Ken Berger of CBS Sports has posted saying that, according to David Stern, the 2010-2011 cap estimation has been revised, and now currently sits at $56.1 million, which would put the luxury tax at around $68 million. This is only a slight drop from this past years figures ($57.7 million and $69.9 million, respectively), and much better than previous projections, which typically ranged in the $50-$53 million salary cap range.
How does this impact the Sixers? The Sixers currently sit at around $66.1 million in committed salary for next season, not including draft picks. There may still need to be some maneuvering to get under the luxury tax, but nowhere near the drastic changes once expected. Packaging $3 million plus an expiring contract to a team under the cap or with a trade exception becomes a realistic possibility. The ability to get under the luxury tax without giving up a long term contributor would be a slight relief to a team with as many problems as the Sixers have.