The NBA has informed all 30 teams that the salary cap for the 2016-17 season is projected to be $94 million, higher than its previous estimates, league sources told The Vertical.
The NBA sent a memo on Friday afternoon that the Basketball Related Income (BRI) for this past season is ongoing and that the increased projection for the next salary cap is due to "business outperformance since the previous estimates."
The salary cap for the 2015-16 season was $70 million.
The NBA's projected salary cap and tax level of $94 million and $113 million, respectively, have increased since the previous estimates done by the league and its players' union.
The maximum player salaries are now expected to be $22 million for tier 1, $26.4 million for tier 2 and $30.8 million for tier 3.
The final amount for the salary cap remains ongoing, pending the completion of the 2015-16 BRI audit report on July 6, the NBA wrote in the memo.