Seeing as how teams will get 89 million alone annually from US TV rights (still doesn't include ticket sales revenue, INTERNATIONAL TV rights, licensing revenue), the cap should go up big time.
Players are definitely backing out of the current deal in 2016. If the owners are smart, they'd do a hard cap and kill player max salaries. That way if a team like Milwaukee wants to throw 40 million a year at a player to get a player, they'll have a better chance to land major players. And the hard cap will ensure that you can't get rediculous with contracts either. GMs will be more accountable that way.