Interesting piece by CJ Moore in The Athletic. It's paywalled, and there is plenty more nuance in the article, but I'll share this much of it:
The GM ballparked the price of the current market:
• Borderline starter? “An agent will start at $1.5 million.”
• A definite starter, but not all-conference? “$2.5 million.”
• A player projected to be all-conference? “$3 million and above.”
• A player projected to be an NBA Draft pick? “$3 million floor. Basically, it’s 30 percent of your budget. So if you’ve got $12 million, that guy is likely up to $4 million.”
The GM ballparked the price of the current market:
• Borderline starter? “An agent will start at $1.5 million.”
• A definite starter, but not all-conference? “$2.5 million.”
• A player projected to be all-conference? “$3 million and above.”
• A player projected to be an NBA Draft pick? “$3 million floor. Basically, it’s 30 percent of your budget. So if you’ve got $12 million, that guy is likely up to $4 million.”