Wednesday , Jul , 09 , 2008 C.Y. Ellis

NBA Salary Cap Set at $58.68 Million

The National Basketball Association today announced that the Salary Cap for the 2008-09 season will be $58.680 million. The new Cap goes into effect immediately as the league’s "moratorium period" has ended and teams can begin signing free agents and making trades.

The tax level for the 2008-09 season has been set at $71.150 million. Any team whose team salary exceeds that figure will pay a $1 tax for each $1 by which it exceeds $71.150 million.$58680_million/