jumptheshark said:
the fact that the caps finished under the floor at the end of the season
Let's distinguish between "they spent less than $21.5M on player salaries over the course of the season as set in the CBA" and "at the end of the season, their total player salaries were less than $21.5M."
In the first case, the Caps absolutely were *not* under. I'd have to check my spreadsheet, but I think they were somewhere near $22.5M for the season as defined in the CBA. In the second case, yes - the players on the Caps roster had salaries (cap hits) that added to less than $21.5M.
The CBA states that teams are in compliance if, given the current roster, they will not fall below the lower limit or exceed the upper limit if that was the roster for the remainder of the season. So if the upper limit was $45M, the lower limit was $27M, and the trade deadline was 4/5ths of the way through the season, in theory a team could start the season at $35M, get to the trade deadline, then add players to get a roster whose total cap hits came to $80M, and still be in compliance with the cap.
$35M x 4/5 = $28M
$80M x 1/5 = $16M
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Total Cap Hit, Season = $44M
Or ... a team could start at $35M in the same scenario, trade off everyone at the deadline, and carry a $10M roster and still be in compliance.
$35M x 4/5 = $28M
$10M x 1/5 = $ 2M
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Total Cap Hit, Season = $30M
It's not "how much you're carrying now" as much as it is, "if you carried this roster for the rest of the season, how much would you have spent".