BIG Z - BUYOUT OFFICIAL 2/24

[LyricalRico]

Yet another solid move by Grunfeld to play hardball with Z to save more cash. It's gonna be great having Ernie around next season!

[verbal8]

Apparently they buyout involves big Z giving up just over 1 million.

http://basketball.realgm.com/src_wireta ... ilgauskas/

However since the trade kicker was 600K, he is really is giving up about 400K. Which he would make back on a pro-rated minimum contract. It will be interesting to see if Cleveland uses their LLE to give him a little more.

[hands11]

I think it say right in the post above yours. We pay 1 or 1.5M

[queridiculo]

I think it say right in the post above yours. We pay 1 or 1.5M

It's the other way around, Ilgauskas forfeits ~$1.5M.

[Ruzious]

can anyone breakdown how this works $$ wise for the wizards? i'm guessing, his contract is 11.5 million, half the season gone, so that leaves 5.75 million owed. he gives back 1 million, so we still need to pay him 4.75 million? or if/when he signs with someone else, they pick up his contract? but if he's resigning, isn't that a new contract? confused???

It'd be less than that. He played 53 regular season games with Cleve, and I think they allocate pay to preseason games. If I'm right, that's 61 of 90 allocated to Cleve - or 68%. So, the other 32% times 11.5 is rougly 3.7 mil. Subtract out nate's 1.1 mil, and it comes out to roughly 2.6 mil owed by the Zards - roughly the cost of a birthday party for Gilbert - but that's just my guess.

[nate33]

can anyone breakdown how this works $$ wise for the wizards? i'm guessing, his contract is 11.5 million, half the season gone, so that leaves 5.75 million owed. he gives back 1 million, so we still need to pay him 4.75 million? or if/when he signs with someone else, they pick up his contract? but if he's resigning, isn't that a new contract? confused???

It'd be less than that. He played 53 regular season games with Cleve, and I think they allocate pay to preseason games. If I'm right, that's 61 of 90 allocated to Cleve - or 68%. So, the other 32% times 11.5 is rougly 3.7 mil. Subtract out nate's 1.1 mil, and it comes out to roughly 2.6 mil owed by the Zards - roughly the cost of a birthday party for Gilbert - but that's just my guess.

It might even be less than that. Z's contract was weird in that he was paid half of his $11.5M salary on the first day of the season. The rest was prorated over the course of the season.

[dobrojim]

^ that's interesting and certainly suggests that the Wizards could have
gotten off very lightly in what they will pay Z.

[hands11]

http://voices.washingtonpost.com/wizard ... rdsinsider


But Zydrunas Ilgauskas determined that the pursuit of a priceless championship was enough that, according to a person with knowledge of the negotiations, the 7-foot-3 agreed to surrender $1.5 million in a buyout agreement with the Washington Wizards.

Ilgauskas was acquired from Cleveland as part of a three-team trade that sent Antawn Jamison to the Cavaliers. The Wizards owed Ilgauskas nearly $3.5 million on the remainder of his $11.5 million contract and Ilgauskas also received a $600,000 trade kicker as part of the deal. But Ilgauskas spent more than one-third of that money in order to play for the team of his choice.

Let me get my calculator out there.

3.5M minus 1.5 M plus 600,000 equals 2.6 M we paid him.

Looks like some previous estimate where right.

Now if he does get picked up for 1.3 or so, do that have any further affect on us ?

---- Does look like he can go to CLE ----

Dallas, Atlanta, Denver and Utah are among the teams that are expected to pursue Ilgauskas once he clears waivers. But the Cavaliers are a heavy favorite to retain his services after Ilgauskas has spent his entire career with the franchise, which drafted him in 1996. In order to return to Cleveland, Ilgauskas would have to wait until March 21. He would have to sign with another team before March 1 in order to make a postseason playoff roster.

[verbal8]

It will be interesting to see if big Z visits Atlanta and/or Dallas. I am sure he goes back to Cleveland, but I wonder how much of effort he puts into dispelling the appearance of a wink-wink deal.

[lupin]

The language in all of the news stories is confusing. Z doesn't actually write a check to the Wiz for $1M does he? Everyone writes it as he's 'giving back money.'

[verbal8]

The language in all of the news stories is confusing. Z doesn't actually write a check to the Wiz for $1M does he? Everyone writes it as he's 'giving back money.'

Most NBA contracts are guaranteed, so they end up getting paid in most situations. If Mike James and Eddy Curry get the rest of the money on their contracts, then I think it is fair to say that big Z(who actually can contribute to an NBA team) is "giving money back".

[montestewart]

So if Ilgauskas signs with the Cavs on or after March 21, will he be eligible for the Cavs playoff roster, or does the March 1 deadline apply to the Cavs as well? If it does, he probably wants to go to another team, especially if he's playing for his next contract.

[MJG]

So if Ilgauskas signs with the Cavs on or after March 21, will he be eligible for the Cavs playoff roster, or does the March 1 deadline apply to the Cavs as well? If it does, he probably wants to go to another team, especially if he's playing for his next contract.

The March 1st deadline is the date a player has to successfully clear waivers by to become playoff eligible. Assuming a player makes that cut, there is no deadline for when they have to be signed be to be put on the playoff roster (well, by the playoffs, I suppose). So, the Cavs or any other team can sign him any time in March or even April and he can play in the playoffs. The writer either made a mistake or very badly worded what they wanted meant to say.

[montestewart]

So if Ilgauskas signs with the Cavs on or after March 21, will he be eligible for the Cavs playoff roster, or does the March 1 deadline apply to the Cavs as well? If it does, he probably wants to go to another team, especially if he's playing for his next contract.

The March 1st deadline is the date a player has to successfully clear waivers by to become playoff eligible. Assuming a player makes that cut, there is no deadline for when they have to be signed be to be put on the playoff roster (well, by the playoffs, I suppose). So, the Cavs or any other team can sign him any time in March or even April and he can play in the playoffs. The writer either made a mistake or very badly worded what they wanted meant to say.

Thanks for the clarification. I've seen that March 1 deadline referred a few times in a similarly confusing manner.

So all other things being equal, Cleveland must have the advantage. Atlanta supposedly is interested in him. Does any team have an advantage as far as ability to offer more money? It seems like all the teams that would want him at this point would be well over the cap, with similar restrictions.

[verbal8]

So if Ilgauskas signs with the Cavs on or after March 21, will he be eligible for the Cavs playoff roster, or does the March 1 deadline apply to the Cavs as well? If it does, he probably wants to go to another team, especially if he's playing for his next contract.

The March 1st deadline is the date a player has to successfully clear waivers by to become playoff eligible. Assuming a player makes that cut, there is no deadline for when they have to be signed be to be put on the playoff roster (well, by the playoffs, I suppose). So, the Cavs or any other team can sign him any time in March or even April and he can play in the playoffs. The writer either made a mistake or very badly worded what they wanted meant to say.

Thanks for the clarification. I've seen that March 1 deadline referred a few times in a similarly confusing manner.

So all other things being equal, Cleveland must have the advantage. Atlanta supposedly is interested in him. Does any team have an advantage as far as ability to offer more money? It seems like all the teams that would want him at this point would be well over the cap, with similar restrictions.

I think from a strictly $ point of view the other teams maybe able to offer slightly more money because there prorated LLE would be over 30 more days. However this is not Mike James or Darko we are talking about. He wants to win a championship with Cleveland.