The Buyout Era Is Tainting The Game

[lakerfan10770]

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Cassell, 38, agreed to forfeit about half of the $1.7 million remaining on his $6.1 million contract, which amounts to about $850,000.
--L.A. Times

So is it safe to assume that his final cap cost (not counting any set-off) will be $5,300,000 ($6,150,000-$850,000).

[FGump]

Interesting spin by the LA Times in wording it that way, where it makes it sound like Cassell did the Clippers some sort of favor (which is BS).

I'd word it differently, in fairness:

Sterling went ahead and graciously paid Cassell an additional $850,000 (half of his future pay) for the balance of the season, even though Cassell at his own insistence is leaving to play for another team not the Clippers.

[Dunkenstein]

So is it safe to assume that his final cap cost (not counting any set-off) will be $5,300,000 ($6,150,000-$850,000).

Beware of using newspaper numbers. They tend to round them. I'd assume that the two sides agreeing to split his remaining salary is correct. If you want to know precisely what his buy-out is, figure out what percentage of the season is left (the days remaining in the season divided by 170) the day after he clears waivers (he is paid on the day he clears), multiply his salary by that percentage and then take half of that.

[lakerfan10770]

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Beware of using newspaper numbers. They tend to round them. I'd assume that the two sides agreeing to split his remaining salary is correct. If you want to know precisely what his buy-out is, figure out what percentage of the season is left (the days remaining in the season divided by 170) the day after he clears waivers (he is paid on the day he clears), multiply his salary by that percentage and then take half of that.

Here is what I got. Assuming he clears waivers on 3-1, then there are 47 days left in the season. Which would make his salary with the Clippers $5,299,853.

Calculated:
((47/170)*$6,150,000)/2 = $850,147 (amount generously given to Sam to go play for the Celtics)

$6,150,000 - $850,147 = $5,299,853

[arenas809]

Before I make my post, allow me to apologize for my actions in this thread.

It did get out of hand rather quickly, and I was kind of blind to some of the things I said.

I much rather contribute here than ruffle feathers.

Moving on...

In the last 12 hours we've had a Theo Ratliff buyout and it's been reported a Tyronn Lue buyout should be completed today.

[arenas809]

From what I've found on yahoo and slamonline is that Ratliff was still owed $3.7 million, and he walked away from all of it so he can play for a championship.

Some fans are saying he's going to retire after the season.

Not sure what the exact figure is for Giricek, but this is what was said yesterday...

According to the source, if the Sixers agreed to a buyout with Giricek, the team would save about $350,000.

[arenas809]

There's a video on the frontpage of espn.com's NBA page of J.A. Adande talking about why contract buyouts should end.

It's incredible that some of the points he makes are points that are made in this thread.

Check it out.

[Dunkenstein]

Here is what I got. Assuming he clears waivers on 3-1, then there are 47 days left in the season. Which would make his salary with the Clippers $5,299,853.

Calculated:
((47/170)*$6,150,000)/2 = $850,147 (amount generously given to Sam to go play for the Celtics)

$6,150,000 - $850,147 = $5,299,853

Since a player can't clear waivers on a weekend, the 48 hour waiver clock stops for another 48 hours. That means he can't clear waivers until March 3. And because he clears waivers on Mar 3, he still gets paid for Mar 3 by the Clippers since he was still under contract to the Clippers for more than one minute of March 3. That means that there are 28 days left of the season in March and 16 in April. So I get 44 days left in the season if he was placed on waivers on February 28.

[bgwizarfan]

I don't get it then...how can he sign with another team if he cleared waivers on March 3rd? Didn't we say that a player must clear waivers by the specific noted deadlines (i.e. he must have cleared waivers before January 10th or else the contract is guaranteed)... does this not work the same way... he can still sign with another team even though he won't clear waivers until March 3rd?

[Dunkenstein]

The rule for being eligible for playoff rosters is that
players placed on waivers after March 1st are ineligible. When they actually clear waivers is not relevant for the rule.

