2010-2011 Salary Cap to be $56.1M
NEW YORK -- The New York Knicks and other teams hoarding salary-cap space got some good news Friday when they were told at the league's Board of Governors meeting that the projected 2010-11 salary cap will be $56.1 million.
That figure was $2 million to $3 million more than most teams had been expecting, and for the Knicks it ensures they have enough cap space this summer to sign two maximum-salary free agents.
"That's a lot of money. That's good," said Knicks president Donnie Walsh, who attended the meeting to learn the results of the Knicks' draft position through a tiebreaker.
Because of the worldwide economic downturn, the league had warned teams last July to expect the salary cap to be significantly lower -- perhaps as low as $51 million.
Other teams that will be positively affected by Friday's news include the Nets, Heat, Wizards, Bulls, Clippers and Timberwolves.
This is probably the biggest story I have seen in awhile. Seriously, people thought the cap would be less than 53 million
HUGE news for the clippers. they are now officially in the lebron sweepstakes.
LOL....Lebron not's going to the Clippers.
I think this is a huge piece of news though. Allow alot of teams to pretty much expand thier ideas to spend the cap space
so u think that the great winning tradition of the recent history of the knicks and their amazing supporting cast will lure lebron but the clippers have no shot. okay knicksboy, you keep thinking hes going to the knicks. i'll im saying is they are now fiscally able to sign him.
LOL...silly clips fan. I didn't say he was going to NY either. Pay Attention!
as long as Sterling owns the Clippers LBJ would be foolish to go to LA
That's only $1.6 million less than it is this season... I'm surprised. I thought it'd be much lower.
The Clippers should have enough to offer LeBron a max deal, but let's wait to see what pick they land in the draft. There's a cap hold for first round draft picks, which could affect free-agency plans. IF they were to land the #1 pick for example, the cap hold for that pick would be about $4 million which would be counted against their cap.
They'd also have to renounce quite a few of their free-agents. Everybody, except Davis, Kaman, Griffin, Gordon and DeAndre Jordan are free-agents.
The $56.1 million cap figure definitely puts them in a better position, but let's wait until after the draft so we'll know how much money they're working with for sure.