There is the alternative option. You can download artmoney from here
http://www.artmoney.ru/e_download_se.htm (get the free version)
(or any other memory editor) and edit 43840 (i did it 438400 ) ; the changes are not permanent so everytime you load your salary cap will be back to 43840 but you can use it when trade or sign players. If you are patient enough you can also find the tags and edit player's salaries. For those who dont know how to use a memory editor read below
1. install the memory editor and run the game , then alt+tab and load editor
2. open proccesses bar and select the game (nba live 2005 in our case)
3. hit search and type 43840 in the box (its an integer so you dont have to change anything else) then move all the findings to right box
4. You will get many tags containing 43840 number (i ve got 49 ) try to edit them , most of them will not allow you to do that but there are two that they will ( 23rd and 25th was in my search) EDIT THEM
5. Delete all other tags(on the right box) except the two we are interested on and SAVE the table for future use.
Using the same method you can add dynasty points , just type your dynasty points on the search then move findings on the right box , go spend some dynasty points on scouting then go back to editor and shieve using the new number (if you have 200 DP and spend 50 go search for 150 ) , save the table - afaik dynasty points are not change every time you load. You can also do other more rediculus things like freeze opponent's score on zero , freeze clock etc but thats a bit more advanced
have fun.