7.6 million is the floor according to this with the additions added to this .. not after it
The salary cap, known officially as
Total Player Payments, is A$8,212,500 for the 2011 season with a salary floor of $7,596,562.50 (except for the
Gold Coast expansion team, whose salary cap will be A$9,212,500 with a salary floor of A$8,596,562.50).
[
http://www.afl.com.au/portals/0/afl...collective_bargaining_agreement_2007_2011.pdf
(e) 2011 - $8,212,500.
11. 2 In calculation of the Total Player Payments for each AFL Club,
the following
payments will not be taken into account:
(d) the percentage of Football Payments as determined in accordance with
clause 13.3 to Players nominated as veteran Players on the AFL Clubs
Primary List or included on the AFL Clubs Veterans List; (u could pay 800K but only 400K would count in the cap and for 2 players. this instantly ups the cap to $9m ie Parra could pay Hindmarsh 900K but only 450K counts to the salary cap)
(e) the Football Payments made to a Rookie temporarily promoted to the
Primary List of an AFL Club to replace a Player transferred to the Long
Term Injury List;
(f) subject to clause 16, payments made to a Player pursuant to a bona fide
marketing contract made in accordance with the Guidelines for Additional
Services Agreements; ($550K)
(g) testimonial payments made to an AFL Player in accordance with clause 15;
(h) Match payments (at the Players contract rate for Matches played in the AFL
Premiership Season) made to AFL Players participating in the AFL Finals
Series Matches or the finals allowance determined by AFL from year-toyear, whichever is the greater;
(j) 50% of Football Payments to Rookie Players nominated under clause 14;
(l) prize money paid to Players in accordance with paragraph 17 of Schedule B;
(m) top 5 draft pick recognition payments made to Players in accordance with
paragraph 2.7 of Schedule B
you can see where St Kilda could easily pay 11.5M.
The 7,596,000 number is 92.5% of the salary cap. you cannot pay below that number and that number still has all those exclusions.