1994 NBA Champion: Houston Rockets
League Salary Cap: $15,175,000
Championship-Caliber Contract: Hakeem Olajuwon
The Houston Rockets capitalized on the Michael Jordan sized void and picked up their only championships in his absence, although it should be noted Jordan did play in the 1995 playoffs. The Rockets were a ligament contender, won 58 games, and featured the league MVP and defensive player of the year in Hakeem Olajuwon.
The primary reason the Rockets were able to capitalize on Jordan’s first retirement was because of Hakeem Olajuwon. He won his only MVP, two championships, and made it impossible for anyone to question him getting drafted ahead of Jordan. His 18.6 Win Shares, while still below Michael Jordan levels, was valued at $6.77 million, 44.6 percent of the salary cap. Peak Hakeem was a game wrecking force on defense and efficient on offense. His salary of $3.17 million taking up 20% of the salary cap was simply the cherry on top.
Players as good as Hakeem, that late into their careers simply don’t come any cheaper. To make matters even sweeter for Houston, Hakeem absolutely dominated in the postseason. He averaged 28 points, 11 boards, and 4 blocks and led Houston in points, rebounds, assists, blocks, and steals through Houston’s 23 game run to the championship. Hakeem is an all-time great that lived up to the hype, while also being in the shadow of Jordan. No other player of his generation was able to do so.
Salary cap check-in
The salary cap went from right under $10 million in 1989-90 to a shade over $15 million in 1993-94. The salary cap did not see the same explosive growth as it had over its first five years. However, an increase of nearly 50 percent is still a fantastic return in five years. The NBA was about to enter a financial golden-age. Awash with new revenue streams and the globalization of the game, the NBA’s new financial realities would alter the trajectory of the league and allow for the Bulls to reclaim their title as the best team in the league.