Report: Salary cap for 2016–17 will be $94 million

The NBA salary cap for the 2016–17 season will reportedly be set at $94 million.

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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.

• Everything you need to know about Durant’s free agency

The new NBA league year begins in July.