The Spurs ticket sales had a boost as Wembanyama confirmed his position as the top pick.
On Thursday, the San Antonio Spurs made Victor Wembanyama, a highly acclaimed French athlete, their first choice in the 2024 NBA Draft, as many had expected. With his addition to the team, Wembanyama, who is considered one of the most sought-after prospects since LeBron James, fans’ excitement has only increased. The Spurs have already seen a surge in season ticket membership sales since the NBA Lottery last month, with over 4,000 new memberships sold and no signs of slowing down. This increase in attendance is expected to boost the Spurs’ ranking, which was previously 25th in the NBA team attendance ranking, with an average of 16,937 fans per game last season. Interestingly, even before officially joining the league, Wembanyama’s games have already captivated 350 million views on NBA social media channels, placing him eighth among all players. There are also expectations of a surge in the secondary ticket market once the NBA schedule for the coming season is announced later this summer.
The NBA’s projected salary cap for the 2023-24 season has been reported to be around $136 million, which is an increase of $2 million from earlier estimates in September. This marks a steady rise in the league’s revenues and signals its robust health. Additionally, the luxury tax threshold for the upcoming season is expected to reach $165 million, up by $3 million from the first estimate. These initial estimates are very close to the maximum yearly percentage increases allowed under the NBA’s labor agreement with the NBA Players Association. The final figures will be confirmed after a financial audit later this month.