Note: The league provided initial projections as of July 2012 which called for a salary cap of $60 million and a tax threshold of $73 million for the 2013-14 season.

The league then provided revised guidance in May 2013 that called for a salary cap of $58.5 million and a tax threshold of $71.6 million for the 2013-14 season, suggesting that revenues for the 2012-13 season are falling short of expectations and, as a result, player salaries are correspondingly too high, triggering escrow adjustments to the following season’s salary cap and tax threshold.

The league also guided in May 2013 to a salary cap of $62.1 million and a tax threshold of $75.7 million for the 2014-15 season, just slightly below initial forecasts, suggesting that future revenue targets remain unchanged from when the new CBA was first drafted but that player salaries for the 2013-14 season will once again be correspondingly high (due in large part to cumulative amnesty obligations, which will peak next season), once again triggering escrow adjustments to the following season’s salary cap and tax threshold. The player salary problem, however, should correct itself after next season as amnesty obligations start to fall away.