– The National Basketball Association today announced that the Salary Cap has been set at $154.647 million for the 2025-26 season. The Tax Level for the 2025‑26 season is $187.895 million.

The Salary Cap and Tax Level go into effect at 12:01 a.m. ET on Tuesday, July 1. Teams are permitted to begin negotiating with all 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 Sunday, July 6.

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 2025-26 season is $14.104 million, the Taxpayer Mid-Level is $5.685 million, and the Mid-Level for a team with room under the Salary Cap is $8.781 million.