read between the lines
Here is what it means:
in year one of the deal:
lower revenue clubs will have a floor of 22 million, higher revenue teams a floor of 24 million.
A dollar for dollar tax kicks in at 29 million
lower revenue teams can spend up to 34 million, but that includes things like bonues (which can be up to 5 million per team) and, here is the catch, it will also include any money spent as tax.
Big revenue teams can spend up to 36 million- with the same inclusions.
The last part is the most important, because if a team spends 30 in payroll, it will be at 31 total, if it spends 31, then its total will be 33, if it spends 32, then its total with tax will be 35.
This is a very creative deal and a very, very good one for the league.