When the clock struck midnight, NBA teams could start officially conducting business for the 2013-14 season. Late Tuesday night, teams also learned the salary cap figures they will be working under for the upcoming season.
The NBA announced its new Salary Cap figure will be $58.679 million for the 2013-14 season, slightly higher than the previous season though not as high as once hoped. Also the league revealed the luxury tax at 71.748 million, a figure the Wizards are just under with 14 players signed for the upcoming season. Teams can have 15 players on the roster each season.
Washington entered the offseason with approximately $57 million on the books, then agreed to deals (all dollar figures are approximate) with its own free agent Martell Webster (4 years, $22 million) and former Portland guard. Eric Maynor (2 years, $4 million). On Monday, the team announced the signing of rookies Otto Porter (4 years, $19 million) and Glen Rice Jr. Those deals tack on around $12 million for the upcoming season.
Emeka Okafor ($14.5 million) is the team's highest paid player next season, followed by Nene ($13 mil), Trevor Ariza ($7.7 mil) and John Wall ($7.5 mil).
ProBasketballTalk.com has more details on other updated salary cap matters.