The NBA's moratorium on signings and trades ended at 11:01 p.m. Tuesday night, which is when the league announced the salary cap and other figures for the 2008-09 season. Here they are, straight from the NBA:
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.
The mid-level exception is $5.585 million for the 2008-09 season and the minimum team salary, which is set at 75% of the Salary Cap, is $44.010 million.
For the 2007-08 season, the Salary Cap was set at $55.630 million, the tax level was $67.865 million and the mid-level exception was $5.356 million.
For those wondering, the Mavs' payroll will stand at about $87 million once DeSagana Diop and J.J. Barea sign their deals, which they are expected to do today or very soon after. The Mavs' roster won't be complete however. They continue to pursue Devean George and Antoine Wright, plus other low-salary additions to round out the 15-man roster. So Mark Cuban will be paying heavily for this season.
-- Jeff Caplan