Vermont Weather (2851 replies) Latest news from Albany, VT collected exclusively by city-data.com from local newspapers, TV, and radio stations. Ancestries: English (35.7%), French (19.0%), German (11.0%), French Canadian (7.1%), Italian (7.1%), Scottish (7.1%). Current Local Time: EST time zone. Incorporated in 1915.
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This minimum hasnot come into play, however, as theplayers have received about 65 percentof revenue. The salary cap becameeffective in 1994 at 64 percent, mean-ing that teams could spend no morethan 64 percent of their revenue onsalaries. The cap was 63 percent in1995, 63 percent in 1996, and 62 per-cent in 1997.For each of the 30 NFLteams the salary cap was about $41.5million in 1997.Calculation of thecap is shown in the box.There is also a rookie salary cap.It is designed to limit the salaries paidto rookies to the 1993 level of pay,about $2 million per team.asketball was the firstsport to cap salaries, in the 1984-85season, and a similar restriction wentinto effect in football in 1994. In othersports, salary caps were contested inboth the 1994-95 baseball strike andthe 1994-95 lockout in hockey.