Some seemingly boring news that could have a big effect on NBA free agency this summer: According to ESPN, the salary cap is going to increase about $5 million, which means teams will be allowed to spend more money on high-profile free agents such as Carmelo Anthony. Some details:
The NBA has informed teams that it is projecting a rise in the salary cap of nearly $5 million for next season, which could aid clubs such as Chicago and Houston in their attempts to steal free agent-to-be Carmelo Anthony from the New York Knicks, according to sources familiar with the forecasts.
Sources told ESPN.com that all 30 teams were informed this week via league memorandum that an increase in the cap from this season’s $58.6 million to $63.2 million in 2014-15 — thanks to increased revenues — is now expected. A corresponding rise in the luxury-tax threshold from $71.7 million to $77 million is also projected, sources said.
It must be noted that these are non-binding forecasts that have been circulated roughly three months before the official cap ceiling and luxury-tax threshold for next season are announced in early July following a league-wide audit.
But the latest projections will undoubtedly be welcomed by numerous teams that are planning to be active in free agency this summer. If the projections hold, several clubs will find themselves with more spending money and financial flexibility than they initially planned.