The NBA announced Saturday that the salary cap for the 2016-17 season will be $94.143 million.
The league also set the tax level for next season at $113.287 million.
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Commissioner Adam Silver arrives on the red carpet at the 'Kareem: Minority Of One' New York Premiere at Time Warner Center on October 26, 2015 in New York City. Photo by Dennis Van Tine/UPI | License Photo
The salary cap and tax level take effect at 12:01 a.m. ET Thursday. Teams can begin to sign free agents and make trades at that point.
The minimum cap figure is $84.729 million for the 2016-17 season.
The Collective Bargaining Agreement gives teams three mid-level exceptions depending on its salary level. The non-taxpayer mid-level is $5.628 million, the taxpayer mid-level is $3.477 million and the mid-level for a team with room under the salary cap is $2.898 million.
