Wednesday, July 07, 2010

Salary Cap, Luxury Tax Line Set

Both will be a bit higher than previously projected. The salary cap will be set at $58.044 million and the luxury tax line will be $70.307 million. The Hawks currently owe around* $64.3 million to 10 players for 2010-11.

*Depending on the details of Joe Johnson's new contract. With this cap number, Johnson's 2010-11 salary could be as high as $17.4 million and the six-year value of his deal $131.8 million.

Also announced: the MLE will be $5.765 next season. Given minimum roster requirements, the Hawks, barring moves to shed some of their current obligations, would exceed the luxury tax line were they to use the full MLE.


Bronnt said...

That would officially give Joe Johnson the biggest contract in Atlanta history. Mike Vick signed for $130 million, though of course it was terminated because he went to prison. Including Vick's signing bonus, he may have cleared about $50 million of it.

Unless I'm greatly mistaken, JJ has now signed the two largest contracts in Hawks' history.

jrauch said...

When all's said and done, Joe's going to do down as one of the more odd players in NBA history.

Two max level deals (which puts him in a rarefied group) for a guy who's never really done anything.

I'm chalking it up to ownership's fascination with the guy.

I just hope this contract doesn't become the organizational millstone I fear it will be.