The NBA announced late Friday night that the salary cap has been set at $99.093 million for the 2017-18 season, with the tax level at $119.266 million. The NBA’s salary cap for the 2017-18 season increased more than $5 million and the luxury tax line increased more than $6 million over last season. The league made the announcement ahead of 12:01 a.m. ET Saturday, when the “moratorium period” begins and teams can start negotiations with free agents. The moratorium period ends at 12:01 p.m. ET on July 6.
The minimum team salary, which is set at 90 percent of the salary cap, is $89.184 million for 2017-18. The non-taxpayer mid-level exception for this season is $8.406 million, the taxpayer mid-level is $5.192 million, and the mid-level for a team with room under the salary cap is $4.328 million.
In layman’s terms, this means teams over the salary cap and luxury tax are restricted in the amount of money they can offer some players, and teams over the tax line must pay a tax at the end of the season. There was a fair degree of surprise around the league given that the cap came in about $2 million lower than expected.
The ridiculous money handed out so far in NBA free agency, including Steph Curry‘s reported five-year/$201 million contract, has caught more than just the attention of basketball fans.
Curry’s deal dwarfs the record five-year/$125 million contract his Bay Area peer, Derek Carr, signed last week – something that seemed to lead some NFL players to regret the career path they chose.
Dam 200 mil. I’ll b happy when they start giving football players what they deserve
— Shane Ray (@StingRay56) July 1, 2017
These NBA contracts 🤤 make me feel like I got pennies 😂
— Takkarist McKinley (@Takk) July 1, 2017
Blake 175m’s 😭 I’m in the wrong sport
— Eric Ebron (@Ebron85) July 1, 2017