Precisions on the Salary Cap

During the season

Max allowed: $64.3 Mils

Floor: $48.3 Mils

During the off season, you can go over this amount by 10%, so

$70.73 Mil

You have to be back below the max amount allowed by the first day of the regular season.

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Extensions:  based on next year salary cap. Matt is working on it so we can go over this by 10% as well, but keep in mind that the salary cap will probably go down next year.  So if you sign players for 70$ M for next year and salary cap goes down to, lets say,  58$ M , you might be in trouble ;-)