The National Basketball Association today announced that 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.
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The Toronto Raptors announced Tuesday they have signed free-agent guard-forward Hassan Adams to a two-year contract. Per team policy, financial details were not disclosed. Adams attended the Raptors’ free agent camp held June 20-22 at Air Canada Centre.
Adams, 6-foot-4, 220 pounds, played in Italy last season. He signed in November with Ignis Draghi Novara (Lega2), where he averaged 20.0 points, 4.7 rebounds, 2.3 assists and 3.0 steals in 12 games. In March, he moved to Siviglia Wear Teramo (SerieA) and averaged 13.1 points, 4.8 rebounds, 2.0 assists and 2.0 steals in eight games.
Adams was selected 54th overall in the 2006 NBA Draft by the New Jersey Nets. He appeared in 61 games with New Jersey in the 2006-07 season, averaging 2.9 points, 1.3 rebounds and 8.1 minutes. He averaged 4.3 points, 2.9 rebounds and 18.3 minutes in eight starts. He led the Nets in scoring twice, in steals five times and in blocks four times. He posted career highs of 16 points and eight rebounds at Boston on November 29, 2006. He saw action in six postseason games with the Nets.
The native of Los Angeles averaged 14.0 points and 5.4 rebounds during his four years at the University of Arizona. He earned first-team All-Pac-10 honours as a senior, averaging a career-best 17.5 points. He finished his collegiate career as the only player in Pac-10 history to record 1,800 points, 700 rebounds and 200 steals.
Adams will participate for the Raptors’ entry in the Las Vegas Summer League (July 11-19).