New York: The NBA salary cap has been set for next season at $70 million (Dh257.46 million), a higher-than-expected number that paves the way for free agent contracts to be signed.
The league says on Wednesday the cap increased by 11 per cent and the 2015-16 cap will be the highest ever. It had been projected to come in closer to $67 million until recently.
With the cap set, the league’s moratorium will be lifted at midnight, and deals and trades that were agreed to since free agency opened on July 1 can become official beginning Thursday at 12:01am. EDT.
Also, the tax level increased 10.3 per cent to $84.7 million.
