Free agency gives every team in the NBA an opportunity to reshape their roster.
In theory, at least.
While no team is restricted from participating in free agency, they are limited with how active they can be depending on the amount of money they have available to spend, otherwise known as cap space.
Spotrac projects the NBA's cap to be at $136 million for the 2023-24 season. How much a team is under that number determines how much money they can freely spend in free agency. Once they reach it, they are much more restricted with the types of contracts they can offer free agents.
So which teams are expected to have the big bucks in the 2023 offseason?
Every team's space available to sign free agents in 2023 offseason
There aren't many teams that are projected to have cap space this offseason.
The Rockets are at the top of the list with as much as $59.8 million to spend, which will allow Houston to be aggressive in free agency. In addition to James Harden, the franchise has been linked to Brook Lopez, Fred VanVleet and Austin Reaves, who are among the best players in this year's free-agent class.
The Magic, Spurs, Jazz, Pistons, Thunder and Pacers are the other teams Spotrac projects to be operating under the cap. That means the 23 remaining teams in the league would be operating over the cap.
| Rank | Team | Cap space |
| 1 | Rockets | $59,783,491 |
| 2 | Spurs | $37,477,403 |
| 3 | Pacers | $32,152,523 |
| 4 | Pistons | $27,819,304 |
| 5 | Jazz | $25,067,675 |
| 6 | Magic | $22,801,227 |
| 7 | Thunder | $16,605,285 |
| 8 | Raptors | $-13,691,917 |
| 9 | Hawks | $-15,381,398 |
| 10 | Knicks | $-23,244,819 |
| 11 | Kings | $-26,734,430 |
| 12 | Grizzlies | $-27,239,094 |
| 13 | Wizards | $-31,831,794 |
| 14 | Cavaliers | $-38,383,522 |
| 15 | Hornets | $-41,165,323 |
| 16 | Bucks | $-41,293,771 |
| 17 | Bulls | $-47,308,575 |
| 18 | Lakers | $-53,563,498 |
| 19 | Celtics | $-54,344,044 |
| 20 | Nets | $-55,254,896 |
| 21 | Pelicans | $-58,747,990 |
| 22 | Nuggets | $-59,528,713 |
| 23 | Heat | $-60,453,094 |
| 24 | Timberwolves | $-65,762,602 |
| 25 | Warriors | $-65,824,850 |
| 26 | 76ers | $-67,412,809 |
| 27 | Clippers | $-67,535,209 |
| 28 | Mavericks | $-67,581,788 |
| 29 | Suns | $-70,553,928 |
| 30 | Trail Blazers | $-77,838,630 |
Wait, aren't the Lakers expected to have cap space?
They could, but it depends on a few factors.
The only players the Lakers currently have under contract for the 2023-24 season are LeBron James, Anthony Davis, Malik Beasley (team option), Mo Bamba, Jarred Vanderbilt and Max Christie. Even with James and Davis combining to make $87.5 million next season, the Lakers could create around $30 million in cap space.
The catch? It would require them to not re-sign D'Angelo Russell, Rui Hachimura and Austin Reaves, each of whom played important roles in L.A.'s trip to the Western Conference Finals.
Reaves in particular is expanded to command a big contract as a restricted free agent. The Athletic's Jovan Buha recently said that the Lakers are going to match any contract offer sheet Reaves signs up to $100 million.
If the Lakers sign Reaves to that sort of contract, they can kiss their cap space goodbye.
When does NBA free agency start in 2023?
- Expected start date: Friday, June 30
- Expected start time: 6 p.m. ET | 3 p.m. PT
The free agency period will start at 6 p.m. ET on June 30 when teams will be able to negotiate with free agents.