NBA sets salary cap at $140.588 million for 2024-25 season

Field Level Media|published: 06/30/2024, 5:37pm EDT

Jun 14, 2024; Dallas, Texas, USA; An overall view of the court during game four of the 2024 NBA Finals between the Boston Celtics and the Dallas Mavericks at American Airlines Center. Mandatory Credit: Peter Casey-USA TODAY Sports

The NBA announced Sunday that the salary cap is set at $140.588 million for the 2024-25 season.

The league said the Tax Level will be $170.814 million.

Both figures go into effect at 12:01 a.m. ET on Monday.

Teams are allowed to begin negotiations with free agents at 6 p.m. ET on Sunday. Signings can become official Saturday.

The NBA said the minimum team salary is set at $126.529 million for the 2024-25 season. For teams that exceed the tax, the First Apron Level is $178.132 million and the Second Apron Level is $188.931 million.

Also, the Mid-Level Exceptions were set at $12.822 million (non-taxpayer), $5.168 million (taxpayer) and $7.983 million (room under salary cap).

--Field Level Media