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NBA Increases Salary Cap For Next Season To $53.135M
Published July 12, 2006
METTLE & ‘BRON: In Akron, Brian Windhorst reports Cavaliers F LeBron James will sign a three-year contract extension for an estimated $43M, “the maximum allowable salary,” that will go into effect for the ’07-08 season. James also holds an option for a fourth year at $17M. Under the deal, James could become an unrestricted free agent in 2010, and as a seven-year veteran would be “eligible for a new maximum contract that starts at 30[%] of the salary cap” (AKRON BEACON JOURNAL, 7/12). James: “We did extensive research and with the way the CBA is set up, it makes the most business sense to sign this extension and then look at another new contract in four years” (AP, 7/12).
FOLLOW THE LEADER: ESPN.com reports Heat G Dwyane Wade, who reportedly agreed to a maximum five-year, $80M extension last week, is instead expected to sign a three-year deal with an option for a fourth year, similar to James’ extension (ESPN.com, 7/12). In Denver, Adam Thompson reports the Nuggets plan to sign F Carmelo Anthony to a five-year extension worth $80M, but Anthony’s agent, Bill Duffy, said that he expects Anthony’s contract “to include an early termination option on the fifth year,” allowing him to opt out of the deal before the 2011-2012 season. Anthony’s agents “re-examined the deal” after James decided to sign a shorter contract (DENVER POST, 7/12).