Chris Paul agrees to 3 yr, $68M extension with Hornets

JordansBulls · Post #1 » by **JordansBulls** » Fri Jul 4, 2008 12:43 am

Hornets All-Star point guard Chris Paul agreed to a three-year contract extension with a player option for a fourth year, his agent Lance Young said Thursday.

The deal is estimated at $68 million, which will push Paul's yearly salary starting in 2009-10 to more than $20 million per season. Under NBA rules, Paul cannot sign the deal until July 9.

"The deal is done,'' said Young, who declined to go into more specifics regarding the deal.

Serpo · Post #2 » by **Serpo** » Fri Jul 4, 2008 12:46 am

3 years is kinda short . But well.

Maybe he wouldn't commit for longer.

Post #3 » by **Flash3** » Fri Jul 4, 2008 12:50 am

WTF?

$22M/season?

thegreatblaze · Post #4 » by **thegreatblaze** » Fri Jul 4, 2008 12:51 am

22.6 mil a year. Damn.

Well deserved though.

PimpHandStrong · Post #5 » by **PimpHandStrong** » Fri Jul 4, 2008 12:55 am

Unless the salary cap jumps to $82million next season (it was $55.6million this season), this is not possible. Either Chris Paul's agent or the guy who wrote the article doesn't have a clue how the NBA salary cap works.

PimpHandStrong · Post #6 » by **PimpHandStrong** » Fri Jul 4, 2008 1:02 am

If the rumored cap of $58.5million is correct, the following is the most he can get in a 3 or 4 year contract:

3 years, $48.5million
4 years, $67.7million

So I'm guessing the reported amount includes the option year. Whoever wrote that blurb (starting salary of $20mil in 2009/10) is a moron.

Nothingface · Post #7 » by **Nothingface** » Fri Jul 4, 2008 1:05 am

I can't imagine him getting that much.

Trilogy · Post #8 » by **Trilogy** » Fri Jul 4, 2008 1:06 am

PimpHandStrong wrote:If the rumored cap of $58.5million is correct, the following is the most he can get in a 3 or 4 year contract:

3 years, $48.5million
4 years, $67.7million

So I'm guessing the reported amount includes the option year. Whoever wrote that blurb (starting salary of $20mil in 2009/10) is a moron.

Yea, that seems like what it is.

carrottop12 · Post #9 » by **carrottop12** » Fri Jul 4, 2008 1:17 am

It's 68 Mil if he takes the player option extension only.

The CBA doesn't allow the Hornets to offer him 22 per year right off the back. Just a poorly worded article.

If he takes the fourth year, it's roughly 17 mil a year for four years. Pretty standard for a star.

legacyinthemakin89c · Post #10 » by **legacyinthemakin89c** » Fri Jul 4, 2008 1:23 am

He's doing the same thing Lebron and Wade did. He took the shorter contract, so for when it is up, he will be eligible for the max money an nba player can make. It seems like more a financial move then a "wait and see if we compete" approach.

kookie_819 · Post #11 » by **kookie_819** » Fri Jul 4, 2008 1:30 am

Paul to New York in 2011? Maybe that's why he signed for such a short amount of years lol :wink:

LiquidFire · Post #12 » by **LiquidFire** » Fri Jul 4, 2008 1:39 am

(USER WAS BANNED FOR HOT LINKING THIS PICTURE.)

milkii · Post #13 » by **milkii** » Fri Jul 4, 2008 1:40 am

he's good, he deserves it.

Smirk · Post #14 » by **Smirk** » Fri Jul 4, 2008 2:25 am

I thought he was going to leave the Hornets and sign with Portland? Or with the OKC Methlabs?

Guess not.

Cro_Ruption · Post #15 » by **Cro_Ruption** » Fri Jul 4, 2008 2:49 am

well deserved thats all i gotta say , future hall of famer and mvp , nice job the NO management is doing.

BROWN · Post #16 » by **BROWN** » Fri Jul 4, 2008 4:52 am

Good signing, should've been longer.

Post #17 » by **NO-KG-AI** » Fri Jul 4, 2008 5:10 am

Well we get him next year, and then at least 3 years of the extension, then a possibly option year... so 4 more years at the least, he'll stick around if we are building around him, if not, then he would (rightfully) leave.

PHXfan85 · Post #18 » by **PHXfan85** » Fri Jul 4, 2008 5:36 am

LiquidFire wrote:(USER WAS BANNED FOR HOT LINKING THIS PICTURE.)

What does "hot linking" mean?

ph1sh55 · Post #19 » by **ph1sh55** » Fri Jul 4, 2008 5:38 am

i presume he was linking some picture not hosted on his own webspace or a free image host; and it likely was inappropriate?

PHXfan85 · Post #20 » by **PHXfan85** » Fri Jul 4, 2008 5:47 am

Bleh. Beats me...

...anyways, good news for CP3. There goes my dream of having another MVP PG on the Suns though.