ESPN on new cap at 56 Million

I know someone had a thread up on it already but it had no news article it was just the topic...this is for vieing purposes...feel free to talk about on the other thread if you wish...just letting you all know the full info

<DIV class=mod-article-title sizcache="0" sizset="6">Updated: April 16, 2010, 8:38 PM ET
NBA cap projection higher than thought


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<CITE class=source>By Chris Sheridan
ESPN.com
Archive </CITE>

<!-- end mod-article-title --><!-- begin story body --><!-- template inline -->NEW YORK -- The New York Knicks and other teams hoarding salary-cap space for this summer's free-agent market received surprisingly good news Friday when they were told at the league's board of governors meeting that the 2010-11 cap is projected to be $56.1 million.
<!-- INLINE MODULE -->
Coon: Cap news enlivens chase


One of the biggest free-agent markets in league history just got a lot more interesting with the new projection for the 1010-11 salary cap, writes Larry Coon. Story

? Abbott: Stern meets the press </P>

<!-- END INLINE MODULE -->
That figure was $2 million to $3 million more than most teams had been expecting and $5.7 million more than the league forecast last July as a worst-case scenario. For the Knicks, it ensures they will have enough cap space this summer to pursue two maximum-salary free agents and still have money leftover.
"That's a lot of money. That's good," said Knicks president Donnie Walsh, who attended the meeting to learn the result of the Knicks' draft position through a tiebreaker. New York lost the tiebreaker to the Clippers, and since Utah owns the rights to the Knicks' first-round pick, it slightly reduced the odds of the Jazz winning the draft lottery. The Knicks hold two second-round selections and will pick 38th and 39th overall.
Other teams with significant cap space that will be positively affected by Friday's news include the New Jersey Nets, Miami Heat, Washington Wizards, Chicago Bulls, Los Angeles Clippers and Minnesota Timberwolves.
Because of the worldwide economic downturn, the league warned teams in a memo last July to expect the salary cap for the 2010-11 season to be between $50.4 and $53.6 million. The cap for the 2009-10 season was $57.7 million.
The NBA players' union responded by threatening to file a collusion lawsuit if the league did not have a good-faith basis to predict such a precipitous drop.
A source close to several players said Friday's estimate of a $56.1 million cap "will compel" the union to take a harder look at a collusion case, exploring whether any players suffered financial harm last summer from the low cap projection, which was based on an expected 2.5 to 5 percent decline in basketball-related income.
<!-- start podcast -->
JMac & BT: Sheridan on the NBA cap

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ESPN's Chris Sheridan joins 1050 New York's McDonald and Tierney to discuss why the summer of 2010 may look a little bright for Knicks fans.
More Podcasts ?


<!-- end podcast -->
If that avenue is pursued, it would have a major impact on the ongoing talks regarding a new collective bargaining agreement to replace the one set to expire in June 2011.
"A memo of this nature can have a chilling effect on the market for free agent and rookie signings," union director Billy Hunter said last July. "If it later turns out that the league did not have a good-faith basis for making these projections, the NBPA will pursue all available legal remedies, including a treble damages claim for collusion."
Hunter was not immediately available for comment Friday.
The NBA also told teams that the luxury tax threshold for next season should come in around $68 million, nearly $2 million lower than the threshold for the '09-10 season.

Fantabulous news!!!

Paul, dude, thanks a lot for putting up all these insider stories.... It's mighty fine of you.

$56.1M! Way more than expected. I really hope Walker gets in to shape and we bring him back to NY now the extra $$$ is available.

Ahhhhhhhhh flexibility! So we have enough for 2 max and some to spare. Even if that doesn't materialize, at least that flexibility will remain going in to 2011.

Another brilliant part is that Curry's contract doesn't need to be bought out for equal or slightly less than it currently stands and can be traded at the ASG at the latest and (hopefully) by this off season, at the earliest, for a good return.

Wonderful. Magnificent. Lavish. Sweet. Plush Deluxe and so on and so forth.

Thanks again Paul!

Woo hoo!!!!!!!

Crazy8s said:

Fantabulous news!!!

Paul, dude, thanks a lot for putting up all these insider stories.... It's mighty fine of you.

$56.1M! Way more than expected. I really hope Walker gets in to shape and we bring him back to NY now the extra $$$ is available.

Ahhhhhhhhh flexibility! So we have enough for 2 max and some to spare. Even if that doesn't materialize, at least that flexibility will remain going in to 2011.

Another brilliant part is that Curry's contract doesn't need to be bought out for equal or slightly less than it currently stands and can be traded at the ASG at the latest and (hopefully) by this off season, at the earliest, for a good return.

Wonderful. Magnificent. Lavish. Sweet. Plush Deluxe and so on and so forth.

Thanks again Paul!

Woo hoo!!!!!!!

Click to expand...

your welcome my fellow Knicks fan....I hope Curry's contract comes in handy in some trade soon

Paul1355 said:

your welcome my fellow Knicks fan....I hope Curry's contract comes in handy in some trade soon

Click to expand...

well that is our only option... he is no good to us in any other way... we aren't going to resign him so there is no point in playing him... unless you want to raise his trade value..

It'll come in play. It has to. Too many teams have terrible contracts that they want to dump - namely, the Bobcats and the contracts of DeSagana Diop and Nazr Mohammed, as well as our favorite, the Hornets and the contract of Emeka Okafor. The ability to save 40 million dollars by taking on Eddy Curry's contract is just begging for the Hornets to call and knock and ask for Curry.

SSj4Wingzero said:

It'll come in play. It has to. Too many teams have terrible contracts that they want to dump - namely, the Bobcats and the contracts of DeSagana Diop and Nazr Mohammed, as well as our favorite, the Hornets and the contract of Emeka Okafor. The ability to save 40 million dollars by taking on Eddy Curry's contract is just begging for the Hornets to call and knock and ask for Curry.

Click to expand...

I see us doing nothing in free agency and getting Okafor by dumping CUrry...i'd be satisfied if we resigned Lee an got Okafor...finally a legit front court

We don't have a choice, we have to do something this summer, we have like 4 players right now...

Lets hope we do a little more than that given how much money we have and the potential scenarios..

Yeah it's a sad day when we realize that getting Emeka Okafor would actually be a huge upgrade to our offense. We do need a legitimate frontcourt - we've been drafting a ton of forwards lately but we don't have a center, Okafor might not be good offensively but he's an excellent shotblocker and a decent enough defender - not enough to guard Dwight Howard, but certainly enough to give most centers in the league a pretty hard time.

One of the things I hated the most about having to watch the Knicks this season was that any team with a legitimate center or half-decent PF breeze past our frontcourt with the undersized David Lee playing at Center - if we can play a 6'10 Gallo at PF and a 6'10 Okafor at C we'll still be undersized but Okafor is good enough of a defensive presence to make up for the fact that he's slightly undersized.

If we re-sign David Lee, trade Chandler + Curry for Collison + Okafor, and trade a 2nd rounder for Anthony Morrow (pipe dream, I know, but I want him), we can see ourselves with a team like this:

PG - Collison
SG - Morrow
SF - Gallo
PF - Lee
C - Okafor

Bench:

Walker
Douglas
Giddens
Jonathan Bender

That's a .500 team, probably good enough for the playoffs

^
but a shell of our aspirations. Don't forget Barron btw. It'd be nice to have Collison in the equation, but still that line up is pretty depressing. Regardless of how realistic it is I mean.