What's the minimum NBA salary rate for veteran's for the 2024-25 season?
Heading into the 2024-25 NBA season, what is the minimum salary rate for veteran's in the Association?
Every year, the NBA's minimum salary plays an important role in free agency. In some ways, it helps set up a market for many free agents across the league. At the very least, it gives every free agent a starting point in where they should begin negotiations. Looking back at this year's NBA Free Agency period, there were many players who ended up signing minimum contracts.
Of note, Tyus Jones and Gary Trent Jr. were two of the bigger names on the open market who ended up signing for veteran minimum contracts. Jones inked with the Phoenix Suns in hopes of being able to compete for a championship as a starting point guard while Trent Jr. took somewhat of a "prove-it" deal with the Milwaukee Bucks as he will attempt to rebuild his reputation across the league before hitting the free agency market once again next summer.
More often than not, we hear veteran's minimum but we don't really know what that means to the exact dollar. Thankfully, there is a minimum salary scale that makes it so much easier to keep track of.
The minimum salary for the 2024-25 NBA season
The minimum salary in the NBA is not one flat rate. It elevates depending on years of service in the league, as you would assume. Here are the general rate minimum contracts in the NBA for the 2024-25 season:
Years of Experience - Salary
0 - $1.16M
1 - $1.86M
2 - $2.09M
3 - $2.16M
4 - $2.24M
5 - $2.43M
6 - $2.61M
7 - $2.80M
8 - $2.99M
9 - $3.00M
10+ - $3.30M
As you would expect the minimum contract in the NBA has risen over the past few years and that's going to continue to be the case as the salary cap continues to rise. And as the minimum contracts continue to rise, it will be interesting to see how this could impact free agency as we know it moving forward.
If these numbers continue to rise, could it open the door for more players electing to take on minimum contracts? Or will it still be viewed the same considering that many of the other contracts are also going to rise with the elevating salary cap?
As the league continues to grow as a whole, it will also be interesting to see how the minimum contract in the league evolves as well.