"It turns out Joe Johnson's six-year, maximum contract with the Hawks will be worth more than expected.

The NBA announced Wednesday that next season's salary cap is set at $58.044 million, about $2 million more than the league had projected. It's a so-called "soft cap" because teams can spend above it using several exceptions, including one the Hawks will use to re-sign Johnson.

Johnson's 2010-11 salary, which is based on a percentage of the salary cap, will be about $16.4 million. He will receive raises of 10.5 percent of the first season's salary each subsequent season, for a total contract value of about $124 million.

Johnson and other free agents can't sign contracts until after midnight Wednesday. After Johnson signs, the Hawks will have roughly $65 million in salaries committed to 10 players, including Jordan Crawford, the team's first-round draft pick whose salary will be restricted by the rookie scale.

The NBA set the luxury-tax threshold at $70.307 million, with team payroll above that amount taxed at 100 percent. Hawks owners are said to be willing to pay the tax if they believe it will improve the team, which made disappointing exits from the second round of the playoffs the past two seasons."