I was reading through CBA examples and I was wondering what happens with someone like Gordon Giricek.
Giricek was traded from Utah to Philadelphia on December 29th, 2007.
So thats mean's Philly is responsible for his salary for the remainder of the year, right?
Then he was waived on February 29th by the Sixers. He signed with the Suns of March 4th.
How much of his contract is picked up total by the Sixers if his contract is $4.0 million this year?
Giricek - Traded, released and signed
Giricek - Traded, released and signed
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grantdovey
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It depends if Giricek was bought out or if he was flat out released. All $4 million was on the Sixers cap before then (and even if it wasn't fully guaranteed from the outset, it was by the time the Sixers waived him since it was after January 10th).
The Suns simply pay him the minimum prorated salary for a cap charge of ($770,610 X (Days Left in Reg Season/170)). I'm guessing there was some sort of buyout involved here that allowed the Sixers to save a few bucks, even if Giricek was a minimum salary player, since set-off would not come into play.
Now as far as who is actually paying the bills for the contract, I believe he simply gets paid by each team based on the amount of time he was there (so Jazz up until the trade and then the Sixers). So I don't think the Sixers actually will have paid him $4 million this year, but his cap charge would be $4 million if there was no buyout (it ends up relatively evening out since the Sixers would have paid Korver for the time he was there, and since salaries have to be near each other when teams trade with one another, teams usually end up actually paying similar amounts).
I need Gump, Dunk, or Larry to clarify the whole "writing the checks" issue here, but I think that's how it works
The Suns simply pay him the minimum prorated salary for a cap charge of ($770,610 X (Days Left in Reg Season/170)). I'm guessing there was some sort of buyout involved here that allowed the Sixers to save a few bucks, even if Giricek was a minimum salary player, since set-off would not come into play.
Now as far as who is actually paying the bills for the contract, I believe he simply gets paid by each team based on the amount of time he was there (so Jazz up until the trade and then the Sixers). So I don't think the Sixers actually will have paid him $4 million this year, but his cap charge would be $4 million if there was no buyout (it ends up relatively evening out since the Sixers would have paid Korver for the time he was there, and since salaries have to be near each other when teams trade with one another, teams usually end up actually paying similar amounts).
I need Gump, Dunk, or Larry to clarify the whole "writing the checks" issue here, but I think that's how it works
