The NBA released their annual All-NBA teams on Tuesday evening, and the announcement directly impacted the Atlanta Hawks organization. Hawks star point guard Trae Young was selected to All-NBA third team, which kicks in his super max extension and makes him a whole lot more money over the next five years.
Trae Young has earned an additional $35.4M in his rookie scale contract for being named All-NBA. The Young $177M rookie extension will now increase to $212M.— Bobby Marks (@BobbyMarks42) May 25, 2022
The Hawks will take on an additional $6.1M cap hit in 2022/23 and are now $7.8M over the luxury tax.
Young making the All-NBA team effectively hurts the Hawks in terms of the salary cap, as they will be a bit more constricted in terms of cap space as well as the luxury tax with their point guard now making a few extra million annually.
Atlanta can go under the tax if they waive Danilo Gallinari. His $21.5M contract is guaranteed for only $4.5M with the remaining balance guaranteed is he is not waived by 6/29. https://t.co/olwjm9aQhW— Bobby Marks (@BobbyMarks42) May 25, 2022
Here’s a look at the entire list of 2021-22 All-NBA teams, headlined by a first team of Nikola Jokic, Giannis Antetokounmpo, Luka Doncic, Devin Booker and Jayson Tatum.
2021-22 All-NBA teams:— Shams Charania (@ShamsCharania) May 25, 2022
First: Nikola Jokic, Giannis Antetokounmpo, Luka Doncic, Devin Booker, Jayson Tatum
Second: Joel Embiid, Ja Morant, Stephen Curry, Kevin Durant, DeMar DeRozan
Third: Karl-Anthony Towns, LeBron James, Chris Paul, Trae Young, Pascal Siakam
The conference finals roll on in the meantime, but later this summer the Hawks will be looking to retool and reload with a little bit less money in their pockets. Atlanta was named in a piece by Jake Fischer of Bleacher Report on Tuesday as well as a team that could be in store for big changes this offseason.