The NBA salary cap for the 2016–17 season will be set at $94 million, reports The Vertical’s Shams Charania.
Earlier this season the cap was expected to be set around $92 million. The figure, which is calculated based on the league’s basketball-related income, will be finalized in early July.
The salary cap is spiking this off-season, thanks in large part to the NBA’s new media contracts, which are much richer than in previous years. The salary cap for the current season is $70 million, which means the cap will jump nearly $24 million.
The large jump means many teams will have lots of salary space this off-season, when players such as Kevin Durant, Al Horford and Mike Conley are expected to test free agency.
The new NBA league year begins in July.