NBA officially sets salary cap at $99M

With the league's new fiscal year and free-agency period dawning Saturday, the NBA announced that the salary cap has been set at $99.093 million for the 2017-18 season, with the tax level at $119.266 million.

The minimum team salary, which is set at 90 percent of the salary cap, is $89.184 million for 2017-18. The non-taxpayer mid-level exception for this season is $8.406 million, the taxpayer mid-level is $5.192 million, and the mid-level for a team with room under the salary cap is $4.328 million.

When first reported last month, there was a fair degree of surprise around the league given that the cap came in about $2 million lower than expected.