NBA's Salary Cap for 2016-17 Season Reportedly Rises to $94 Million

The NBA's free-agent frenzy received a sizable boost Friday night, as a league memo reportedly revealed the salary cap is set to increase to $94 million for the 2016-17 season.

Shams Charania of Yahoo Sports' The Vertical was the first to report the news. The cap is expected to leap by $24 million from this season's figure of $70 million, and the luxury tax will start at $113 million.

Per Charania, the salary cap increase also bumps up the value of max contracts. Tier 1 free agents could make as much as $22 million per season, tier 2 are eligible for $26.4 million and tier 3 have a ceiling of $30.8 million.

Oklahoma City Thunder megastar Kevin Durant is the biggest prize on the open market, and he falls in the tier 2 range.

According to ESPN.com's Brian Windhorst, the cap increase is especially good news for the Boston Celtics, as they could have as much as $53 million in space, which seemingly makes them contenders for Durant's services.

With more money floating around league-wide, Doug Gottlieb of CBS Sports believes front offices could make some poor decisions:

"

Salary cap is going up to $94m instead of projected $92m - in other words, be prepared for some terrible looking contracts #nba

— Doug Gottlieb (@GottliebShow) June 17, 2016"

A higher cap also comes with a higher cap floor, and per Alex Kennedy of BasketballInsiders.com, that figure is expected to be set at $84.6 million.

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