NBA salary cap set at $58.7 million
China Daily | Updated: 2013-07-11 07:32
The NBA has set next season's salary cap at $58.7 million, paving the way for contracts to be signed starting Wednesday.
The tax level is $71.7 million, with harsher penalties starting this season for teams that exceed it.
Teams formerly paid $1 for every $1 they were over, but the penalties now start at $1.50 per dollar for teams up to $4.9 million over, with increases from there.
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