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Cap Set - Celts Pay Tax

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Yahoo reports:

The NBA salary cap for the 2009-’10 season dropped to $57.7 million, and the luxury tax threshold to $69.2 million, the league told its teams Tuesday night.

The mid-level exception is set at $5.854 million.

In the private memo to teams, the NBA reported what the seven franchises paying luxury tax had to give up to the rest of the league. The list included: The New York Knicks ($23.7 million), Dallas Mavericks ($23.6 million), Cleveland Cavaliers ($13.7 million), Boston Celtics ($8.29 million), Los Angeles Lakers ($7.1 million), Portland Trail Blazers ($5.8 million) and Phoenix Suns ($4.9 million).

For more details on what these numbers mean, see this Roy Hobbes FAQ Salary Cap article from earlier this offseason.

In somewhat related news, Andrea Bargnani is set to sign a contract extension said to be for 5 years at about $50M.  He was the first pick in the draft from the year we picked Rajon Rondo, so this deal will likely be used by both the Celtics and Rondo's agent as a benchmark of sorts.

Also, according to the AZ Republic, New York offered Grant Hill "the option of a one-year, $5 million contract or a three-year, $10 million deal."

Big Baby update - Hornets interested