A late influx of revenue suggested that figure could rise $2 million.
Turns out, that undersold the bump.
Adrian Wojnarowski of Yahoo Sports:
This is good news for teams using cap space this summer and teams paying the luxury tax. They’ll have more room to sign players/exceed the tax line by less.
For the same reasons the salary cap and luxury-tax lines increased – more Basketball Related Income – maximum salaries will increase. Those numbers should be leaked soon.
Minimum salaries, mid-level exceptions and rookie-scale contracts are preset by the Collective Bargaining Agreement, so those are unaffected.