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 NBA salary cap is the limit to the total amount of money that National Basketball Association teams are allowed to pay their players. Like many professional sports leagues, the NBA has a salary cap to control costs, defined by the league's collective bargaining agreement (CBA).efore the 2011 CBA, the MLE was equal to the average NBA salary for all teams over the cap. Teams with cap room were previously ineligible for the MLE. The Mid-Level Exception for the 2008â09 NBA season was $5.585 million. The MLE was $5.854 million for the 2009â10 NBA regular season.