Mr. Stern sets cap at 58 Million

[D2Procon]

http://realgm.com/src_wiretap_archives/67949/20100707/nba_sets_cap_at_$58044_million_for_10_11/

NBA Sets Cap At $58.044 Million For 10-11

Jul 07, 2010 7:41 PM EST
The National Basketball Association today announced that the Salary Cap for the 2010-11 season will be $58.044 million. The tax level for the 2010-11 season has been set at $70.307 million. Any team whose team salary exceeds that figure will pay a $1 tax for each $1 by which it exceeds $70.307 million.

The 2009-10 Salary Cap was $57.70 million and the tax level was $69.92 million.

The new Salary Cap and tax level go into effect at 12:01 a.m. ET on Thursday, July 8, when the league’s “moratorium period” ends and teams can begin signing free agents and making trades.

The mid-level exception is $5.765 million for the 2010-11 season and the minimum team salary, which is set at 75% of the Salary Cap, is $43.533 million.

Last summer, the NBA sent out a memo to teams warning them that the cap would be potentially in the neighborhood of $52 million.

[DUNCANownsKOBE2]

cool story Ashraf

[MavDynasty]

cool story Ashraf

[spursballer21]

so r the spurs under the cap?

[MavDynasty]

so r the spurs under the cap?

Yes

[spursballer21]

really if some other few posters can confirm this wooooh

[My Fault]

really if some other few posters can confirm this wooooh

Spurs are under the cap but not by very much at all. So they actually can use their exceptions instead.

[Darrin]

This is good news. The Pistons have about 2 million extra dollars under the luxury tax now.

[024]

http://sports.espn.go.com/nba/news/story?id=5362260

more legit link. teams are going to be very happy, especially the heat.

[spursballer21]

no wonder they let jeferson walk

[024]

spurs will still only have $6 million to spend, which is basically the MLE.

[Thompson]

spurs will still only have $6 million to spend, which is basically the MLE.

Will they have $6 million and the MLE, or just the MLE?

[Booharv]

This is good news for teams like Miami who now has I think $14 million to fill out the rest of their roster and could conceivably get a shooter like Miller or Re and Haywood to play center.

[BullsDynasty]

Will they have $6 million and the MLE, or just the MLE?

They have $5.4 million to spend and MLE is worth $5.7 million.

[024]

Will they have $6 million and the MLE, or just the MLE?

teams only get the MLE if their capspace is less than the MLE. since the spurs are slightly over that amount at $6 million, they can only use their capspace money.

if the spurs had a capspace of $2 million, then they could use up to the MLE. i'm actually not sure what the specific numbers the final spurs salary is with temple, gee, and hairston so a good bet would be the spurs have around $5.8 million to spend.