When the league first started guessing at what the NBA Salary Cap for the 2015-16 season would be, they were suggesting $67 million would be about right. Then during the July Moratorium, there was an oops, maybe that should be $69 million. Now it looks like even that guess wasn’t high enough. Get out your calculators and increase those estimates of available cap space after all those free agent commitments, the 2015-16 Salary Cap will be set at $70 million.
Correspondingly the luxury tax line will jump to $84.7 million and the apron, which becomes a hard cap under a whole host of common scenarios, will be $88.7 million.
This means a whole lot of teams still have room to maneuver in free agency and a new flurry of deals should get done over the next few days. The uncertainty over the salary cap during the Moratorium period likely caused a lot of general managers pause at the end, but they can take the gloves off and get back to work in earnest now.
While this could be a game changer for a lot of teams, it’s an even bigger windfall for those free agents still sitting on the sidelines.
Official NBA Press Release
NBA SALARY CAP FOR 2015-16 SEASON JUMPS TO $70 MILLION
NEW YORK, July 8, 2015 – The National Basketball Association today announced that the Salary Cap has increased by 11% to an all-time high of $70 million for the 2015-16 season. The tax level for the 2015-16 season increased by 10.3% to $84.740 million.
The Salary Cap and tax level go into effect at 12:01 a.m. ET on Thursday, July 9, when the league’s “moratorium period” ends and teams can begin signing free agents and making trades.
The minimum team salary, which is set at 90% of the Salary Cap, is $63 million for the 2015-16 season.
The current Collective Bargaining Agreement provides for three different mid-level exceptions depending on a team’s salary level. The non-taxpayer mid-level for this season is $5.464 million, the taxpayer mid-level is $3.376 million and the mid-level for a team with room under the Salary Cap is $2.814 million.