This summer’s free agents are probably a lot more excited after what was reported by Shams Charania of The Vertical. It was alleged that the salary cap is going to balloon to $94 million this summer, up $24 million from this past year and more than the anticipated $92 million.

The luxury tax, a penalty that team owners pay for having salaries that exceed the salary cap, is also going to raiseĀ to $113 million. With the increase of the salary cap, the annual dollar amount for max contracts grows, making players salivate over their earning potential.

Max contracts are set up into three tiers: tier 1, tier 2, tier 3. These are determined by how many seasons a player has been in the league, and it starts at tier 1. That level is made up of players with six years of experience or less, and they can get as much as $22 million a year. Tier two is for players with seven to nine years’ experience, and they can earn up to $26.4 million. The final level is for players with more than a decadeĀ of experience, and they start at a whopping $30.8 million.

This summer’s most valued free agent is Kevin Durant, hands down. The Durantula just finished his ninth season in the league and is eligible for that $26.4 million next year.