CELTICS GREEN BLOG by and for boston celtics fans: Salary Cap Set at $58.68 Million

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RETRIEVING CONTENT...PLEASE WAIT

Salary Cap Set at $58.68 Million
Tuesday, July 8, 2008

by FLCeltsFan 11:31 PM

ESPN is reporting that the league has set the salary cap at $58.68 million. The luxury tax threshold will be $71.15 million, and the value of the mid-level exception is set at $5.585 million.

The Celtics payroll is at $71 million right now with just 9 players under contract. Every player they sign now will cost them double because of the luxury tax. With Brand, Maggette and Pietrus agreeing to terms with teams, that leaves James Posey alone at the top of the desired free agent list. The Celtics need to increase their offer to him or he will likely go to one of their competitors and that may come back to haunt them in the playoffs.

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