Can NY afford to get David Lee, Chris Bosh AND Rudy Gay? Thanks to the new salary cap and a loophole, let's Barack the answer: Yes we can. (source: Yardbarker.com)

As ESPN reported today:

The New York Knicks and other teams hoarding salary-cap space got some good news Friday when they were told at the league’s Board of Governors meeting that the projected 2010-11 salary cap will be $56.1 million.

That figure was $2 million to $3 million more than most teams had been expecting, and for the Knicks it ensures they have enough cap space this summer to sign two maximum-salary free agents.

Just yesterday Chris Sheridan was reporting that people were expecting the salary cap to be between $52.5 and $54 million, and that anything less than that upper end would make it tough for us to sign two max free agents.  In other words, wipe away that sweat, we’re sitting pretty now.  A few other interesting things gleaned from his article:

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