NBA's salary-cap reduction will have no effect on Bulls.(Sports)

0 Comments | Daily Herald (Arlington Heights, IL), July, 2002 | by McGraw, Mike

Byline: Mike McGraw Daily Herald Sports Writer News that the NBA's salary cap has decreased for the first time in history was greeted with a yawn at the Berto Center. The league announced late Tuesday night that the salary cap would drop from $42.5 million last year to $40.27 million for the 2002-03 season.

"It won't affect us at all," said Bulls general manager Jerry Krause. The Bulls were one of the few teams that could have cleared room under the cap to sign free agents. Instead, Krause decided to remain above the cap by not renouncing free agents Charles Oakley and Travis Best, then use the two exceptions to add players. Earlier this month, Krause thought the mid-level exception, which is equal to the league's average salary, would increase to...