Right, the MONEY from the contract is guaranteed. But, you don;t have to keep the player. A team can pay out the money that it owns on the contract, and end the contract. The team still pays the full amount of the contract, and the money paid counts toward the salary of that year, but then the following years the money is off the books.
Let's take an example from this year: Chris Webber. Signed to the 76ers at 17.6 this year and 19 next year. They did not want him. So, they bought out his contract, paying him $36.6 THIS year, but his 19 will not be there next year. With his contract now concluded, CWeb was able to find his own, new contract, which allowed him to land in Detroit.
Alonzo Mourning did the same. He got a buyout from Jersey, when they thought he would not play again after his his surgery. He got paid, AND got to go to Miami.
I only really thought about it because I hear Steve francis might get a buyout from the Knicks. I figure with the (hopeful) signings of Ellis and Biedrins this summer, a Foyle buyout will open up the room to keep these two after '08. It would mean a big hit to the team's salary in '07, as he has about $18.5 left in his contract.
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Joined: Mon Feb 26, 2007 9:30 am
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You know, extensions are already defined in the CBA. He could get up to a 10.5% raise over his salary during the last season of his contract. That would put him around the $20 million mark.
He clearly doesn't deserve that (because only a handful of players deserve so), so he'll have to sign a new contract, not an extension. As for how much he'll ask for... who knows?. It will depend on his contract year. If he has a great season, missing no more than 15 games, he'll ask for no less than $15 million. If not, he'll be cheaper.
I'd rather keep him. You know, he wouldn't be a $10 million sink. He'd be a $10 million expirer, with all the trade value those expirers have.
Buyouts are not appliable to retired players. All the money of their contracts still counts against the cap. For example, the Celtics are still paying Vin Baker... The team doesn't have to pay them (as they don't play anymore, although some teams still do it), but they do count against the cap.
The injury issue is a different exception, that allows the team to aks for an exception, so they still pay the disabled player but he doesn't count against the cap. There's a year to ask for it and a league physician has to confirm that the player is unable to perform.
For any other buyout, the player has to agree. The amount of the buyout is included against the cap (prorated) for the remaining of the contract. As buyouts are usually for lower figures, teams end up saving money. And the players can sign with other teams and recover part of the money they lost in the buyout.
My thoughts exactly. Too risky to invest so much money on him right now.
Joined: Sun May 23, 2004 9:01 am
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BD needs a decent backup and there will be a lot of Pac-10 point guards (Banks, Collison, Shakur) available in the second round. The Warriors need a rebounding AL, or a much improved OB or draft the next David Lee with our 1st pick. A top three pick would our lives easier (Durant, Ogden, HIbbert or Horford) but a playoff push and a Clipper fade would make that a mute point. With an improving Biedrins, Ellis and OB maybe we just need to upgrade Pietrus with a more savy player like Arron Afflalo.
Really?. I've missed him completely. Has he even played?. I remember he played last year for the Clips, but I thought he was retired by now.
Anyway, it was just an example. Another one would be Charlie Ward, still getting paid by the Rockets.
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