NBA Sets Cap At $58.044 Million For 10-11

[The Skyhook]

Its higher than last season. Everyone was expecting it to go down. Good for the Lakers situation.

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.

http://basketball.realgm.com/src_wireta ... for_10_11/

[driver]

Just saw this in the WT. Basically, Buss now has a tad less payout. Can we please sign Fish already then?

[Jay Cochran]

7 game must-see TV finals must have boosted BRI revenues at the 11th hour. Good news for Dr Buss' tax bill.

[iamworthy]

I really dont know how this helps us. Doesnt this just save Buss money in regards to lux tax.

[Jay Cochran]

Any news on the MLE?

Could be higher than projected? More to spend on a 2nd signee after Blake?

[laduane1]

I do not see it helping the lakers at all. We are still millions over the cap and going to go higher just to fill out the bench with who knows type of players.

[supaflash]

Its pretty significant. Old estimates put cap at 56 which would have had the lux in the 68 range I believe. Now with lux higher then last year at 70 you are talking 4 million dollars that just saved Buss.

[DubaLakers]

I do not see it helping the lakers at all. We are still millions over the cap and going to go higher just to fill out the bench with who knows type of players.

We're in a better spot than most teams. We're in good hands. Think of all the teams that were affected by this zoo of a FA period.

[Gek]

http://my.lakers.com/blogs/2010/07/07/n ... alary-cap/

Lakers General Manager Mitch Kupchak called that amount “Higher than we anticipated.”

NEW YORK, July 7, 2010 – 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.

In theory this means we have an extra two million, at least, to mess with b/c we're saving that by having a higher tax level...

[kooner]

oh that's awesome

[kooner]

More money to spend lol about 1mill more so give fish 3.5mill a year lol

[Gek]

If anyone wants to quick determine the average salary for the year then you just got your MLE

[LA-LA-Land]

or we could all just read the wiretap and find the MLE is set at $5.765 mil

[DEEP3CL]

I really dont know how this helps us. Doesnt this just save Buss money in regards to lux tax.

That's it Big Game, it really doesn't help in any regard to signing another player. Plus we're still over the cap by 23 mil or so, just lessens the tax.

[joe.linnen]

let go after Matt Barnes

[Gek]

Merge this with the other thread please.

[LAKESHOW]

I really dont know how this helps us. Doesnt this just save Buss money in regards to lux tax.

That's it Big Game, it really doesn't help in any regard to signing another player. Plus we're still over the cap by 23 mil or so, just lessens the tax.

so if you figures are correct, the 23 turns into 46 million in tax penalties . . . correct?

[Gek]

We're actually like 11 over or something right now... the cap and tax level are two different numbers.

Also I think there are some contracts that don't count against the cap... i could be wrong though.

[DEEP3CL]

We have 81 committed in salary, the lux is 70 mil so we're 11 mil over in lux tax.

[That Nicka]

This is not gonna affect how we spend money or if we sign more players