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.
Recommended Stories
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.
