The Cleveland Cavaliers, Golden State Warriors, Oklahoma City Thunder and Washington Wizards made luxury tax payments this season.

The Cavaliers paid the most at $50.7 million, followed by the Warriors at $32.3 million, the Thunder at $25.4 million and the Wizards at $7 million.

The Chicago Bulls and Dallas Mavericks were surcharged for being below the minimum team salary.

The NBA is projecting the 19-20 salary cap to hit $109 million.

The cap will rise to $116 million for 20-21.

The salary cap is set $101.9 million for the 18-19 season.

The NBA has set the salary cap the 18-19 season at $101,869,000 with a tax line of $123,733,000.

The salary cap floor is set at $91.682 million.

The NBA cap has climbed from $70 million in 15-16 to $94.1 million in 16-17 and $99.09 million in 17-18.

Madison Square Garden may sell off the New York Knicks and New York Rangers by way of a tax-free distribution to shareholders.

MSG stock increased upon the announcement.

The Knicks are believed to be worth an estimated $3.6 billion.

"We believe this proposed transaction would provide each company with enhanced strategic flexibility, its own defined business focus and clear investment characteristics,” said James Dolan.

Dolan has interest in building MSG Sphere, which are planned entertainment venues in Las Vegas and London. Those venues could cost $1 billion each.

Dolan reportedly has increased his interest in the entertainment business while lessening his sports franchises. 

Other notable publicly traded sports franchises are the premier league's Manchester United, controlled by the Glazer family, and the Green Bay Packers.

NBA Board of Governors Chairman and Toronto Raptors Governor Larry Tanenbaum announced today that Commissioner Adam Silver’s contract has been extended through the 2023-24 NBA season. 

Prior to becoming Commissioner in February 2014, Silver served as NBA Deputy Commissioner and Chief Operating Officer for eight years. He joined the league in 1992.

Financial terms were not disclosed.

The NBA has raised the available credit line to owners to $325 million, which is a $75 million increase.

The move by the NBA could soften the impact of higher team payrolls and luxury tax penalties next season.

The Board of Governors unanimously passed the increased debt limit in a vote on Friday.

A few weeks after repeatedly mentioning how the NBA has a soft cap instead of a hard cap when asked about parity, Adam Silver brought up the topic again on the eve of the draft.

"There's always a next collective bargaining agreement and over the years we've talked about a harder cap than we have now," said Silver. "The NFL has a much harder cap than we do; ours is somewhat soft. Obviously, it allows teams to go significantly above the cap and the tax level and that's the case with both Golden State and Cleveland. They are significantly above where our tax level is right now."

Silver admitted he hears complaints from owners and fans.

"The 28 other teams, they're the biggest complainers that these two teams have met four times in a row [in the NBA Finals]. Ultimately, collectively our 30 teams are in charge with what system we have, along with the players. And by the way, the players on 29 other teams want a system regardless of where they are drafted or where they sign to be able to compete for championships, and that's what you want," he said.

Silver said the NBA doesn't "want to go about breaking up teams just to break them up, just to force some sort of parity that is kind of unnatural."

The NBA has sent a memo to all 30 teams on Friday indicating that the one-and-done rule could be eliminated as early as 2021.

The memo does not mention the one-and-done rule by name, but it is meant to remind teams the league and the players union could agree to scrap one-and-one before the expiration of the current collective bargaining deal in 2024.

The first draft in which the rule is changed will surely be loaded with the best prospects from two straight high school classes.

The memo serves as something of an advisory to teams who might think about trading away future first-round picks in the lead-up to Thursday's draft. 

The league instituted the one-and-done rule in 2005, but it has since been met with criticism on many sides of the issue.

The league will discuss the issue further during annual meetings at Summer League in Las Vegas, the memo says.

The cost to advertise during the 2018 NBA Finals is up from 2017.

An ad spot for Game 3 is averaging $634,627 per unit. In 2017, ad ad unit was going for $607,156 per unit.

Using those figures as a guideline, ABC will lose out on as much as $50 million in ad sales revenue for each game the Finals is cut short by.

According to AdWeek, the upfront unit cost is $679,000 for 2018 compared to $535,325 in 2017.

The Milwaukee Bucks have agreed upon a seven-year, $200 million television deal with Fox Sports Wisconsin.

Fox will pay the bucks $26 million for their rights next season, up from $20 million last season.

With 4 percent annual escalators, the contract averages around $30 million per year. 

The Bucks’ previous deal with Fox Sports Wisconsin carried an annual average in the high teens.

Increased interest in the team is reflected in its local RSN ratings that this past season rose almost 6 percent to its highest TV ratings in more than 12 years.