The lucrative, eight-year extension is cause for celebration. It will also have a major impact on the Kings' cap, free agency and Erik Karlsson.
The reigning NBA champion Cleveland Cavaliers owe a league-high $54 million in luxury taxes for spending above the salary-cap threshold for the 2015-16 season, according to sources.
Chandler Parsons is "all ears" as he enters free agency, sources told ESPN, while the Mavericks are prioritizing other potential targets.
The Nets have agreed to trade Thaddeus Young to the Pacers for the 20th overall pick in this year's draft and a future second-round pick, sources confirmed to ESPN.
The NBA salary cap is now projected to explode to $94 million from this season's $70 million, according to a memo sent to teams Friday that was obtained by ESPN.
