NBA salary cap to stay at $58 million for upcoming season

NBA salary cap to stay at $58 million for upcoming season

Jul 10, 2012
By Kevin Connelly, USA TODAY
The NBA announced their salary cap and luxury tax for the 2012-13 season, which will remain the same as it was the past two seasons: $58.044 million for the salary cap and $70.307 million for the luxury tax threshold.

While the NBA's free agency period opened July 1, teams and players could only verbally agree to deals until the moratorium period ended.

As of 12:01 am EDT Wednesday, unofficial agreements can now become written contracts.


With expensive free agents looking to team up and go somewhere together, owners must be careful not to go over the $70.307 million mark.

Any team who's total salary exceeds the limit will be forced to pay a $1 tax for every dollar they are over

The more punitive luxury tax doesn't go into effect until the 2013-14 season.

The mid-level exception for teams who find themselves under the tax is set at $5 million. The taxpayer mid-level will be $3.09 million and the new mini mid-level for those teams with room still under the cap is $2.575 million.