4.5m for up to 2yrs
-using it triggers 1st Apron & can’t be used in consecutive seasons
roomMLE: 7.7m for up to 3 years
2nd Round exception: 2.1m for up to 3-4 yrs with final year being team option
May 16th: Draft Lottery
June 22nd: NBA Draft
June 29th: Beas team option deadline & Mo’s guarantee trigger date
June 30th 3:01pm PT: New season officially begins with FA moratorium
-new trade rules go into effect (125% trade multiplier goes down to 110%
-2030 FRPs get unlocked for trades
Pre June 30th:
Mo counts as 10.3m that can bring back as much as 13m
Beas counts as 15.6m that can bring back as much as 19.6m
Both aggregated bring back as much as 32.5m
Both aggregated with Vando’s 4.4m bring back as much as 38m
Post June 30th:
Mo counts as 10.3m that can bring back as much as 11.4m
Beas counts as 16.5m that can bring back as much as 18.3m
Both aggregated bring back as much as 29.6m
Both aggregated with Vando’s 4.7m & ShaqH’s 2.4m bring back as much as 37.4m
1st Apron Triggers:
Acquiring a S&t’d player
Using ntpMLE
Using BAE
2nd Apron Triggers:
Using tpMLE
Signing buyout FA that was on a previous deal larger than the ntpMLE amount
Use of cash in a trade
Sample cap sheets for being hard capped at either Apron posted below from previous post:
vasashi17+ wrote:
Re: Sample cap sheets with use of ntpMLE/BAE hard-capping us at the 1st Apron of 172m on a projected 136m salary cap / 165m tax theshold & the use of the tpMLE hardcapping us at the 2nd Apron of 182.5m
It’s a huge ask out of DLo/Rui/Schro, but something like this works…
1. Bron 47.6m
2. AD 40.6m
3. DLo 23m (via full bird for up to a 5yr deal)
4. Rui 13m (via full bird for up to a 5yr deal)
5. Reaves 12.4m (via early bird max for up to a 4yr deal)
6. BroLo? 12.4m (via full ntpMLE on up to a 4yr deal)
7. Vando 4.7m
8. MaxC 1.7m
9. 2023 17th overall pick 3.7m
10. 2023 47th overall pick 2.1m (via new 2nd round rookie exception)
11. BAE (Schro? for up to a 2yr deal) 4.5m
12. Vet min (Gabriel?) 2m
13. Vet min (Mo?) 2m
14. Vet min 2m (or ShaqH on a nonguaranteed 2.4m)
= 171.7m team salary; just about right at the 1st apron hard cap of 172m…meaning we can’t even add a prorated 15th later in the year unless DLo/Rui/Reaves give back a couple million collectively on those projections above or we sign that 15th rostered player close to the final days of the regular season. Remember tho, we can rely on 3 two-way contracts now to help with the regular season load.
Or….
1. Bron 47.6m
2. AD 40.6m
3. DLo 25m (via full bird for up to a 5yr deal)
4. Rui 15m (via full bird for up to a 5yr deal)
5. Reaves 12.4m (via early bird max for up to a 4yr deal)
6. Beas 16.5m (ie trade fodder)
7. Schro? 5m (via full tpMLE on up to a 2yr deal)
8. Vando 4.7m
9. MaxC 1.7m
10. 2023 17th overall pick 3.7m
11. 2023 47th overall pick 2.1m (via new 2nd round rookie exception)
12. Vet min (Gabriel?) 2m
13. Vet min (Mo?) 2m
14. Vet min 2m (or ShaqH on a nonguaranteed 2.4m)
= 180.3m team salary; just about right at the 2nd apron hard cap of 182.5m…and we can add a prorated 15th later in the year even with ShaqH replacing one of those vet min spots… also Beas’s 16.5m is there as trade fodder which could bring back as much as 18.25m in inbound salary using the new 110% trade multiplier….and as you can see with that additional inbound salary difference of 1.75m, we’d be pretty much at the doorstep of the 2nd Apron.
