A Little Bad Luck For the Knicks

This was just reported today, the NBA salary cap has been reduced for next season. We all know how that negatively effects the Knicks.

The actual memo from the NBA regarding the salary cap

Thanks to theknicksblog.com, here is some more content on the situation;

“…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.

“Teams should be aware of this projected BRI decrease,” reads the memo, “and plan accordingly.”

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…”