The NBA salary cap for the 2010-11 season was set Wednesday at $58.044 million, $2 million more than the league's most recent projection and $8 million more than the worst-case scenario that the league laid out last summer. In fact, the salary cap rose from last season's figure of $57.7 million on what sources told CBSSports.com were the highest revenues in NBA history.
The mid-level exception, which is tied directly to average player salaries, will go down from $5.85 million to $5.765 million -- an important distinction for the upcoming collective bargaining negotiation. In revealing during All-Star weekend in Dallas that the NBA was projected to lose $400 million this past season, Commissioner David Stern blamed escalating player salaries for the losses. But given the decline in teh mid-level exception, player compensation and benefits declined during the 2009-10 season.