Kings apparently below the cap
From the Members update email today:
"I want to congratulate Chris particularly, as he was given serious financial constraints going into this off-season. Last season was a financial disaster, and ownership formed the view that we needed to bring a very prudent approach to salaries for NBL22. I can tell you that many players took less money than on offer elsewhere, or signed on without going to market, accepting our offer. What was clear to us through these actions is that our players really want to play for the Kings and have made financial sacrifices to do so.
There is always speculation around the league as to which clubs spend to buy a Championship. Essentially, Chris was set a target to be under the salary cap so that we would not pay any luxury tax this season. The luxury tax is imposed by the NBL on teams that spend over the allowable limit (the soft cap), and our current spend puts us below this. The NBL does not allow clubs to announce their player payroll, but I am committing to sharing with you if we have any salary tax obligations and if so, what they are. I would welcome all clubs to do this to allow fans to get some perspective on the relative payrolls, without divulging specific player salaries."
Interesting comment in that final sentence there also. Kings look solid this season, although NS obviously doesn't come out of the cap. Ware was also supposedly one of/the highest paid import in the league, so subtract his coin, assume Hunter is on 50% of what Ware was on and maybe it adds up.