NBA's salary cap set at $94.1 million
NEW YORK (AP) The NBA's salary cap for the 2016-17 season has been set at $94.1 million, a huge leap from last season that has led to the enormous deals being given players in free agency.
The cap last season was $70 million. The increase was largely because of revenue increases tied to the league's new national TV deals, worth about $2.5 billion a year, that begin next season.
The new cap will go in effect at 12:01 a.m. EDT on July 7, ending the league's moratorium period and allowing teams to sign players and make trades.
The tax level will be set at $113.3 million and the minimum team salary, which is 90 percent of the cap, is $84.7 million.
Also, the mid-level for non-taxpayer teams is $5.6 million. The taxpayer mid-level is $3.5 million and the mid-level for a team with room under the cap is $2.9 million.