The new cap is here … the new cap is here!
July 8th, 2008, 10:45 pm · Post a Comment · posted by jerrybrown
The NBA released the new salary-cap guidelines for the 2008-09 season on Tuesday:
The salary cap has jumped from $55,63o,000 last year to $58,680,000 this season. According to hoopshype.com, 16 of the 30 NBA teams are already over that figure — with most if not all the rosters not fully filled.
More important to the Suns, who have been over the salary cap for years, the league’s luxury tax increased from $67,865,000 last year to $71,150,000 this year, about what was expected. With just nine players under contract for next season, Phoenix is less than $1 million from hitting the cap — meaning it will certainly be a taxpayer next season (barring a trade of one of their top five or six salaries) and will be limited to veteran minimum salaries when it comes to filling out the roster.
The minimum team salary for next year is just over $44 million, while the mid-level exception has been raised from $5,356,000 to $5,585,000.
