NBA cap projection higher than thought
By Chris Sheridan
NEW YORK -- The New York Knicks and other teams hoarding salary-cap space got some good news Friday when they were told at the league's Board of Governors meeting that the projected 2010-11 salary cap will be $56.1 million.
That figure was $2 million to $3 million more than most teams had been expecting, and for the Knicks it ensures they have enough cap space this summer to sign two maximum-salary free agents.
"That's a lot of money. That's good," said Knicks president Donnie Walsh, who attended the meeting to learn the results of the Knicks' draft position through a tiebreaker.
Because of the worldwide economic downturn, the league had warned teams last July to expect the salary cap to be significantly lower -- perhaps as low as $51 million.
Other teams that will be positively affected by Friday's news include the Nets, Heat, Wizards, Bulls, Clippers and Timberwolves.
Chris Sheridan is an ESPN.com NBA senior writer.