What is 'Liability' A liability is a company's financial debt or obligations that arise during the course of its business operations. Liabilities are settled over time through the transfer of economic benefits including money, goods or services.
The Minimum Annual Salary for an NBA player varies from year to year and depends on how long they have been playing in the NBA. The minimum for a 10 year veteran is far different from the minimum salary for a rookie. The minimum rookie salary in the 2010 - 2011 season is set at $473,604 USD.
The NBAâs salary cap just made a record leap to a record high. The league announced Saturday that the 2016-17 salary cap will rise to $94.1 million. The luxury tax line will increase to $113.3 million and the salary cap floor will be set at $84.7 million. The new salary cap figure is $24.1 million more than the 2015-16 salary cap, representing a record for a single-season increase.