NEW YORK (AP) - The NBA has set next season's salary cap at $58.7 million, paving the way for contracts to be signed starting Wednesday.
The tax level is $71.7 million, with harsher penalties starting this season for teams that exceed it. Teams formerly paid $1 for every $1 they were over, but the penalties now start at $1.50 for teams up to $4.9 million over, with increases from there.
Contracts such as the one Dwight Howard agreed to with Houston couldn't be signed during the league's moratorium period while the cap was calculated.
The cap is a slight increase from this season's $58 million.
The mid-level exception for non-taxpayers is $5.15 million. It's $3.2 million for teams over the tax, and there's a mid-level worth $2.7 million for teams with room under the salary cap.

Top NBA Public Bets

NBA Top Stories

Thumbnail Knicks trade for Derrick Rose The Chicago Bulls and New York Knicks made a big trade on Wednesday when the Knicks acquired Derrick Rose in a...
Thumbnail 2017 NBA Finals Odds With the NBA Finals now complete, here is a look ahead to which teams will be favored to contend for next year’s championship.
Thumbnail NBA Finals Game 7 Pick It’s all come down to one game. Who will prevail in Game 7 of the NBA Finalsas the Golden State Warriorshost the Cleveland Cavaliersat 8PM ET?
Thumbnail NBA Finals Game 7 Total Pick Will Game 7 of the NBA Finalsbe another high-scoring affair, or will it be a grind out between the Golden State Warriorsand Cleveland...
Thumbnail NBA Finals Game 6 Pick Can the Golden State Warriors get back on track in Game 6 of the NBA Finals or will the Cleveland Cavaliers create...
More inNBA Articles  

NBA Team Pages