Woj: Ariza to Rockets (4 years, $32 million)

[Severn Hoos]

You can't rescind the QO.

Ah, thanks for clearing that up. I've been posting for a while that you could.

Actually, according the Larry Coon FAQ, you can:

If a qualifying offer is outstanding, the team can withdraw it unilaterally through July 23. It can be withdrawn after July 23 if the player consents, in which case the player is also renounced as a free agent (see question number 41). If a qualifying offer is not outstanding, then a team can relinquish its right of first refusal at any time by providing written notice.

http://www.cbafaq.com/salarycap.htm#Q44

For obvious reasons, I am reluctant to correct nate, so I do it with trepidation and the realization thatI may be misinterpreting the FAQ. But it does look like the team can rescind the offer up until the 23rd.

[nate33]

Wow. That's really weird. Thanks for clearing that up, SevernHoos.

So what exactly is the purpose of the QO? I assumed it was to provide the player a little insurance in case his team scares everyone away from bidding on him because of his RFA rights. But essentially, a team can use this to really screw a player. Extend the QO early in the year so nobody bids on him early, then withdraw the QO just as the free agency money dries up.

That's really messed up.

Good for us though. We can hang onto Seraphin as an insurance policy if we don't land a better player like Blair. And if we do land Blair, we rescind the QO.

[JAR69]

Can't the player accept the QO at any time?

[verbal8]

Wow. That's really weird. Thanks for clearing that up, SevernHoos.

So what exactly is the purpose of the QO? I assumed it was to provide the player a little insurance in case his team scares everyone away from bidding on him because of his RFA rights. But essentially, a team can use this to really screw a player. Extend the QO early in the year so nobody bids on him early, then withdraw the QO just as the free agency money dries up.

That's really messed up.

Good for us though. We can hang onto Seraphin as an insurance policy if we don't land a better player like Blair. And if we do land Blair, we rescind the QO.

Restricted Free Agency is not intended to be as lucrative as unrestricted. The best players will end up signed to extensions, so they won't even hit restricted free agency. A system without a QO at all would be even worse for players in restricted free agency, since the team would have no incentive to sign them to any contract above their cap hit until the end of free agency. Basically it would be the reverse of a hold-out with an NFL contract.

[verbal8]

Can't the player accept the QO at any time?

As long as the team has not rescinded the QO. When the QO is rescinded the player becomes an unrestricted free agent. If it occurs after July 23rd, the player must consent and the team loses any bird-type exception to retain the player. The team can pull the offer before July 23rd and retain the exception to resign that player, but lose the right-of-first refusal on the player signing with another team.

[Chocolate City Jordanaire]

Letting go of Ariza and potentially hanging on to Seraphin ... seems odd.

I hope they get Blair and let Kevin Seraphin go to get a shot at success elsewhere.


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[nate33]

Letting go of Ariza and potentially hanging on to Seraphin ... seems odd.

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It's not odd at all, CCJ. Ariza's contract was a problem because it extended past 2016. Nobody is considering retaining Seraphin for 4 years.

[Chocolate City Jordanaire]

Letting go of Ariza and potentially hanging on to Seraphin ... seems odd.

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It's not odd at all, CCJ. Ariza's contract was a problem because it extended past 2016. Nobody is considering retaining Seraphin for 4 years.

Ahh. I see.

Through all the years I just see the talent, not so much future cap implications.

One thing if they had signed Ariza 4 years: He still could have been traded in the future. Otto could have gotten burn while Webster missed games. Eventually, Ariza and his longer deal could have been traded to free a starting spot for Porter. Ariza could have been gone in time to re up Beal.

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[Severn Hoos]

nate - it does seem a bit odd that a team can extend the QO to discourage other bidders, then pull it back if the player hasn't signed. I suppose it's a bit like the Franchise tag in the NFL in that it guarantees at least 1 year at "market" rate, with a presumed incentive for both sides to work toward a longer term deal.

verbal - good comments, I think you're right that it kind of splits the difference between unrestricted free agency and the team holding all the cards. It also would seem to drive a FA who's not getting many offers to sign the QO as soon as he can - and I'm surprised Kevin hasn't done so yet.

I suspect that Kevin's agent has a signed copy of the offer sheet, and as soon as the Blair deal goes through (or even if it gets reported as a done deal), he'll fax it to the Wiz before they can rescind the QO. And probably the Wiz have the withdrawal notification drawn up as well. Could be dueling fax machines! (Yes, I know that's 20 years ago, it's just more fun to picture it going over a modem...)

I guess if the Wiz do withdraw the QO, then Seraphin would end up in exactly the same position as Booker - the Wiz holding Bird rights but no right of first refusal.