So when Cassell clears Monday, he can sign with any team and would be eligible to be on that team's playoff roster.

[bgwizarfan]

okay so then today at 5PM would have been the deadline i assume? That makes sense

[Dunkenstein]

No, what I said was players placed on waivers after March 1st are ineligible. That gives them all day (until Midnight EST) on March 1st to be waived and still be eligible to be on another team's playoff roster.

[HammJ]

There's a video on the frontpage of espn.com's NBA page of J.A. Adande talking about why contract buyouts should end.

It's incredible that some of the points he makes are points that are made in this thread.

Check it out.

It does make me wonder if Mr. Adande was snooping around this board...

I watched the video. Here is a summary of some of his points (not reprinted verbatim). I have a few comments.

1. Contract buyouts are making a mockery of the league

Is the system and culture of contract buyouts really worse than teams tanking toward the end of the season to get more lottery ping pong balls? Worse than a trading system that allows, and even encourages, an All-Star talent to be traded for a hill of beans? Worse than sticking to an archaic playoff system where, currently, the 4th seed in the East has a worse record than the 8th seed in the West?

How about the fiasco in Seattle surrounding the Sonics? And I say that as an Oklahoman that may benefit from the Sonics moving here.

Opinions may differ and that

[HammJ]

No, what I said was players placed on waivers after March 1st are ineligible. That gives them all day (until Midnight EST) on March 1st to be waived and still be eligible to be on another team's playoff roster.

Do you happen to know if the league office will be open on Saturday, March 1 to process these transactions? I got the idea somewhere that the league had M-F 8-5 EST hours for this sort of stuff.

[Dunkenstein]

Do you happen to know if the league office will be open on Saturday, March 1 to process these transactions? I got the idea somewhere that the league had M-F 8-5 EST hours for this sort of stuff.

All you have to do is send a fax to the league office by Midnight Saturday. The fax sheet will indicate what time it was sent. All processing will be done on Monday when the waiver clock starts running.

[bgwizarfan]

^ okay thanks, so the same logic could NOT work for the January 10th deal, right? (i.e. if January 5th is a friday and the 6th is a Saturday, while I could fax waiver papers to the league on the 6th waiving a player, the clock wouldn't start until the morning of the 8th and then he'd come off waivers the morning off the 10th, which would be too late and would fully guarantee his contract. So he'd have to be waived by that friday and though faxing the papers would be legal to do on saturday or sunday, it'd be useless since the waiver clock still starts on monday...?). Just wanted to make sure that's right - thanks

[Dunkenstein]

You got it. The main difference is that to avoid being guaranteed a player must clear waivers before January 10. On the other hand, in order to be eligible to play in the post-season for another team, a player must be waived before March 2.

In the first case, you're dealing with the 48 hour waiver clock, weekends, and the hours of operation of the league office. In the second case, you just have to inform the league by fax that a player is being waived any time before Midnight on March 1.

[GrandAdmiralDan]

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Do you happen to know if the league office will be open on Saturday, March 1 to process these transactions? I got the idea somewhere that the league had M-F 8-5 EST hours for this sort of stuff.

I don't know if today is one of those days (I don't think it is) but there are certain days when the league office is open for additional hours rather than their standard business hours.

I keep meaning to get a list of those dates but I always forget. Someone here might already have those dates.

[arenas809]

5. Brent Barry was essentially traded for himself

As has been stated elsewhere in this thread, the NBA and the NBPA at least put some restrictions on this loophole. And I admit I

[Mr. Sun]

I think there is a more fundamental issue being ignored with these out from the past taliored sign-n-trade deals and it is this: Does the CBA equally bind the league from circumventing the spirt and letter of the CBA?

If the league can act in such a way that allows certain teams to reap benefits from acts not equally available to all teams (such as signing scrubs to whatever salaries they need to make a trade work that cannot work under the spirit of the CBA), is a breach of trust and contractual obligation the league owes to teams.