Now that Carlos Boozer has "opted in," and Mehmet Okur and Kyle Korver have declined their "early termination options," it's looking more and more like the Jazz will be over the NBA's salary cap for the 2009-'10 season.
That doesn't include salaries for Paul Millsap and Ronnie Price, which could add another six or eight or $10 million to the total. Millsap is a restricted free agent, meaning the Jazz can match any offer he gets from another team.
So the Jazz, barring a major trade or trades, will be over the cap and will have to pay the dreaded luxury tax for the first time in franchise history. If it happens, it will probably be for just one season, since the Boozer, Okur and Korver deals are all up at the end of the year.
How did the Jazz get to this point? I think the club was expected at least one of the big contract players to "opt out," which would have given them at least a degree of salary flexibility. When that didn't happen, the Jazz virtually assured themselves of going over the cap.
The reason that's bad is that not only will the extra salaries put a strain on the bottom line, but the club will also have to pay the luxury tax, dollar for dollar, of the amount they're over.
Add to that the fact that for the first time ever the Jazz won't be receiving part of the luxury tax redistribution, it's quite a hit for a small-market team with limited revenues.
But, and here's a "pie in the sky" way to look at it, if the Jazz make a deep run into the playoffs, maybe even to the NBA Finals, then it'll all be worth it (especially since it's not my money).
