The Wemby Effect: Spurs season ticket sales surge

In a move that was anticipated by many, the San Antonio Spurs made Victor Wembanyama, the highly acclaimed French athlete, their first choice in the 2024 NBA Draft on Thursday. Wembanyama, who is arguably the most sought-after prospect since LeBron James, is now officially a member of the team, a fact that is sure to fuel the fever of fans.

Following the NBA Lottery last month, the Spurs had already seen a surge of over 2,500 new season ticket memberships. As per the Spurs' officials in conversation with Front Office Sports, this number has now surged past 4,000 and shows no signs of slowing down.

This influx of season ticket sales will certainly give the Spurs' attendance rates a boost. Previously, they held the 25th position in the NBA team attendance ranking, attracting an average of 16,937 fans per game in the last season. Interestingly, even prior to officially joining the league, Wembanyama's games have already captivated 350 million views on NBA's social media channels last season, placing him eighth among all players. Additionally, there are expectations of a surge in the secondary ticket market once the NBA schedule for the coming season is announced later in the summer.

Salary Cap news

In related financial news, the NBA's salary cap for the 2023-24 season is projected to be around $136 million - an increase of $2 million from earlier estimates in September and up from $123.655 million for the 2022-23 season. This is according to various reports. The luxury tax threshold for the upcoming season is expected to reach $165 million, a $3 million increase from the first estimate.

The final figures will be confirmed only after a financial audit later this month. However, these initial estimates are very close to the maximum yearly percentage increases allowed under the NBA's labor agreement with the NBA Players Association. This signals the robust health of the league and indicates a steady rise in its revenues.