The NBA salary cap for the 2022-23 season will be $123.655 million, a significant jump from the $112.4 million cap for this past season, the league announced. The luxury tax level will be $150.267 million.
The final number is a slight increase from what was previously projected. Sources told The Athletic in March the league informed teams the projected salary cap would be $122 million and the luxury tax level would be $149 million.
The nearly 10 percent increase in the cap year over year is the largest since it jumped from $70 million to $94.1 million in the 2016 offseason.
The free-agency negotiating period began Thursday at 6 p.m. ET.
(Photo: Brad Penner / USA Today)