NEW YORK — The NBA salary cap was set Wednesday for next season at $70 million, a higher-than-expected number that paves the way for free agent contracts to be signed.

The league said the cap increased by 11 percent from last season's $63.1 million and the 2015-16 cap will be the highest ever — though it will be shattered next summer. It had been projected to come in closer to $67 million until recently.

Also, the tax level increased 10.3 percent to $84.7 million. Teams whose payrolls exceed it will be subjected to penalties.

The salary cap is derived in part on league revenues. It is expected to vault to about $90 million for the 2016-17 season, when the league's new national TV contracts begin.

In the meantime, there's plenty of money for teams and players next season. Maximum salaries will rise, because they are based on a percentage of the cap, depending on a player's years of service.

There will be three spending exceptions available to teams. The non-taxpayer mid-level for this season is $5.5 million, the taxpayer mid-level is $3.4 million and the mid-level for a team with room under the salary cap is $2.8 million.

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.