NEW YORK — The NBA has set the 2014-15 salary cap at $63.1 million, an all-time high, paving the way for contracts to be signed.
Deals can become official starting at 12:01 EDT on Thursday. Players and teams could agree to contracts starting July 1, but they couldn’t be signed during the moratorium period.
The cap is a 7.5 percent increase from last season’s $58.7 million.
The league also says Wednesday that the tax level jumped 7.1 percent to $76.8 million. Teams exceeding that will have to pay a luxury tax.
Here’s a full breakdown of the numbers:
Salary Cap: $63,065,000
Team Tax Level: $76,829,000
Minimum Team Salary: $56,759,000
Exception Levels
Non-Taxpayer Mid-Level Exception: $5,305,000
Taxpayer Mid-Level Exception: $3,278,000
Room Mid-Level Exception: $2,732,000
Est. Avg. Player Salary (Early Bird): $5,632,000
Bi-Annual Exception: $2,077,000
Maximum Player Salary
0-7 Years of Service: $14,746,000
7-10 Years of Service: $17,695,200
10+ Years of Service: $20,644,400
2013-14 Escrow Refund
Players will receive back approximately 6.5 percent of all salary withheld for the 2013-14 season.
