NBA teams are burning more money for players in the free agency market than The Joker did that mountain of cash in The Dark Knight. In the latest NBA free agency news that makes you feel upset about not working hard enough on your hoop skills in high school, not having a 7-foot height, or shocked by how much money these NBA players are getting altogether, the NBA released a statement on Saturday about its salary cap for the 2016-2017 season. According to ESPN's Marc Spears, the NBA salary cap is set to $94 million, with a tax level north of $114 million for next year.
The moratorium gives the league ample time to calculate the exact amount of the salary cap and luxury-tax figure for the upcoming season. The date for the new deal signings of players is set for July 7 at 12:01 a.m. The minimum team salary is 90 percent of the salary cap, and stands at approximately $85 million.
According to NBA.com, the NBA Player's Union and the league that date was bumped up in back in March by five days from its original deadline of July 12 for teams to execute new deals. With that agreement, this helps both sides. Teams and free agents are able to have mutual agreements to deals during the moratorium, but no contracts are allowed to be signed until that period ends.
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