While the world is focused on the DeAndre Jordan hostage situation free agency mess, the NBA released some good news for most of the league late Wednesday night. The league has set the salary cap for the 2015-16 season at a record-high of $70 million.
The cap for next season has been raised by 11 percent, a surprising development after it had initially been projected to come in at around $70 million. Now that the cap has been set, the NBA will officially drop its moratorium on free agent signings at 12:01 a.m. EDT on Thursday.
The increased cap shows that the league is healthy right now and it will help teams fit more talent on their rosters. Meanwhile, the luxury tax level has been increased 10.3 percent to $84.7 million. Franchises that go over that mark will be subjected to penalties.
The NBA’s salary cap is expected to jump to around $90 million for the 2016-17 season when the league’s new national television contract starts.
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