Offseason Primer: Charlotte Hornets
Current Roster Outlook (*Excluding two-way contracts*)
Cap Outlook: (*All cap projections courtesy of Spotrac*)
2024-2025 NBA Salary Cap Projection: $141M
Luxury Tax Line: $171M
Luxury Tax 1st Apron Maximum: $178M
Luxury Tax 2nd Apron Maximum: $189M
Charlotte’s Total Cap Allocations (Active Roster Salary Commitments + Cap Holds): $147M
Practical Cap Space: $-5M
Maximum Possible Cap Space (All options declined, cap holds renounced and exceptions waived): $32M
Possible Financial Avenues:
Charlotte’s financial flexibility is largely dependent on what they decide to do with Miles Bridges. If they let him walk, the Hornets could be looking at close to $30M in cap space, depending on what they do with the numerous non-guaranteed contracts on their books. If they re-sign Bridges, or deal him elsewhere as part of a sign & trade, they will be over the cap but should have plenty of room below the $171M luxury tax line.
Bottom Line:
Charlotte has a choice to make. They can keep Miles Bridges, or keep his salary slot on their books via a sign & trade, and have the Non-Taxpayer Mid-Level Exception to utilize. Alternatively, they can let Bridges walk, opening up a fairly sizable amount of cap space, as well as the Room Exception.
Organizational Direction:
After years of wading through the wilderness of mediocrity during Michael Jordan’s tenure, Charlotte’s new ownership seemingly ushered in a new phase of team building at the 2024 trade deadline. In trading away Terry Rozier, P.J. Washington and Gordon Hayward, the Hornets finally prioritized asset collection and financial optionality, rather than chasing the bottom of the Eastern Conference playoff picture.
The good news for Charlotte is that their current rebuild isn’t starting with a completely barren cupboard. Even though he’s coming off an injury-ravaged season, LaMelo Ball is a solid young shot creator and playmaker. Brandon Miller is another exciting piece, as he had a very strong close to his rookie season, and looks to be a part of the long-term core. The Hornets are still most likely headed for the bottom of the standings in ‘24-25, and rolling the dice on another lottery pick in the 2025 draft is probably the best thing for the franchise long term. However, there’s a distinct chance that Charlotte is able to hit the best of both worlds for a “tanking” team: Remaining moderately competitive and showcasing young, talented players to be excited about to their fans, while still losing enough games to not seriously alter their draft positioning.
Offseason Checklist:
1) Make a decision on Miles Bridges
If their most recent moves are any indication, I’m betting that Charlotte would love to collect assets in return for Miles Bridges and continue to reset their roster, but given that there are multiple teams with cap space that could just sign Bridges outright, they have to be careful not to show their cards too quickly. Even if they lose Bridges for nothing, it’s not the end of the world, as that would open up their books to be prime dumping ground for teams looking to shed unwanted salary. Charlotte would be able to add draft capital in that scenario as well, albeit perhaps slightly less valuable future selections.
If the Hornets retain Bridges, he’s still young enough (26) to be a part of their next great team, and he’s a decent fit next to both Ball and Miller. Depending on how much he commands on his next contract, fitting him into their long-term salary structure probably wouldn’t be too much of an issue, and either way, they could always trade him at some point down the line. However, given his off-court transgressions and his somewhat shot-hungry style of play, it does seem like a fresh start might be the preferable option for Charlotte.