Knicks owner James Dolan is frustrated the lockout rages on and the club’s season opener tomorrow against the Heat at the Garden has been wiped out. But Dolan, part of the owners’ negotiating committee, is content about one of the agreed-upon aspects of a new collective bargaining agreement: the size of the salary cap will not go down.
More than any team in the NBA, that will benefit Dolan’s big-market Knicks the most, ironically.
According to multiple sources, one of the resolved issues in a new CBA is the 2011 salary cap will remain at the level as it was in 2010 — $58 million.
“That’s what we’ve been discussing, though the exact dollar amount is not set until the new deal is done,’’ said one league source, who added no new talks have yet been scheduled.
Economic projections from sources say the salary cap will then grow to about $60-$61 million in 2012, when the Knicks will have the largest cap space in the league and have room to woo either Chris Paul, Deron Williams or Dwight Howard, who are slated to become free agents. The Knicks could be at least $20 million under the projected 2012 cap.
— Reported by Marc Berman of the New York Post