batgrafix
12-18-02, 02:26 PM
according to the Observer -
NEW YORK -- Charlotte's NBA expansion team will have the fourth overall pick in the 2004 rookie draft, league deputy commissioner Russ Granik said Wednesday. That franchise, to start play in the fall of 2004, was awarded to billionaire Robert Johnson Wednesday morning.
Granik also described several other details of the terms of the expansion agreement to The Observer:
-- The team will select 14 veterans off other NBA rosters after each of the 29 existing teams is allowed to protect eight players. No existing team will lose more than one veteran.
-- There will be no salary guidelines on the dispersal draft. If the new team could avoid long-term contracts, it could hypothetically take all minimum-salaried players in the expansion draft.
-- Under the NBA's collective bargaining agreement, the team will have two-thirds of the existing cap in its first season, three-quarters in the second season, and a full cap starting in the third season.
NEW YORK -- Charlotte's NBA expansion team will have the fourth overall pick in the 2004 rookie draft, league deputy commissioner Russ Granik said Wednesday. That franchise, to start play in the fall of 2004, was awarded to billionaire Robert Johnson Wednesday morning.
Granik also described several other details of the terms of the expansion agreement to The Observer:
-- The team will select 14 veterans off other NBA rosters after each of the 29 existing teams is allowed to protect eight players. No existing team will lose more than one veteran.
-- There will be no salary guidelines on the dispersal draft. If the new team could avoid long-term contracts, it could hypothetically take all minimum-salaried players in the expansion draft.
-- Under the NBA's collective bargaining agreement, the team will have two-thirds of the existing cap in its first season, three-quarters in the second season, and a full cap starting in the third season.