NBA announces 2009 salary cap, warns about 2010

The new salary cap figure is out, and it dipped slightly from last season.

The new figures for 2009-10 just announced by the league have set the salary cap at $57.7 million per team — down $1 million from $58.7 from 2008-09 — and the luxury-tax threshold at $69.9 million.

More importantly, the league is projecting a much bigger drop (as much as $8 million) heading into the 2010 season.

The official league memorandum, obtained by ESPN.com, forecasts a dip in basketball-related income in the 2009-10 season of 2.5 percent to 5 percent, which threatens to take the 2010-11 cap down some $5 million to $8 million from last season’s $58.7 million salary cap.

A significant drop for the luxury-tax threshold is also projected going into the summer of 2010. If basketball-related income drops by 2.5 percent in 2009-10, league officials are projecting a 2010-11 salary cap of $53.6 million and a luxury-tax line of $65 million. If BRI, as it is referred to in the NBA, decreases by five percent, teams would be looking at a $50.4 million salary cap and a luxury-tax line of $61.2 million in 2010-11.

What does this mean? Well, a team like the New York Knicks, who are projected to have a payroll of about $23 million heading into 2010 would have had about $35 million to spend had the cap stayed at $58 million. That’s plenty of money to sign to superstars. If the cap drops $5-$8 million, it means that they’re projected cap space will be in the $27-$30 million range. That makes signing two “max” players quite tough.

This is probably good news for teams looking to retain their superstars, since they can go over the cap to re-sign players. If the cap does indeed drop to $50 million, it would increase the chances of LeBron James, Dwyane Wade and Joe Johnson staying put.

NBA Rumors: Bosh and Wade talk about 2010, David Lee to Portland, and more

Chris Bosh discussed Miami as a possible destination next summer.

“As of right now, I’m not sure. I like Miami, don’t get me wrong. But I don’t know what comes along with being a part of that organization. I don’t even have any friends in Miami, which was the funniest part. A close friend of mine hit me yesterday and was like ‘Hey there’s another article out’ and I was like ‘What now?’ ‘Apparently a friend in Miami said you’re going to Miami.’ He sent me the article and I read it, and I’m like, ‘now they’re just making stuff up.’”

For Heat fans, re-signing Dwyane Wade and signing Bosh would be a dream scenario next summer. The best thing Miami has going for it (other than South Beach, of course) is Wade, so if Bosh signs he better hope that Wade doesn’t pull an Elton Brand and bolt. Speaking of…

Dwyane Wade discussed his hometown of Chicago as a possible destination next summer.

“I’m not ruling out a lot of places, including Chicago, but I’m not really thinking about those places. Like I said, 2010 is the year when I will sit down and open up my options and, hopefully, I’m still blessed and healthy to have those options and then go from there. But Miami is my number one option and I’ve made that clear. That’s where I want to be and, hopefully, we can get everything right here in Miami.”

Wade is just keeping his options open. He has said repeatedly that he’d like to stay in Miami, but he’s keeping the organization’s feet to the fire by insinuating that he still might leave if the franchise is unable to surround him with good players. The Heat are projected to have significant cap space next summer, so they could conceivably sign Chris Bosh, Amare Stoudemire or even LeBron James.

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