Report: Salary cap projected to be $92M for 2016-17

Great news for prospective free agents: the salary cap is slated to jump even higher than previously anticipated.

With the league awaiting a $24-billion national broadcast deal that's slated to kick in next season, projections for 2016-17 and beyond are even grander than past estimates of $89 million.

USA Today's Jeff Zillgitt obtained a league-wide memo that projected the salary cap to rise from $70 million this season to $92 million in 2016-17, with a corresponding luxury-tax threshold of $111 million.

Future estimates could see the salary cap double from today's figure within five seasons.