Market Overview

NBA Payroll Set For Large Increase

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NBA Payroll Set For Large Increase
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The 2016 NBA draft is underway and with longtime consensus #1 pick Ben Simmons going to the Philadelphia 76ers.

Simmons, a versatile 6'10" forward from Australia has been projected as the top selection in the league for some time.

At the NBA draft, Commissioner Adam Silver announced the 2016 NBA finals were the most watched finals in league history.

The NBA salary cap has been increasing steadily every year; the 2015–2016 season saw the salary cap at $70 million.

Related Link: Adidas Making Aggressive Moves In NBA Endorsements With Upcoming Draft Class

The league signed a massive nine-year, $24-billion media contract with ESPN (Walt Disney Co (NYSE: DIS)) and Turner in 2014. That new deal will go into effect during the upcoming season, and 50 percent of the deal will go directly to the players.

Because of the new deal, the salary cap is set undergo a big increase, $94 million in the 2016–2017 season, which will then jump to to $110 million in '17–18, a report from Slam Online read.

Brandon Ingram from Duke University was the #2 pick in the draft by the Los Angeles Lakers. New adidas AG (ADR) (OTC: ADDYY)-signing Jaylen Brown went third to the Boston Celtics.

Posted-In: 2016 NBA Draft Adam Silver Ben SimmonsNews Sports Media Trading Ideas General Best of Benzinga

 

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