What the Brandon Miller Extension Will Actually Cost Hornets Annually

Just before the deadline to do so, the Charlotte Hornets and Brandon Miller agreed to a five-year, $209 million rookie-scale extension. It is well below the max, and it sits just ahead of the Amen Thompson extension in terms of 2023 draftees.

NBA contracts can be tricky, though. It is often not as straightforward as dividing the money by the years. There's a whole lot more that goes into it than that. So, what is the Miller contract actually going to cost the Hornets?

Interestingly, the contract isn't front-loaded or back-loaded, per se. It fluctuates every year. It doesn't kick in until 2027-28. So, for now, Miller is still making just over $15 million. That number jumps to:

• $44 million in 2027-28
• $41.2 million in 2028-29
• $37.68 million in 2029-30
• $41.2 million in 2030-31
• $44.72 million in 2031-32

The contract starts high and ends high, but there is a brief respite in the middle. That 2029-30 figure in particular suggests the Hornets might have something up their sleeve, since they will have just a bit of extra cap space.

This is, ultimately, a good deal for the Hornets. It's a little more than Miller is worth right now, but it's less than he is undoubtedly going to be worth in the future. There's obviously a risk, but this is a far better outcome than letting him play out this season and potentially earn the max. This gives Charlotte a lot more flexibility.

How does that translate to the salary cap? In 2026-27, before the extension kicks in, the Hornets are $37.5 million below the first apron, so they're not in a bad spot. They have negative cap space, but most NBA teams do, because they still rank fourth in space.

In 2027-28, the first year of the extension, the Hornets will be $19.4 million over the cap but still have $50.8 million before the first apron. Beyond that, the Hornets just don't have that many long-term contracts.

Miller's deal goes until 2032. Naz Reid's will end in 2030. Hannes Steinbach and Christian Anderson Jr. will see their rookie deals run out that year, too. Otherwise, the Hornets don't have a lot of long-term deals like this one.

Pretty soon, though, Kon Knueppel will join Miller in getting an extension, and that will really complicate things. He may not get the max, either, so having two major extensions below the max will set Charlotte up nicely. Other teams (Oklahoma City, namely) are struggling with the second apron because of multiple max contracts.

So, while Miller's deal absolutely does add financial stress down the line, the Hornets are still in good shape as it pertains to the salary cap.

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