Thanks to a rich television deal, NBA teams will be able to spend more money than expected next season.
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The upcoming salary cap will reportedly be $94 million, higher than the expected cap of $92 million, according to The Vertical. That would then mean the luxury tax cap would be approximately $113 million.
The NBA sent a memo, via The Vertical, on Friday afternoon that the Basketball Related Income (BRI) for this past season is ongoing and that the increased projection for the next salary cap is due to "business outperformance since the previous estimates."
The NBA reached a nine-year televison deal with ESPN and Turner Broadcasting in 2014 that pays the league $24 billion. Because the salary cap is tied to basketball-generated income, the cap increased dramatically from this season's $70 million cap. The cap will likely be north of $107 million for the 2017-18 season.
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With the free-agency period set to begin next month, teams like the Washington Wizards, Miami Heat and San Antonio Spurs will have more competition as they try to lure All-Star forward Kevin Durant away from Oklahoma City.
While Durant is undoubtedly set for a huge payday, others will benefit from the increased cap. Teams will inevitably overpay for a player or two by giving them max deals, even if those players don't necessarily deserve it according to the market. The maximum player salaries are expected to be $22 million for tier 1, $26.4 million for tier 2 and $30.8 million for tier 3, according to The Vertical.