The vote, which reportedly took place Friday,
raises the debt limit $75 million.
The decision comes ahead of higher team payrolls and luxury
taxes expected throughout the league next season. NBA franchises
are being valued higher than ever before, and players are being
paid greater salaries.
For example, the Golden State Warriors' Stephen Curry will begin
making north of $40 million annually on his current deal in
2019-20. As it stands, three more players will join him above
$40 million in 2020-21, all signed to extensions via Bird
rights, which allow teams to exceed the salary cap to re-sign
their own free agents.
The NBA last raised the owners' debt limit in 2014, soon after
the league completed a new $2.6 billion media deal.
--Field Level Media
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