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•Trade multipliers for non-1st apron breaching teams:
-outbound salary up to 7.5m: up to 200% + 250k in incoming salary
for example, a non-tax team can send out a 5m player and bring back a 10.25m player
-outbound salary is between 7.5m and 29m: up to outbound amount + 7.5m in incoming salary
for example, a non-tax team can send out a 10m player and bring back a 17.5m player
-outbound salary is more than 29m: up to 125% + 250k in incoming salary
for example a non-tax team can send out a 20m and bring back a 25.25m player
•The tax theshold under the old CBA was computed using a %age of the BRI, but in the new CBA, the tax line, like everything else, is scaled on how the salary cap increases from year to year.
The new punitive tax bands will go into effect by the 2025/26 season:
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Non-repeater Tax / Repeater Tax rates are as follows (total tax amounts for each band are within parentheses) :
•new 2nd round exception can be given to player for up to 3 years w/o including 4th year team option or up to 4 years via included team option;
-if it’s a 3yr deal, the starting salary can be up to scaled amount of a 1 seasoned player for the first 2 years based on whatever the salary cap is followed by the 3rd year paying what a 3 seasoned player would get in their 3rd year based on that scale ;
for example, MaxC is currently on a yr1: 1.02m, yr2: 1.72m contract using the veteran minimum exception…however via this new exception, he could have been signed to a 3yr deal breaking down this way:
Yr1: 1.64m
Yr2: 1.72m
Yr3: 2.02m
-if it’s a a 4yr deal, the starting salary can be up to a scaled amount of a 2 seasoned player for the first 2 years followed by yr 3 being what a 3 seasoned player would get, followed by a team optioned 4th year that would pay what a 4 seasoned player would get based on that scale;
for example, that 4yr contract would breakdown like this:
Yr1: 1.84m
Yr2: 1.93m
Yr3: 2.09m
Yr4: 2.26m (via team option) _________________ Not familiar with the salary cap/CBA rules & how it impacts our Lakers?
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Last edited by vasashi17+ on Thu May 18, 2023 11:49 am; edited 2 times in total
In other words, stay under the first apron and stay out of the repeater. Otherwise, ask yourself if that player you signed for the TPMLE who will probably towards the end of your rotation is worth at least $15 million in taxes. I think this will really impact the middle class of players unfortunately. _________________ Luxury Tax/FA Spreadsheet (Save to your Google Drive to edit)
Up to $6.53m in outgoing salary can bring back 175% + $100k
$6.54m to $19.6m was padded by a flat $5m
Above $19.6m was limited to 125% + $100k
As of July 1, for teams below the 1st apron:
Up to $7.5m in outgoing salary can bring back 200% + $250k
$7,500,001m to $29m will be padded by a flat $7.5m
Above $29m will be limited to 125% + $250k
As of July 1, only teams above the first apron will be locked into the lowest level of salary matching—and instead of 125%, for 2023-24, it drops to 110% without the additional $100k.
One day after the end of the 2023-24 regular season, salary matching drops to just 100%.
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Starting in July 2024, teams can use non-taxpayer or room mid-level and bi-annual exceptions to acquire a player via trade or waivers.
For non-simultaneous traded player exceptions, generally called “trade exceptions (TPEs),” the padding is also increased from $100k to $250k.
After the final day of the 2023-24 regular season, over-apron franchises cannot use prior-generated TPEs. And those above the second apron won’t even have a taxpayer mid-level exception, can’t get a player back in return for one going out via sign-and-trade, won’t be able to send out cash in trade and can’t even aggregate contracts.
From July to December 15 (of each season), if the number of aggregating players going out is larger than the number coming back, only one minimum contract can be included in that aggregation. However, from Dec 15 to that season’s trade deadline, the amount of minimum contracts included in trade aggregation is not capped at just one.
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