Teams hoping to score in free agency got some happy news on Wednesday when the NBA announced the 2010 salary cap would be right at $58 million, up from the projected $56.1 million most teams were using. This will give teams like the Miami Heat, Chicago Bulls, and New York Knicks even more money to chase after the remaining free agents on the market. The luxury-tax line also went up to $70.3 million for the 2010-11 season.The cap went into effect at 12:01 AM this morning, when the moratorium on signing free agents was lifted and players became free to sign contracts. Eleven teams, including the Los Angeles Lakers, were informed they would be paying the luxury tax this season. The defending champs will pay $21.4 to the league offices before July 23. They are the only team out of the eleven to be above the $20 million barrier. The remaining 19 teams will receive a $3.7 million rebate from the league.
