February 2, 1995 |
Facing growing political pressure to end the baseball strike, owners made a major shift when they abandoned their salary cap proposal for a luxury tax. The new offer, made as talks resumed yesterday after a 40-day break, moved the owners off their central demand to reduce player salaries to 50 percent of revenue. While the owners offered two luxury tax plans in November and December, those plans would have worked as caps, since both contained escalators that would have raised the tax rates without limit until the players' share of revenue declined from 58 percent to 50 percent.
March 25, 1994 |
The salary cap for NFL teams is being increased by about $400,000 this year, a result of some accounting changes. In a joint statement, the league and the NFL Players Association said yesterday that teams will be able to spend $34.2 million on player salaries this season, up from the original $33.8 million announced in February. This is the first season of the NFL's salary cap, which was enacted as part of the new labor agreement reached last year that created a free-agent system.
October 22, 1999 |
Steve Young's decision on whether to leave football might hinge on more than his health. The salary cap of the San Francisco 49ers is certain to figure into the timing of any retirement announcement by the star quarterback, general manager Bill Walsh said. "[Money considerations] could certainly be a factor," Walsh told USA Today. The 49ers have declined comment about Young's future while he seeks additional medical opinions. Young sustained his fourth concussion in three years on Sept.
August 2, 1989 |
While the 76ers continue their search for a new roof to place over their heads, the NBA's salary cap virtually has gone through the roof. That happened yesterday, when the league announced that its cap for 23 of its 27 teams has climbed from $7.232 million to a whopping $9.802 million for next season. This year's jump represents the single largest rise since the cap was instituted in 1985-86. "As the cap spirals upward, teams are going to need to be in position to generate the necessary revenue that will, in turn, allow them to pay the competitive prices for players," said John Nash, the Sixers' general manager.
December 30, 2007 |
PORTLAND, Ore. - The 76ers traded one of their most popular players for the chance to clear more salary-cap space, signaling the first bold move by president and general manager Ed Stefanski. Fifth-year swingman Kyle Korver was sent to the Utah Jazz yesterday for guard Gordan Giricek and a future first-round draft choice. Even Stefanski, speaking by conference call, couldn't spin this move into anything more than a cap-clearing measure. The Sixers will save approximately $15 million in this deal.
October 25, 1994 |
Two players sued the NBA yesterday, alleging the league's salary cap was artificially reduced this season by $2.75 million per team. The suit was filed in federal court in Newark, N.J., by Golden State's David Wood and Minnesota's Howard Eisley. The lawsuit contends the NBA lowered the players' share of revenues by some $74 million, anticipating a contribution to a players' prepension benefit plan. But the plan was terminated by the union last June, so the suit alleges the money would improperly go back to team owners.
June 22, 2011 |
NEW YORK - Saying it reflects a "desire to go as far as we can to avoid a lockout," NBA Commissioner David Stern revealed Tuesday that owners have moved off their insistence on a hard salary cap. Players don't see it that way. So it appears the cap system remains as the biggest obstacle to a new collective bargaining agreement before the rapidly approaching June 30 deadline. Stern said the league has proposed a "flex cap," in which teams would target a uniform dollar amount to spend, but would still be permitted to exceed it up to an unspecified level.
July 11, 2007 |
The NBA set next season's salary cap at $55.63 million yesterday, paving the way for teams to begin signing free agents. The new cap goes into effect today, when the league's moratorium period ends and trades can be made. Teams have been allowed to negotiate with free agents since July 1, but the deals couldn't be completed until the new cap was determined. The salary cap will rise about $2.5 million from last season's $53.135 million figure. Also, the midlevel exception is rising from $5.2 million to $5.36 million, and the tax level is $67.87 million, up from $65.42 million.
February 22, 2003 |
The Atlanta Falcons released cornerback Ashley Ambrose, receiver Shawn Jefferson and defensive tackle Shane Dronett yesterday to move more than $12 million under the NFL salary cap. "You face tough decisions every year around this time," coach Dan Reeves said. "It's an unfortunate reality when you have to let some of your favorite people go. " Cutting the longtime veterans came a day after Atlanta re-signed Pro Bowl linebacker Keith Brooking to a 7-year deal worth about $41 million, foring the team into a major salary-cap hole.
May 16, 2009 |
The NFL's 2009 salary cap will be nearly $12 million more than last season after a final adjustment brought the total to $128 million. The salary cap is technically $123 million for 2009, an increase of about $7 million from last season, as set out in the collective bargaining agreement. About $4 million in cap room was added when a "cash-adjustment mechanism" was triggered after spending on players fell below 59.5 percent of the league's total revenue in 2008, NFL spokesman Greg Aiello told the Associated Press yesterday.