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But for all the figures and terms and legal mumbo-jumbo on the lengthy document, which was finalized early yesterday, there is one number that certainly attracted the attention of the 76ers right away - $61.7 million. That's the threshold for the NBA luxury tax. Any team with a payroll that exceeds that figure must pay a dollar-for-dollar tax on anything above $61.7 million.

And that presents a dilemma for Sixers president and general manager Billy King. The Sixers are well over the threshold figure. By the time all the contracts shake out during this off-season, they could be as much as $10 million over, if not more.

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Although official figures aren't known, the three players will make an estimated $13 million combined in the first year of their new contracts, including at least $7 million for Dalembert, who will earn approximately $60 million over the next six seasons.

That swells the payroll to $65.8 million. Still to be decided is whether Michael Bradley, who came to the Sixers last February in the Webber deal, will exercise his option for 2005-06 at $819,550, and how much of the $5 million mid-level exception will be used by King to sign unrestricted free agents.

The mid-level exception is available to the Sixers since the team is over the salary cap, which will be set at $49.5 million for the coming season, an increase of $5.63 million from the previous season.

If Bradley stays and King spends the entire $5 million, that increases the payroll to more than $71 million.

Then there is the matter of signing rookie Louis Williams, the Sixers' second-round pick in the June draft, and undrafted free agents who may make the roster, sending the total inching up to $72 million.

The total does not include $10 million due Jamal Mashburn, who is not expected to play anymore because of a bad right knee. The Sixers can apply for cap relief for Mashburn in February and should get it, since he missed all of last season.

Still, a luxury tax payment of around $10 million isn't a good thing. King does have a tool at his disposal to lower that fee - a provision of the bargaining agreement that gives a team a one-time chance to waive a player under contract and be relieved of luxury tax liability on that contract.

National speculation had Webber falling into that category, but Webber isn't expected to go anywhere, because his departure would leave the Sixers without a key rebounder and starting power forward. A more likely casualty if King utilizes the so-called tax amnesty rule would be veteran guard Aaron McKie, who is slated to earn $6 million this season.

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Of course, that's just my opinion. I could be wrong.

Peace
LBD