The Oklahoman (Mike Baldwin) reports on a team’s 82-game regular season schedule: “Four games against division opponents. Four games against six out-of-division conference opponents. Three games against the remaining four conference teams. Two games against teams in the opposing conference. A five-year rotation determines which out-of-division conference teams are played only three times.”

The Boston Herald reports: According to an NBA source, free agent forward James Posey has agreed to a four-year contract with the New Orleans Hornets. The Celtics had been offering three years at the full mid-level exception.
InsideHoops.com says: This hurts Boston. Posey was their best role player, by far. He exceeded all expectations, especially when it counted most. The Hornets still need more pieces to push them to the top but Posey is a very good addition. Hopefully he stays hungry despite getting his contract.

The  National  Basketball  Association today announced  that  the  Salary  Cap  for  the  2008-09 season will be $58.680 million.   The  new  Cap  goes  into  effect  immediately  as  the league’s “moratorium  period”  has ended and teams can begin signing free agents and making trades.
The  tax level for the 2008-09 season has been set at $71.150 million.  Any team whose team salary exceeds that figure will pay a $1 tax for each $1 by which it exceeds $71.150 million.
The  mid-level  exception  is $5.585 million for the 2008-09 season and the minimum  team  salary,  which  is  set at 75% of the Salary Cap, is $44.010 million.
For  the 2007-08 season, the Salary Cap was set at $55.630 million, the tax level was $67.865 million and the mid-level exception was $5.356 million.

The AP reports: Lance Young, Paul’s agent, said Paul agreed Thursday to a three-year extension with a player’s option for a fourth year. The total value of the deal is $68 million.