With July Moratorium coming to a close, the NBA has released the salary cap and luxury tax figures for the 2014-15 via an official press release from the league.
NEW YORK, July 9, 2014 – The National Basketball Association today announced that the Salary Cap has increased by 7.5% to an all-time high of $63.065 million for the 2014-15 season. The tax level for the 2014-15 season increased by 7.1% to $76.829 million.
The Salary Cap and tax level go into effect at 12:01 a.m. ET on Thursday, July 10, when the league’s “moratorium period” ends and teams can begin signing free agents and making trades.
The minimum team salary, which is set at 90% of the Salary Cap, is $56.759 million for the 2014-15 season.
The current Collective Bargaining Agreement provides for three different mid-level exceptions depending on a team’s salary level. The non-taxpayer mid-level for this season is $5.305 million, the taxpayer mid-level is $3.278 million and the mid-level for a team with room under the Salary Cap is $2.732 million.
Including the Spencer Hawes (MLE) and Jordan Farmar (BAE) signings, the Clippers have a total salary of $77,654,769. Including the cap hold for 2014 first-round selection C.J. Wilcox and that number jumps to $78,527,984, nearly $2 million under the cap apron.
What does this mean in totality for Los Angeles?
Likely that any deal signed after this point will be on a veteran’s minimum depending on how the Hawes and Farmar trades are finalized. There is also the Eric Bledsoe trade exception available (how Farmar’s contract could be swallowed, freeing up the bi-annual exception) worth $2.6 million. If the Clippers look to use the Bledsoe TPE to acquire a player, they’ll have to do it hastily as the exception expires after July 10th.
Barring a crazy trade, the Clippers core seems to be set for the 2014-15 season.