NBA Playoffs & News Update: League to Increase Salary Cap; May Help Bulls Steal Carmelo Anthony

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First Posted: Apr 21, 2014 05:25 AM EDT

Carmelo Anthony is about to enter the free agent market and a lot of NBA teams have shown interest in acquiring the talented forward from the New York Knicks. The problem is, many of the potential franchises are already maxed out in their salary caps. Houston is spending a lot on Dwight Howard and James Harden, while the Chicago Bulls is paying for the likes of Joakim Noah, Derrick Rose and Luol Deng.

In a report by ESPN, NBA teams received good news when they were given a league memorandum during the third week of April that the salary cap would be increased by around $5 million. For the 2014 to 2015 NBA season, all 30 teams will have a spending ceiling of $63.2 million. Previously, the top was $58.6 million. The announcement caused franchises to immediately rethink their strategies in the upcoming season, particularly those who did not make the playoffs.

Although, several teams have already expressed their interests in signing Anthony, the New York Knicks have special preference by offering to retain him for five years in exchange for $130 million.

This is the first time that Anthony has missed the playoffs in his career. Other teams can afford four years in exchange for a $96 million contract, the maximum allowed to those who can actually afford it, writes Bleacher Report.

Larry Coon, NBA salary cap expert, computed the figures and said that the Knicks still has the greatest buying power for Anthony. However, the Bulls have an edge by offering something that Carmelo has long dreamed for and which his fellow rookie mates Lebron James and Dwyane Wade already have - an NBA title. Anthony understands very well that his tenure with the Knicks will render very little results. His career is almost at an end and he needs to ponder on his options carefully.

According to Fansided, like Lebron James and his move to Miami, Anthony might put monetary rewards aside to be with equally talented teammates who can pave the way to a Finals visit.

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