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The Daily Ardmoreite
  • NBA salary cap goes to all-time high $63.1 million

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  • The NBA has set the 2014-15 salary cap at $63.1 million, an all-time high, paving the way for contracts to be signed.
     
    Deals can become official starting at 12:01 EDT on Thursday. Players and teams could agree to contracts starting July 1, but they couldn't be signed during the moratorium period.
     
    The cap is a 7.5 percent increase from last season's $58.7 million.
     
    The league also says Wednesday that the tax level jumped 7.1 percent to $76.8 million. Teams exceeding that will have to pay a luxury tax.
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