2008-09 Salary Cap set to $58.680 million

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.

Raptors sign Hassan Adams

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).

Joe Prunty is new Blazers assistant

The Portland Trail Blazers named Joe Prunty an assistant coach, it was announced today by general manager Kevin Pritchard.

Prunty spent the last three seasons as an assistant coach with the Dallas Mavericks. Prior to his time in Dallas, he served for nine seasons with the San Antonio Spurs as assistant video coordinator, video coordinator, advance scout and most recently, assistant coach. During his time with the Spurs, the team won three NBA Championships.

More info on Prunty is here.

The big story about the Blazers going into next season is that they expect to have the full services of center Greg Oden. Hopefully that serious surgery he had doesn’t have a permanent effect. It could prevent him from being 100 percent for a full season. Or two. Or forever.

Acie Law working hard

The Atlanta Journal-Constitution (Sekou Smith) reports: Save for a two week break, Acie Law’s been working out relentlessly since the Hawks’ playoff run ended. He said he’s hungry as ever and will not let up come mini-camp and summer league (next week in Atlanta for mini-camp and the following week and a half in Salt Lake City for mini-camp). Coach Mike Woodson was all smiles seeing Law on the floor so early and already having worked up a ferocious sweat while working on his shot and an assortment of other things during his early morning workout. Law retired to the weight room (allowing me a few minutes to trade questions and answers with Woodson for an upcoming piece on Law) and when he finished with that part of his routine he headed out the door for a therapy session for his injured wrist that caused him problems during his rookie season (he said the wrist feels fine and that the therapy three days a week has done wonders).

Earl Watson has right thumb surgery

General Manager Sam Presti announced today that guard Earl Watson underwent successful surgery yesterday in Los Angeles for a fracture of the right thumb. Watson suffered the injury on Monday while preparing for the upcoming season in a basketball game in Los Angeles. Watson is expected to make a full recovery and be available for the start of the 2008-09 season.

Last season, Watson averaged career highs in points (10.7), assists (6.8), rebounds (2.9) and minutes (29.1). Over his seven-year NBA career, Watson has averaged 7.4 ppg, 4.5 apg and 2.2 rpg in 529 games.

InsideHoops.com says: Either Watson or Luke Ridnour (probably Ridnour) may be traded by the time next season starts.

Gilbert Arenas agrees to new Wizards deal

The Washington Times (Mike Jones) reports: Wizards guard Gilbert Arenas has informed Wizards team president Ernie Grunfeld he will agree to a six-year deal worth $111 million, in his words, giving back roughly $16 million of the max, $127 million deal the team offered him Tuesday morning. “This is in line with what I’ve been saying the whole time,” Arenas said Thursday evening in a telephone conversation from China. “You see players take max deals and they financially bind their teams. I don’t wanna be one of those players and three years down the road your team is strapped and can’t do anything about it.”

Sonics move to OKC. New name soon

The Sonics are officially moving to Oklahoma City (see the news), but the team name will remain with the city of Seattle. I just spoke with an Oklahoma City-based representative of the team, and was told that they will reveal the new name “soon.” I was told they haven’t actually decided on a final new name yet, and that OKC ownership is working with the league and accepting their suggestions while making the final selection.

– Jeff

Kendrick Perkins and Bill Walker have surgery

The Boston Celtics announced today that center Kendrick Perkins and second round draft pick Bill Walker both had successful surgical procedures today at New England Baptist Hospital.  Perkins underwent arthroscopic left shoulder surgery while Walker underwent arthroscopic right knee surgery.  Both surgeries were preformed by Team Physician Dr. Brian McKeon and was assisted by Dr. Alan Curtis and Dr. John Richmond.  No timetable has been set for their return.

Danny Granger wants extension

The Indianapolis Star reports: Danny Granger’s long-range future with the Indiana Pacers could be settled later this summer. The 6-9 swingman, who was the Pacers’ leading scorer last season in his third year in the NBA, is eligible for a long-term extension. His agent, Mark Bartelstein, said he’ll likely begin talks with the Pacers in a few weeks… Granger is scheduled to make $2.3 million next season, after which he becomes a restricted free agent. The Pacers must at least make a qualifying offer of $3.3 million for 2009-10 to retain the right to match any free agent offer he receives.