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Thread: Salary cap situation

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    Default Salary cap situation

    Hey whats up guys? Can anyone please explain to me the whole salary cap and being over/under situation? I don't understand the salary cap concept.

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    Member hoop115's Avatar
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    Default Re: Salary cap situation

    Originally Posted by nyk33334
    Hey whats up guys? Can anyone please explain to me the whole salary cap and being over/under situation? I don't understand the salary cap concept.
    the league sets a maximum $$$ amount that a teams' payroll can be for the upcoming season. if a team goes over that amount then the luxury tax kicks in. a team would have to pay $1 for every dollar they go over. this years salary cap is set around $49.5 million dollars.

    the new cba is willing to give a one-time amnesty clause allowing a team to cut a player with that player's contract counting against the salary cap but not against the luxury tax.

    ie. if the knicks are going to be $40MM over the salary cap this, they would have to pay a $40MM luxury tax. houston's contract is something like $18MM this year and $19MM next year. If we cut him, we would still be $40MM over the salary cap (preventing us from signing any significant players) but we would only have to pay $22MM this year and $23MM next year (assuming cap will stay the same)

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    Superstar ny3nyk's Avatar
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    yea i was about to say that but i was just testing him to see if he knows...*writing everything down on a pad*

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    Veteran JJtheKnick's Avatar
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    thats the knicks #1 problem the damn Salary cap situation. If the knicks get under i think we can contend

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