After reading through this summary of the CBA I found the entry-level (rookie) compensation section interesting given we have to sign the #1 pick overall:

*New entry-level compensation system including the following elements:

1. All drafted players sign four-year contracts.
2. Undrafted free agents sign three-year contracts.
3. Maximum total compensation per draft class.
4. Limited contract terms.
5. Strong anti-holdout rules.
6. Clubs have option to extend the contract of a first-round draftee for a fifth year, based on agreed-upon tender amounts.

*Creation of new fund to redistribute, beginning in 2012, savings from new rookie pay system to current and retired player benefits and a veteran player performance pool.

So how is there 'savings' from this system, as far as savings compared to what? 2010 rookie salaries? An average of the last few seasons?

Gotta love the 'strong anti-holdout' rules. Nothing more frustrating than not being able to sign draft picks. Other thoughts?