NBA salary cap remains at $58 million
NEW YORK (AP) -- The NBA has set the 2012-13 salary cap at $58.044 million, same as this season, and teams could begin signing players at 12:01 am EDT Wednesday.
Free agency opened on July 1 and a number of deals have been agreed to, but nothing could become official until the moratorium period ended.
The luxury tax level is also unchanged from last season, remaining at $70.307 million. Any team exceeding that will pay a $1 tax for every $1 by which it is over. The tax will become more punitive starting in the 2013-14 season.
The midlevel exception for teams under the tax is $5 million, and the taxpayer midlevel is $3.09 million. The new "mini" midlevel for teams with room under the salary cap is $2.575 million.
Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
#DearAndy: Unlimited meals, faux Pelini, and the Juicy Lucy
Chocolate Making with SI Swimsuit Models