My annual review of money and how it has been spent finds a total of approximately $2.03 billion was obligated to the players, which, by my count, amounts to a reduction of $82.3 million in player salaries since last season.
Five Least Efficient Franchises

1. Toronto Raptors, $3.15 million per win. Note that the two least efficient payrolls were the two teams abandoned last summer by Bosh and James. Much like the Cavaliers with James, the Raptors had invested in trying to build a winner around Bosh, only to see the building collapse when its foundation was removed. They don't have a player making $10m, and Andrea Bargnani is worth his $8.5m, but the contributions of Jose Calderon ($9.0m) and Leandro Barbosa ($7.1m) are hard to justify on a losing team.
Five Most Efficient Franchises

1. Chicago Bulls, $910,000 per win. The Bulls are benefiting from a couple of tremendous drafts, as presumptive MVP Derrick Rose (paid $5.5 million this season) and Joakim Noah ($3.1m) are still earning their original contracts. Their payroll won't be quite so attractive in the future -- Noah's salary jumps to $12.0 million next season, and Rose will eventually be a max player -- but the skeleton of an eventual championship team has been assembled. Luol Deng makes an expensive $11.3 million, but he has played in every game and the Bulls could not have finished No. 1 in the East without him. Carlos Boozer is their biggest earner at $14.4 million, while Kurt Thomas ($1.8m), Keith Bogans ($1.6m) and Taj Gibson ($1.1m) provide an excellent return. Each of the Bulls' 11 most expensive players contributed to the team's terrific season.
Source: SI.com