NBA: Salary cap set at $101.86 million for 2018-19 season

(Reuters) - The National Basketball Association has set a $101.86 million salary cap for the 2018-19 season with the luxury tax level set at $123.73 million.

Jun 8, 2018; Cleveland, OH, USA; Cleveland Cavaliers forward LeBron James (23) watches a shot during the fourth quarter against the Golden State Warriors in game four of the 2018 NBA Finals at Quicken Loans Arena. Mandatory Credit: Carlos Osorio/pool photo-USA TODAY Sports

The league released the figures just hours before they go into effect at 12:01 a.m. ET on July 1, when the NBA’s moratorium period on signings starts.

Teams can begin negotiating with free agent players from Sunday but not sign them until the moratorium period ends at 12:01 p.m. ET on July 6.

With the cap now set, teams know precisely the amounts they can offer various players.

LeBron James, who opted out of his contract on Friday and is the premier free agent on the market this year, can sign for a maximum of $206.79 million over five years if he were to remain with the Cleveland Cavaliers.

If he signs with a new team he can receive a maximum of $153.3 million over four years.

Writing by Jahmal Corner in Los Angeles

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