Salary Cap

[Commissioner]

Based on my calculations, our salary cap may be too high. I have asked the EFS administration to reduce our cap to $70 million with another possible reduction possible based on the outcome of this season's annual and performance based salary increases. According my calcuations, our current salary cap will be a non-issue for at least three seasons, while I expect total payrolls to steadily decline based on lower rookie based salaries and a decline of veteran based salaries which are substantially higher.

I am waiting on confirmation from the EFS Administration.