Tue 10 Jul 2007
NBA Increases Salary Cap For 2007-2008 Season
Posted by Jeff Sack under Main
The NBA issued a statement Tuesday night that the league will increase the individual team salary cap, by more than $2 million for the 2007-2008 season. The cap will be at $55.630 million per franchise an increase from the cap of $53.135 million for last season. The league also announced an increase in the “Tax Level” to $67.685 million up from $65.42 million for the 2006-2007 campaign. If NBA franchises exceed the “Tax Level” they must then pay a stipend to the league that matches dollar for dollar any money spent above that limit for player salaries Also announced in the media release, the mid-level exception has been set at $5.356 million an increase of a little more of a $100 thousand.
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