PHOTO: Dog Guards Dead Victim's Body After Oklahoma Tornado Disaster
Wolf Blitzer's Embarrassing Moment With Tornado Survivor
The NBA announced its salary cap for the 2010-11 season, and it came in at $58.044 million, some $2 million higher than previously projected. In the course of doomsday predictions of sliding league revenue, the NBA warned teams a year ago that the '10-11 cap could be far lower than usual, perhaps as low as $50 million. That would have lowered the luxury tax threshold, placing more teams in dire danger of bloated payrolls. As such, teams were unusually chastened in the free agency period one year ago. (Part of that sobriety was also due to the bumper crop of 2010 free agents, many of which are now getting unfathomably large commitments.)
But instead of a wildly shrinking cap, the level next season will actually be higher than it was in the recently completed campaign. The 2009-10 cap was $57.7 million. The players union previously announced it would consider suing the league over its dire predictions on the grounds it cost 2009 free agents money; this news will only push further calls for such action. Players and their agents will argue David Stern effectively colluded with the owners who employ him to tamp down salaries last year. Whether that's accurate or even reasonable remains to be seen.
Share The salary cap is pegged to league revenue. As such, the higher cap also can't help the trust factor between owners, who claim to be losing hundreds of millions of dollars a year, and players. That's an ominous fact one year before the league's collective bargaining agreement expires. Many observers have predicted a lock-out. This pothole doesn't help.
Free agent signing maximum-value contracts this summer are almost universally relying not on 30 percent of the cap as a max salary, but 105 percent of their 2009-10 salary. Under the CBA, a player's max salary can never be less than 105 percent of the previous year's pay.
A previous post version of this post included incorrect maximum salary projections for current free agents.
Obama To Address Drones, Gitmo
Killed Soldier In London Attack Identified
Tom Coburn Ratchets Down Opposition To Tornado Relief Bill
Brave Woman Stood Down Armed London Attackers
Pelosi Blames Bush For Major Scandal
WATCH: Jon Stewart Shuts Down Bill O'Reilly
Discredited Economist Blasts Back
A Hard Recovery Predicted For Moore
Eight Men Consider Bill To Restrict Women's Reproductive Rights
This Teen Girl Is A Social Network's Worst Nightmare -- And Best Hope
Too-Big-To-Jail Dogs Obama's Justice Department
Boy Scouts To Vote On Allowing Gay Members
Has Anyone Seen Daisy?
LOOK: Obama Prom Photos Released
Abercrombie & Fitch: Sorry!
WATCH: Police Force Shows Up To Support 5-Year-Old Who Lost Her Dad
London Suspects Had Previously Been Investigated
'Corruption Of Blood' Bill Would Convict Lawbreakers' Kin
'Does Anyone Here Know What The Hell Happened?'
SEC Loophole Lets Companies Stash TRILLIONS Offshore
Officer Accused Of Michelle Obama Threat: It Was A Joke
Weiner Gets Warm Reception In Harlem
Restaurant Torched In 4th Night Of Swedish Riots
3D-Printed Bullets Are Terrifyingly Easy To Make
You Just KNEW There Would Be 'Tornado Truthers,' Didn't You?
LeBron Downs Pacers In OT
The 1 Chart That Reveals Just How Grossly Unfair The U.S. Tax System Has Become
Bangladesh Garment Industry Traded Workplace Safety For Jobs
A Merger Could Be On The Horizon For This Major Retailer
Malaysian Man Accused Of Rape Marries 13-Year-Old Victim
