Salary Cap higher then expected.

[moss_is_1]

NBA salary cap set at $58.044 million, the league just announced.

http://twitter.com/alanhahn/status/17990226416

[Cyborg21]

So whats our cap space now?

[younggunsmn]

We have about 7 million left now instead of 5 million.

The extra 2 million puts NJ and Chicago very close to 2 maxes.
Miami has about 45 million to spend before Wade & Bosh, NY about 36 million before Amare.

[moss_is_1]

like 5-6 mil? We had like 13 before Darko and Pek right? Well they cost 10~ and its about 2 million higher now so about 5.

*note I pulled this out of my ass, didn't look up anything.

[revprodeji]

Shrink....?

[Cyborg21]

looks like it doesn't mean too much for us, just better for MIA and NY........

[Saltine]

We've got 6.7 million now, after the rookies are signed and Rubios hold,and Darko and Peko's deals, also assuming Wes gets a 20% bonus... and they cut Greg Stiemsma.

Cap is $1,979,000 more than we thought.

Assumed 56,065,000
Actual 58,044,000

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.

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.

[shrink]

Once we cut Steimsma guaranteed contract, I have us at $7,215,295.

This will decrease slightly when we give Wes Johnson the standard 20% raise when he inks his contract .. his cap hold is only for rookie scale. However, its possible Hayward won't get 20% as a later pick.

Al Jefferson $13,000,000
Martell Webster $4,800,000
Darko Milicic $4,350,000
Nikola Pekovic $4,000,000
Ramon Sessions $3,964,320
Corey Brewer $3,703,472
Kevin Love $3,638,280
Jonny Flynn $3,192,000
Wesley Johnson (+20%) $3,105,500
Ryan Hollins $2,333,333
Wayne Ellington $1,078,800
Lazar Hayward (+20%?) $850,800

Ricky Rubio $2,812,200
Greg Steimsma ($762,195) $0


Total $50,828,705

Cap Space $7,215,295

Salary Cap $58,044,000

[horaceworthy]

So we could be around $9-10M under the cap once the season starts? I like that, that opens up chances to maneuver 1st round picks and small assets away from teams looking to get under the lux, like OKC has done. That's how I was hoping the cap would be used originally.

[younggunsmn]

My calculations, before any free agents are signed or re-signed:
Free Agent signings (not included in numbers) in parentheses.

Rank Team Salary Cap Room
1 MIA 12,408,669 45,635,331 (Wade, Bosh)
2 NYK 21,571,737 36,472,263 (Amare)
3 NJ 26,110,193 31,933,807
4 CHI 26,166,204 31,877,796 (Boozer)
5 LAC 39,269,969 18,774,031
6 SAC 39,894,931 18,149,069
7 BOS 40,310,193 17,733,807 (Pierce, Allen)
8 MIN 42,952,309 15,091,691 (Darko, Pekovic)
9 PHX 44,878,945 13,165,055 (Warrick, Frye)
10 CLE 47,293,197 10,750,803 (LBJ?)
11 WAS 48,627,770 9,416,230
12 MIL 48,862,940 9,181,060 (Salmons, Gooden)
13 OKC 49,201,844 8,842,156
14 TOR 49,681,848 8,362,152 (A. Johnson)
15 MEM 49,935,793 8,108,207 (Gay)
16 DAL 53,416,174 4,627,826 (Nowitzki)
17 ATL 54,290,377 3,753,623 (Johnson)
18 SAS 54,864,570 3,179,430
19 GSW 56,589,001 1,454,999
20 DET 58,368,300 -324,300
21 HOU 59,662,683 -1,618,683
22 UTAH 60,546,059 -2,502,059
23 CHA 60,548,542 -2,501,542
24 IND 66,758,842 -8,714,842
25 PHI 66,834,939 -8,790,939
26 NO 67,540,045 -9,496,045
27 POR 68,024,773 -9,980,773
28 DEN 75,693,497 -17,649,497
29 ORL 82,450,934 -24,406,934 (Duhon)
30 LAL 85,680,049 -27,636,049 (Blake)

Salary Cap 58,044,000
Luxury Tax 70,307,000
Minimum Team Salary 43,533,000
Mid Level Exception 5,765,000
Maximum Salary (>=6 yrs in Lg) 17,413,200

There are only 3 teams facing the luxury tax: Denver, Orlando, and the LAL.
Indiana also needs to sign a PG and they are close to the lux.
Most of the other teams are pretty comfortably under at this point.
Maybe Denver would dump JR Smith for capspace, otherwise I can't see many specifically luxury-tax driven deals that benefit us heavily.
The big FA's are off the board except Lebron, the value of raw cap space will drop precipitously now. The time to sell it was at the trade deadline when we had 23 million in expirings, or on draft day.

[younggunsmn]

So we could be around $9-10M under the cap once the season starts? I like that, that opens up chances to maneuver 1st round picks and small assets away from teams looking to get under the lux, like OKC has done. That's how I was hoping the cap would be used originally.

9,236,235 (assuming Stiemsma is cut), for 12 players.
Plenty of spots for a rookie FA or 2, find this year's Wes Matthews, Reggie Williams, or Anthony Morrow.

I don't know that the market is great for teams looking to dump salary to avoid the lux,
but I think there's a better shot we can use some of that room to absorb the salary of a player on the outs with his team or going through a slump (think Caron Butler last year).

Salary On Books Max Cap Room Lux Tax Cap Number
1 Al Jefferson 13,000,000 13,000,000 13,000,000
2 Martell Webster 4,800,000 4,800,000 4,800,000
3 Darko Milicic 4,350,000 4,350,000 4,350,000
4 Nikola Pekovic 4,000,000 4,000,000 4,000,000
5 Ramon Sessions 3,964,320 3,964,320 3,964,320
6 Kevin Love 3,638,280 3,638,280 3,638,280
7 Johnny Flynn 3,192,000 3,192,000 3,192,000
8 Corey Brewer 3,703,472 3,703,472 3,703,472
9 Ricky Rubio 2,812,200 2,812,200 0 draft rights held (#5 2009)
10 Ryan Hollins 2,333,333 2,333,333 2,333,333
11 Wayne Ellington 1,078,800 1,078,800 1,078,800
12 #4 Wesley Johnson 3,105,500 3,105,500 3,726,600
13 #30 Lazar Hayward 850,800 850,800 1,020,960
Greg Stiemsma 762,195 0 0 fully unguaranteed
Total Salary 51,590,900 50,828,705 48,807,765
Cap Room 6,453,100 7,215,295 9,236,235

[Saltine]

Your numbers look perfect
I think we can assume Stiemsma gets cut, and Wes gets the 20% bonus. I don't think Lazar will, he was stunned to be picked in the first round;

12 #4 Wesley Johnson 3,726,600
13 #30 Lazar Hayward 850,800
Greg Stiemsma 0
Nemanja Bjelica 0
Paulao Prestes 0
Henk Norel 0
Loukas Mavrokefalidis 0

$51,449,085 from 58,044,000 in space available.
$6,594,915 in cap space after signings
$9,407,115 without Rubio's hold during the season.

Either way, we are in pretty good shape. Especially if we trade for Dampier then cut him.
$19,594,915
and
$22,407,115

[shangrila]

I really, really, really, really, really, really, really, really hope someone else makes an offer for Lee soon. Even if they dump Jefferson, rolling into the season with a huge amount of capspace and an improved team would be awesome.

[Saltine]

After Beasley, our free cap space is now $1,632,675