If eligible for the designated veteran player extension, what must the player's salary be in the first year of extension?

The designated veteran player extension allows certain eligible players to receive a significant increase in their salary when they renew their contract. For the first year of the extension, the player's salary is required to be at least 30% and can go up to a maximum of 35% of that year's salary cap. This structure is designed to reward players who have achieved a high level of performance and have met specific criteria, such as being an All-Star or making an All-NBA team, while still ensuring that player salaries remain in line with the overall salary cap dictated by the league. Thus, the requirement that the salary be at least 30% and no more than 35% aligns with these goals, balancing player compensation with team payroll management.