The NBA announced today that the salary cap for the 2014-15 season will be set at $63.065 million—the highest in league history.
The luxury tax level for the upcoming season was also raised to $76.829 million. The luxury tax will affect teams like the Brooklyn Nets who are over the luxury tax threshold. As a result they will pay $90 million in salary cap taxes during the 14-15 season.
The salary cap was $130,000 less than expected. Additionally, the minimum team salary will be $56.759 million. The non-taxpayer mid-level is $5.305 million, with the taxpayer mid-level listed as $3.278 million.
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