NEW YORK – The National Basketball Association today announced that the Salary Cap has been set at $140.588 million for the 2024-25 season. The Tax Level for the 2024‑25 season is $170.814 million.

The Salary Cap and Tax Level go into effect at 12:01 a.m. ET on Monday, July 1. Teams are permitted to begin negotiating with free agents today at 6:00 p.m. ET — six hours prior to the start of the league’s “moratorium period.” The moratorium period ends at noon ET on Saturday, July 6.

• The Minimum Team Salary is $126.529 million for the 2024-25 season.

• The First Apron Level is $178.132 million for the 2024-25 season.

• The Second Apron Level is $188.931 million for the 2024-25 season.

The Collective Bargaining Agreement provides for three different Mid-Level Exceptions depending on a team’s salary level. The Non-Taxpayer Mid-Level for the 2024-25 season is $12.822 million, the Taxpayer Mid-Level is $5.168 million, and the Mid-Level for a team with room under the Salary Cap is $7.983 million.