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Ronnie Price

NBA sets 2015-16 salary cap at $70 million

NBA sets 2015-16 salary cap at $70 million

On Wednesday, the NBA announced the salary cap for the 2015-16 will be set at $70 million.

The Lakers are one of the many teams under the salary cap as the July signing period begins at 9:01 p.m. in Los Angeles.

The league's April projection was a cap of $67.1 million. The additional $2.9 million in spending power for teams is considerable. Instead of $22.2 million, the Lakers should have  $25.1 million to spend.

The Lakers currently have just five guaranteed players under contract, along with three non-guaranteed (Jordan Clarkson, Tarik Black and Jabari Brown).

Since the start of July, during the NBA's annual moratorium, the Lakers were able to negotiate...