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NBA salary cap for 2016-17 set at $94.143 million

POSTED: Jul 2, 2016 6:46 PM ET

Official release

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— The National Basketball Association today announced that the Salary Cap has been set at $94.143 million for the 2016-17 season. The tax level for the 2016-17 season is $113.287 million.

The Salary Cap and tax level go into effect at 12:01 a.m. ET on Thursday, July 7, when the league's "moratorium period" ends and teams can begin signing free agents and making trades.

The minimum team salary, which is set at 90% of the Salary Cap, is $84.729 million for the 2016-17 season.

The current Collective Bargaining Agreement provides for three different mid-level exceptions depending on a team's salary level. The non-taxpayer mid-level for this season 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.