NBA salary cap up to record $70M

NEW YORK (AP) — The NBA salary cap has been set for next season at $70 million, a higher-than-expected number that paves the way for free agent contracts to be signed.

The league says Wednesday the cap increased by 11 percent and the 2015-16 cap will be the highest ever. It had been projected to come in closer to $67 million until recently.

With the cap set, the league’s moratorium will be lifted at midnight, and deals and trades that were agreed to since free agency opened on July 1 can become official beginning Thursday at 12:01 a.m. EDT.

Also, the tax level increased 10.3 percent to $84.7 million.

The salary cap is derived in part on league revenues. It is expected to vault to about $90 million for the 2016-17 season, when the league’s new national TV contracts begin.

In the meantime, there’s plenty of money for teams and players next season. Maximum salaries will rise, because they are based on a percentage of the cap, depending on a player’s years of service.

 

Report says Lin signs with Hornets

CHARLOTTE, N.C. (AP) — A person familiar with the situation says the Charlotte Hornets have agreed to a contract with free agent Jeremy Lin.

The person spoke to The Associated Press on the condition of anonymity Wednesday because the move cannot be announced until Thursday. Terms of the deal were not disclosed.

Lin is entering his sixth NBA season. He had a brief but memorable stint with the New York Knicks in 2012 and also played for the Warriors, Rockets and Lakers.

The 26-year-old Lin played in 74 games last season for the Lakers, averaging 11.2 points and 4.6 assists. He shot 42.4 percent from the field and 36.9 percent from 3-point range.

He’s expected to back up point guard Kemba Walker in Charlotte.

 

Olbermann, ESPN part ways again

NEW YORK (AP) — ESPN says it’s parting ways with Keith Olbermann as history repeats itself.

While praising Olbermann’s late-night sports show on ESPN2, the network said Wednesday it has made “a business decision to move in another direction.” It provided no details or further explanation for the program’s cancellation, but wished him “nothing but the best.”

It said the program, “Olbermann,” will end sometime this month.

ESPN’s announcement came two years after 56-year-old Olbermann returned to the network years after his tumultuous but star-making stint as a co-host of “SportsCenter” that ended bitterly in 1997.

In between, he abruptly quit his political talk show on MSNBC after eight years and joined Current TV but was taken off the air after just a year. He filed a lawsuit, which was settled out of court.

 

Fireworks accident costs Wilson fingers

CHARLOTTE, N.C. (AP) — The father of Tampa Bay cornerback C.J. Wilson told a Charlotte television station that his son lost two fingers in a July 4 fireworks accident.

Curtis Wilson Sr., appearing on WBTV, said the fireworks did not pop out of the canister when they exploded.

The Buccaneers had confirmed that Wilson injured one of his hands in the July 4 accident. And his agent also told ESPN the incident involved fireworks.

In a statement Wednesday, the team said its “primary concern at this moment is for his long-term health.”

Wilson was injured near his hometown of Lincolnton, North Carolina. He played at North Carolina State and has appeared in four NFL games over two seasons, two coming last year with the Bucs.

 

McIlroy will miss British Open

Rory McIlroy won’t be back to defend his title in the British Open.

The world’s No. 1 player announced Wednesday that a ruptured ligament in his left ankle will keep him from St. Andrews to play in the British Open. McIlroy said he injured his ankle while playing soccer with friends in Northern Ireland over the weekend.

He will be the first player to not defend his Open title since Ben Hogan in 1954.

McIlroy says his recovery is going well, but he wants to take a cautious approach. He says he only wants to compete when he is fully healthy. It was not clear how much longer he would be out.