NBA Sets 2024-25 Salary Cap at $140.588 Million

The revised cap figure impacts team budgets and roster strategies ahead of free agency.

The updated salary cap is slightly below the earlier projection of $141 million.
Luxury tax and apron levels are also adjusted accordingly, affecting high-spending teams.
The Knicks face significant challenges due to the cap reduction, needing to adjust trades and contracts.
The NBA anticipates future cap increases with upcoming lucrative TV deals.
Teams must navigate these financial constraints as free agency begins.