NEW YORK – The National Basketball Association today announced that the salary cap has been set at $136.021 million for the 2023-24 season. The tax level for the 2023-24 season is $165.294 million.

The Salary Cap and Tax Level go into effect at 12:01 a.m. ET on Saturday, 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 Thursday, July 6.

• The Minimum Team Salary is $122.418 million for the 2023-24 season.
• The First Apron Level is $172.346 million for the 2023-24 season.
• The Second Apron Level is $182.794 million for the 2023-24 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 2023-24 season is $12.405 million, the Taxpayer Mid-Level is $5 million, and the Mid-Level for a team with room under the Salary Cap is $7.723 million.