The salary floor is only 80% of the cap in 2012-13 which will be $46.435 million according to the new CBA. The salary floor doesn't get to 90% until 2014-15.
Right now, the Cavs have $32,411,415 in guaranteed salary, but if they don't waive Boobie (+2.3Mil) , and give the first round picks the customary 20% raise over scale (+1Mil), they'll be over $35 Mil with only 8 people on the roster.
Then once you add in the estimated ~$12mil they owe Baron Davis, they are over the salary floor with 8 players.
If for whatever reason they don't reach the floor, the shortfall is divided up among all the players on the team. There's no other penalty.
The Salary Cap min wasnt updated until may 8th. All the initial reports indicated 85%/ these were from agreement reports reported by sb nation, NBA.com and other various outlets.
Just for the sake of accuracy though. (And because i didnt like being wrong ) I went to the Salary release for this season from the nba.
The numbers matched with the 80%. Team training camps and the free agent period will open tomorrow with a Salary Cap of $58.044 million, a tax level of $70.307 million and a minimum team salary of $46.435 million.
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