For his current deal, Kevin Love signed extension on 1/25/12 for an assumed maximum salary for 4 years that starts in 2012-13.
2012-13: $12,922,194
2013-14: $13,891,359
2014-15: $14,860,523
2015-16: $15,829,688 .. ETO
Here's the sentence that confuses me from the bible.
Larry Coon wrote: A contract that contains an Early Termination Option (ETO) cannot be extended if the ETO is exercised (ending the contract early). A contract with an option can be extended if the player opts-in. A contract with an option can also be extended if the player opts-out, as long as the extension adds at least two new seasons onto the contract (excluding any new option year) and the salary in the first year of the extension is not less than the salary in the non-exercised option year.
So does this mean there is a special case when the initial sentence is not true?
-----------------------------------
If so, I think Love's options are:
1. Accept the ETO (terminate early), and enter free agency in July of 2015. (No extension)
2. Accept the ETO (terminate early), and accept an extension (must be for at least as much money than the ETO year, and at least two years) (True?)
3. Reject the ETO, (accept fourth year) and accept an (probably three year) extension from MIN
4. Reject the ETO, and don't sign an extension I suppose - just play out 2015-16.
Also, is there an earliest date that an ETO can be rejected? Larry notes the puzzling fact that there seems there is no indication of a method for informing the league office, but I'm curious about a start date? Perhaps three years after the extension is signed?
Love is on a max deal -- anyone have the dollar amounts he could get in free agency versus in an extension? If someone already has those numbers, I thought I'd trot them over to the appropriate boards for discussion, since Love's next team seems to draw a lot of talk these days.
Thanks all!