The NBA salary cap will jump from $40.5 million to $43.8 million
for the 2003-2004 season, ESPN's David Aldridge reports, a
financial bonanza for signed veteran players and free agents.
For example, Jermaine O'Neal, who re-signed with the Indiana Pacers
for $122 million, now goes to $126 million. And Nets star Jason Kidd's
salary jumps $4 million to $103 million. The mid-level exception for
veteran players such as Gary Payton rises to $4.91 million.
The new figure also aids teams like Miami and Utah, which lost
big-name stars to free agency but will now have significant cap
room to sign players.
Players received almost 65 percent of basketball-related income
before they gave 10 percent of their salaries as a result of the
escrow tax. After the escrow tax payments, the players received
59.5 percent of basketball related income.
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