Salary cap for 2015-16 season jumps to $70 million

With the hoops world transfixed on the DeAndre Jordan free agency fiasco Wednesday night, the National Basteball Association snuck in an announcement that the salary cap for the 2015-16 season would be set an all-time high of $70 million.

The salary cap comes in significantly higher than estimated for the 2015-16 season, though it should have no effect on the Wolves. It had been projected to come in closer to $67 million until recently. Sports’ Adrian Wojnarowski. The luxury tax threshold will be $84.7 million, according to Wojnarowski.

NBA.com’s David Aldridge reports the players will receive $57.2 million in escrow shortfall payments since salaries were under their share of BRI.

The cap is expected to make a huge jump to over $90 million in 2016-17 after the league’s new TV deal kicks in. That means players who were at risk of being traded in salary dumps to make room for high-priced free agents may now be safe depending on how much room the franchise had to begin with.

New team-mate Kawhi Leonard will now earn $95.3 million over his five-year max deal. There will be three spending exceptions available to teams. […] The minimum team salary, which is set at 90% of the Salary Cap, is $63 million for the 2015-16 season.