News from July 13.

The new salary cap for 04-05 was announced as $43.87 million and the mid
level exception is $4.9 million.  The July moratorium has ended and teams
may begin signing free agents and making trades.

Devean George (LAL) underwent surgery on his left ankle to remove bone
spurs and fragments and tighten ligaments.  He is expected to be out 4
months.

Fred Jones (Ind) underwent surgery to repair his left shoulder injury.  He
is expected to be out 18 weeks.

Phoenix signed restricted free agent Quentin Richardson to a 6 year, $45
million offer sheet.  The LA Clippers have 15 days to match the offer.