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Salary cap rises slightly for upcoming season
July 8, 2010, Thursday
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THE National Basketball Association's salary cap for the 2010-11 season has been set at US$58.044 million, the league said yesterday.
The tax level has been set at US$70.307 million, meaning that any team whose combined salary exceeds that figure will pay a US$1 tax for each dollar over the limit.
The disparity between the two figures is to allow teams to meet salary exceptions that may see them exceed the cap.
During the 2009-10 season, the salary cap was US$57.70 million and the tax level was US$69.92 million.
The new salary cap and tax level go into effect at 0001 ET (0401 GMT) on Thursday, when the NBA's "moratorium period" concludes and teams can begin signing free agents.
The minimum team salary, which is 75 percent of the salary cap, is US$43.533 million.
The tax level has been set at US$70.307 million, meaning that any team whose combined salary exceeds that figure will pay a US$1 tax for each dollar over the limit.
The disparity between the two figures is to allow teams to meet salary exceptions that may see them exceed the cap.
During the 2009-10 season, the salary cap was US$57.70 million and the tax level was US$69.92 million.
The new salary cap and tax level go into effect at 0001 ET (0401 GMT) on Thursday, when the NBA's "moratorium period" concludes and teams can begin signing free agents.
The minimum team salary, which is 75 percent of the salary cap, is US$43.533 million.
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