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IN J.R.’S POCKET: A league source confirmed that J.R. Smith has already been paid $8.974 million of the $17 million contract he signed three weeks ago. Smith agreed to a two-year deal worth $11 million with a player option for a third season. Five days after agreeing to a new contract, Smith had knee surgery that, according to the club, will sideline him up to four months.

Advances: No salary can be paid before July 1 of the season in which it is earned, but players can be advanced some their salary before the first league payday on November 15. Except in the case of a minimum-salary player, the salary advance is limited to either 80% of the player's guaranteed salary, or 50% of his base salary, whichever is less. In addition, no more than 25% of the player's base salary can be paid prior to October 1. For minimum-salary players the salary advance is limited to either 80% of the player's guaranteed salary, or 7.5% of his base salary, whichever is less, and the advance is deducted from the player's November 15 paycheck (and December 1, if necessary).

Loans: Players may be given loans which must be repaid out of their salary. The amount of a loan can't exceed the player's remaining amount of guaranteed salary for that season, although the loan can be repaid over the number of remaining seasons that are fully guaranteed (and don't follow options or ETOs). For example, a player with three fully-guaranteed years remaining on his contract at $10 million per season can be loaned $10 million, and repay the loan over three years. Loans may not be given to minimum-salary players. If the player is not charged interest, or the interest rate is below the market rate2, the difference is considered to be salary and is included in team salary. Any loan forgiveness is considered to be a contract renegotiation. Loans are not permitted in rookie scale contracts for first round draft picks.

answerthink wrote:The amount that Smith is being frontloaded is an advance, and is subject to those rules.

While I do not have the specifics of his contract (and others can feel free to provide it), it is very likely that he is receiving the maximum 50% of his base salary as an advance prior to each season. He would therefore be receiving $8.974 million in advance payments over time.

HartfordWhalers wrote:

Advances: In addition, no more than 25% of the player's base salary can be paid prior to October 1.

http://www.cbafaq.com/salarycap.htm#Q110