As Wembanyama cemented his position as the top pick, the Spurs experienced a boost in ticket sales.
As expected, the San Antonio Spurs have chosen Victor Wembanyama as their first pick in the 2024 NBA Draft. Wembanyama, a highly acclaimed French athlete, has been compared to LeBron James in terms of his potential. Fans are excited about this news and it has resulted in a surge of season ticket memberships for the Spurs. The team officials have reported that the number of new memberships has increased from 2,500 to over 4,000 since the NBA Lottery last month. This is sure to boost the team’s attendance rates, which previously ranked 25th in the NBA with an average of 16,937 fans per game. Even before joining the league officially, Wembanyama’s games have already captured 350 million views on NBA’s social media channels, making him the eighth most popular player. Once the NBA schedule for the coming season is announced later this summer, there is expected to be a surge in the secondary ticket market.
In financial news pertaining to the NBA, projections indicate that the salary cap for the 2023-24 season is expected to be around $136 million, which is $2 million more than the previous estimates from September. Additionally, the luxury tax threshold is anticipated to increase to $165 million for the upcoming season, which is a $3 million jump from the initial prediction. It should be noted that these numbers are not yet confirmed as they are subject to a financial audit later this month. Nevertheless, the fact that these figures are in line with the maximum yearly percentage increases allowed under the NBA’s labor agreement with the NBA Players Association suggests that the league’s revenue continues to grow steadily and it remains in good financial health.