Salary Cap Is Set for the 2007-08 season

The salary cap for the 2007-08 NBA season will be set at $55,630,000.

The mid-level exception for over-the-cap teams is $5,356,000, and the luxury tax threshold will be $67,865,000.

What does that mean for the Cavaliers:

  • The Cavaliers currently have about $64.5 million committed to salaries for next season.
  • The Cavaliers have $5,356,000 to spend with their mid-level exception and $1.8 million with the veteran’s exception.
  • The Cavaliers might be over tax threshold for the first time in franchise history as they look to re-sign free agents Anderson Varejao and Sasha Pavlovic.
  • For every dollar the Cavs spend over tax threshold, they will have to pay a dollar into a fund that is dispersed to teams under the tax line.

Lebron James will make about $43 million over the next three years and has an option for 2010-11 season that is worth about $17 million.

Sources: ESPN.com, Akron Beacon Journal

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Published by Luke Ross

Luke Ross, is the founder of CavsNews.com. Luke grew up watching and playing soccer but his heart was always in Basketball. Luke arrived in Cleveland in 1993 and turned into a Cavaliers fan since.