NEW YORK — The NBA salary cap for next season has been set at $58 million, a higher number than projected.
The cap goes into effect at 12:01 a.m. Thursday, ending the league's moratorium period and allowing free agent contracts to be signed.
Commissioner David Stern said in April the league was projecting the cap to come in at $56.1. The nearly $2 million more will be helpful to Miami as it tries to fill out a roster around Dwyane Wade, Chris Bosh and perhaps even LeBron James.
The mid-level exception is $5.8 million.