Despite finishing at the bottom of the Western Conference with a 21-61 record, the Portland Trail Blazers still somehow find themselves in desperate need of cutting their spending. According to Shams Charania of The Athletic, the NBA's projected salary cap for next season is expected to be $141 million.
The NBA informed teams today that it is projecting the 2024-25 salary cap to be $141 million — $1M lower than previous June 30, 2023 projection. The salary cap this season was set for $136M.
— Shams Charania (@ShamsCharania) January 30, 2024
The Trail Blazers are already over that limit with seven players alone, who are owed $145 in total. Rip City must make a trade this offseason to address this massive issue.
Blazers must alleviate salary pressure this offseason
The Trail Blazers currently have $167 million tied up in contracts, which is not even accounting for the salaries of their incoming draft picks. Factoring those in, Portland will be over the $171 million luxury tax and uncomfortably close to approaching the first apron. This is all despite their two most promising players, Scoot Henderson and Shaedon Sharpe, still on rookie deals.
Something has to give this summer, and trading one or multiple of their substantial contracts seems inevitable. Portland's four highest-paid players are currently Deandre Ayton ($34 million), Jerami Grant ($30 million), Anfernee Simons ($26 million), and Malcolm Brogdon ($22.5 million).
Contracts that Rip City can offload
Of these four, Malcolm Brogdon seems like the most straightforward piece for the Blazers to move. Brogdon is 31 and doesn't fit with Portland's long-term plans. He's also on an expiring contract; the Blazers don't have much incentive to retain him beyond this season, given their excess number of guards and the fact that they aren't close to becoming a legitimate playoff contender.
While Brogdon seems the most obvious to be involved in a potential trade, the player whose contract the Blazers should prioritize getting off of is Jerami Grant. Grant has four years remaining from his five-year, $160 million contract signed last offseason. It's in Portland's' best interest to dump his salary if they can find a suitor, likely a contending team.
Whether it's Brogdon, Grant, or another hefty contract, Rip City must shake up its roster this summer for financial reasons. Given their lack of success last season, there's no reason the Blazers should aggressively spend this much and take on tax obligations.