2009-2010 NBA Salary Cap Announced
NEW YORK, NY -- The NBA announced that the salary cap for the 2009 - 2010 season will be $57.7 million. The tax level for the 2009 - 2010 season has been set for $69.92 M. Any team whose salary exceeds that figure will pay a $1 tax for each $1 (dollar for dollar tax) by which it exceeds $69.92 M.
The 2008 - 2009 Salary Cap was $58.68 M and the tax level was $71.15 M. Although league-wide revenue increased 2.5% this past season, the decrease in the Salary Cap and tax level for the 2009 - 2010 season is the result of the formula used to set the Cap and tax under the terms of the collective bargaining agreement (CBA).
The new Salary Cap and tax level went into effect at 11.01 p.m. CDT on Tuesday, July 7, when the league's "moratorium period" ended. Teams can begin signing free agents and making trades.
The mid-level exception is $5.854 million for the 2009 - 2010 season; and, the minimum team salary (Salary Floor), which is set at 75% of the Salary Cap, is $43.275 M.
Art Garcia of NBA.com provides details regarding the Salary Cap such as which teams paid the most in luxury tax; the maximum player salary amounts; and also a projected look toward the Salary Cap for 2010 - 2011.
David Aldridge (TNT and NBA.com) writes the "salary cap for 2009 - 2010 season reflects economic times".
ESPN.com's Marc Stein echoes Garcia's dire look to the 2010 - 2011 salary cap and writes the "2010 cap may limit signings".
The 2008 - 2009 Salary Cap was $58.68 M and the tax level was $71.15 M. Although league-wide revenue increased 2.5% this past season, the decrease in the Salary Cap and tax level for the 2009 - 2010 season is the result of the formula used to set the Cap and tax under the terms of the collective bargaining agreement (CBA).
The new Salary Cap and tax level went into effect at 11.01 p.m. CDT on Tuesday, July 7, when the league's "moratorium period" ended. Teams can begin signing free agents and making trades.
The mid-level exception is $5.854 million for the 2009 - 2010 season; and, the minimum team salary (Salary Floor), which is set at 75% of the Salary Cap, is $43.275 M.
Art Garcia of NBA.com provides details regarding the Salary Cap such as which teams paid the most in luxury tax; the maximum player salary amounts; and also a projected look toward the Salary Cap for 2010 - 2011.
David Aldridge (TNT and NBA.com) writes the "salary cap for 2009 - 2010 season reflects economic times".
ESPN.com's Marc Stein echoes Garcia's dire look to the 2010 - 2011 salary cap and writes the "2010 cap may limit signings".
posted by Kris G @ 1:42 AM
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