Tuesday July 7 2009 – 10:55pm Eastern (Toronto, ON) 

The NBA just sent out a release in the last 30 minutes informing teams that the Salary Cap for this season will come in at $57.7 million.

The tax level for the 2009-10 season has been established as well:  $69.92 million.

By comparison, the 2008-2009 Salary Cap was $58.68 million and the tax level was $71.15 million.

The NBA said that “although the league-wide revenue increased by 2.5% this past season, the decrease in the Salary Cap and tax level for the 2009-10 season is the result of the formula used to set the Cap and tax under the terms of the collective bargaining agreement.”

The new Cap and tax figures will go into effect in just over an hour – at 12:01am Eastern on July 8.

In addition to this news, the league has announced the figure(s) for the mid-level exception this season.  The 2009-10 total for the mid-level will be $5.854 million.

Also, the MINIMUM team salary – which is 75% of the Salary Cap – will be $43.275 million.

E. Smith

16 Responses to “Salary Cap and Luxury Tax Announced”
  1. 1.

    In other words…BC is screwed.

    - Mr. T
  2. 2.

    Not necessarily

    - E. Smith
  3. 3.

    Any word on the sign and trade with Dallas??

    - it is what it is
  4. 4.

    ESPN is reporting that Bargnani has agreed to a 5 year $50 Million extension with the Raps. That’s a great deal negotiated by Colangelo.

    - Bball
  5. 5.

    All I wanted was a nice balanced team this year for the Raps…it’s looking like a REEALLLLLLLY thin bench so far. Hoping BC can somehow encounter a miracle.

    - Rob
  6. 6.

    I agree Bball

    - E. Smith
  7. 7.

    If the terms are as reported, I like the deal for Bargnani too

    - E. Smith
  8. 8.

    The lower cap will just increase the talent pool of players who will sign for the minimum on one year deals.

    - SG
  9. 9.

    If Bargnani can continue to improve, it’s a good deal for both sides; cost certainty for security.

    If Bargs goes back to sleep walking around the court looking like the slowest reflexes on the front court, it will be a long 5 years.

    I’d bet on the former, since the big men take a while longer to catch up with the growth.

    It will be interesting to see how many guys have to sign the small deals to find a place to play. That’s where BC has a real chance to build the bench.

    - Gary
  10. 10.

    Hey Eric, can you explain what the Raps will likely gain from a sign and trade with Marion? Is it salary cap relief (how much) because nice guy or not, we certainly don’t owe him anything.

    - Gary
  11. 11.

    Maybe Raps should follow Jays’ example with Halladay , and quietly spread the word Bosh is available if the offer is right ?

    - Chas
  12. 12.

    What’s interesting is projections for next year (on ESPN.com): “NBA teams also received tentative projections from the league warning that the cap is estimated to drop to somewhere between $50.4 million and $53.6 million for the 2010-11 season.”

    This means that Toronto is that much more likely to keep Bosh. Other teams will likely NOT be able to sign two superstars and the current team (Raps) will be able offer the extra year and increases – and this will be even more imp given the lower cap.

    - Tom L
  13. 13.

    something to think about Eric for 09/10

    Hedo – $10.6 Milli
    Andrea – $6 Milli
    Jose – $8 Milli
    Chris – $15 Milli
    DeMar – $1.6 Milli
    Total: $41 Milli (Approx)

    Cap: $57.7 million.

    Eric you know I’ve stood and said that I trust BC. Still do but These #’s have kinda buckled that trust. Especially if expected the Cap goes down and we still have some real needs that have not been addressed. What do you think?

    - Lanny from Whitby
  14. 14.

    Bargnani has the potential to be a max out player but, needs to work on defense and rebounding!!!!

    - Raps Fan
  15. 15.

    Y’all are suckers for this!! That killed the Raptors for GOOD!!

    - BOJACK
  16. 16.

    Lanny that’s why I keep asking how the other teams can do it.

    Do Bosh and Hedo make more than Dwight Howard and Vince Carter, LeBron and Shaq, Dirk and Kidd or the Boston 3-headed monster???

    I don’t know but I think they make less than each of them.

    Let’s just bring D Wade here and get it over with :-)

    - Gary
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