NBA sets cap at $70 million

The NBA salary cap was set Wednesday for next season at $70 million, a higher-than-expected number that paves the way for free agent contracts to be signed. The league said the cap increased by 11 per cent from last season’s $63.1 million and the 2015-16 cap will be the highest ever — though it will be shattered next summer. It had been projected to come in closer to $67 million until recently.