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NBA salary cap rises by $5M but falls $2M short of expectations

The NBA notified teams in a memo Wednesday that the projected salary cap will come in at $99 million, about $2 million less than estimates in April. In addition, the luxury tax has been lowered from $121 million to a projection of $119 million. The salary cap is still increasing by about $5 million from last season, but it isn't growing as much as previously expected.