News from July 11.

The salary cap for 06-07 has been set at $53.136 million and the
luxury tax threshold has been set at $65.42 million for 06-07 [every 
dollar a team is over the luxury tax has to be has to be paid to the 
league as a fine and then that pool of money is redistributed back to 
the teams].  The mid-level exception has been set at $5.215 million.
The July moratorium has ended and teams can now sign veteran free agents
and make trades.

Utah signed 1st round draft pick (#14) Ronnie Brewer to a 2 year, 
$3,310,440 contract with 2 more years worth $4,551,841 at the team's
option.