News from July 10.

The salary cap for 07-08 has been set at $55.63 million and the
luxury tax threshold has been set at $67.87 million for 07-08 [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 $5.36 million.
The July moratorium has ended and teams can now sign veteran free agents
and make trades.

Minnesota signed 1st round draft pick (#7) Corey Brewer to a 2 year,
$5,261,640 contract with 2 more years worth $6,619,592 at the team's
option.

Toronto signed Jamario Moon to a 2 year contract.

Greg Oden (Por) is scheduled to undergo a tonsillectomy on Saturday.  He
is then expected to be out 2 to 3 weeks.

Portland bought out the final 2 years of Steve Francis' contract and
released him, making him an unrestricted free agent.


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  Patricia Bender                       pbender@eskimo.com
  For NBA stuff: http://www.eskimo.com/~pbender/index.html
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