NBA Salary Cap Set At $70 Million
June 9, 2015 (The Sports Xchange) — Hours before teams could officially begin signing free agents, the NBA announced Wednesday evening that the salary cap for the 2015-16 season was set at $70 million.
The cap number is higher than expected — the largest in league history — and an 11 percent increase over last season. The cap was projected to be around $67 million.
The luxury-tax threshold level also rose 10.3 percent to $84.74 million, which is more than $3 million higher than the projected level.
The league’s moratorium on player signings ends at midnight Thursday. Free agency opened July 1 and players and teams have been reaching agreements on deals since then.
The higher cap and tax amounts will give teams more money to spend during the free-agency period.
Maximum player salaries will now be $16.4 million for up to six years of service, $19.7 million for seven to 10 years and $23 million for more than 10 years in the league.
The Collective Bargaining Agreement allows three mid-level exceptions based on a team’s salary level: $5.5 million for non-taxpayers, $3.4 million for taxpayers and $2.8 million for teams under the salary cap.
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