Sam Amick of SI.com was able to secure a copy of the tentative NBA agreement, which lists the 17 general points that the owners and players have agreed to use as a framework for the remainder of a deal. You can read the entire document here.
From that agreement, here are a few key points, and how they affect the Nets going forward:
The money: The cap will remain at least $58 million for the next two seasons under the new CBA. The cap may shrink in 2013-14, but that largely depends on projections for BRI that year.
Net gain: Since the Nets are going all-in for the summer of 2012, they’ll have to structure their cap space to ensure they’ve got enough for an additional max contract in addition to Deron Williams. They’ve already got a good head start on that, since outside of D-Will they’ve only got short, inexpensive contracts. A guaranteed cap at $58 million all but guarantees that the Nets will have that space.
The floor: The salary “floor” (i.e. the minimum salary each team must hit year to year) is raised from 75% in the previous CBA to 85% in 2011-12 and 2012-13, then 90% thereafter.
Net gain: The floor is one of the main reasons the Nets signed Travis Outlaw, Jordan Farmar, Anthony Morrow, and Johan Petro to a combined $18 million per year — you have to spend the money, even if the players aren’t the ones you systematically destroyed your franchise for.
As mentioned yesterday, this requires the Nets to spend at least $15 million this season in free agency, and maintain that figure into 2012-13. Even if the cap declines in 2013, the floor’s increase ensures that the minimum salary likely won’t dip under $49 million.
The contracts: The maximum contract length is shortened to five years, four for free agents, four for rookie contract extensions (with one exception that doesn’t affect the Nets), and three for sign-and-trades. Annual raises are 7.5% for Bird players, and 4.5% for non-Bird players (If you’re not sure what Bird rights are, Larry Coon’s CBA FAQ can help you out). Maximum salaries are set at 30% of the cap (or $17.4 million in the next two years), and cannot be used in sign-and-trades.
Net gain: The good news? The Nets can offer one year and $27 million more to Deron Williams than anyone else. The bad news? The Magic can offer Dwight Howard one year and $27 million more than anyone else. And Florida has no income tax. Hope Brooklyn is as big as we think.
Amnesty: “Each team permitted to waive 1 player prior to any season of the CBA (only for contracts in place at the inception of the CBA) and have 100% of the player’s salary removed from team salary for Cap and Tax purposes.”
Net gain: Guess.