Will someone explain to me the Childress situation?
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Will someone explain to me the Childress situation?
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ATL DirtyBird
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Will someone explain to me the Childress situation?
I would love for someone to enlighten me on the situation. DOes he count against our cap? I hear hes coming back next year!? Will he come back to play for us? Will we trade him? I have no idea whats going on and would love to know, cuz he would be great on our bench.
Is it to much to ask for a team that plays hard and cares? Seems so.
Re: Will someone explain to me the Childress situation?
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lunarblues
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Re: Will someone explain to me the Childress situation?
we hold childress's rights for the next two offseasons.
he counts 3x his QO on our salary cap (approx 10 million)
right now he's healing an injury from his greek club.
right now he makes 9 million dollars net from the greek club (which is equivent to a 13 million dollar contract in the NBA)
i'm not sure if we can trade his rights
he would have to renounce his deal with the greek club before coming back to the US.
he counts 3x his QO on our salary cap (approx 10 million)
right now he's healing an injury from his greek club.
right now he makes 9 million dollars net from the greek club (which is equivent to a 13 million dollar contract in the NBA)
i'm not sure if we can trade his rights
he would have to renounce his deal with the greek club before coming back to the US.
Re: Will someone explain to me the Childress situation?
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D21
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Re: Will someone explain to me the Childress situation?
I will try.
We can start with the fact that today (March 1st) is the last day for him (restricted free agent) to accept an offer sheet for this season, and that he needs to be not under contract with his European team to accept a NBA offer.
As I said, he is still a restricted free agent until ATL renounce his rights.
To keep his rights, ATL must submit a Q.O. (qualifying offer for the following season) to him by June 30 (each year).
Keeping his rights means that he will count against the cap but only for free agent market.
That's his cap hold, $10,894,347 (300% of his last salary).
He will count when you want to know the cap space of ATL, but his salary is not added to the other salaries for the total paid by ATL, so it can't count for tax or payroll calculations.
That means that this summer, he will count for $10,894,347, unless he's renounced (he would not count anymore) or he's signed (he would count for the first year of his new contract).
His contract with Olympiakos is a 3 years contract, but he can end it each summer.
EDIT: I wrote while you sent your post Lunarblues
It seems it was a mistake by some media, and that the reality is ATL can keep the rights as long as they want by submitting the Q.O. each year (but have each summer Childress cap hold that eats almost $11M in any potential cap space).
It's 300% (as his last salary was lower the MLE, it would have been 250% if this last salary was higher than the MLE) of his previous salary (salary from the last season played), but not 300% of his Q.O.
We can start with the fact that today (March 1st) is the last day for him (restricted free agent) to accept an offer sheet for this season, and that he needs to be not under contract with his European team to accept a NBA offer.
As I said, he is still a restricted free agent until ATL renounce his rights.
To keep his rights, ATL must submit a Q.O. (qualifying offer for the following season) to him by June 30 (each year).
Keeping his rights means that he will count against the cap but only for free agent market.
That's his cap hold, $10,894,347 (300% of his last salary).
He will count when you want to know the cap space of ATL, but his salary is not added to the other salaries for the total paid by ATL, so it can't count for tax or payroll calculations.
That means that this summer, he will count for $10,894,347, unless he's renounced (he would not count anymore) or he's signed (he would count for the first year of his new contract).
His contract with Olympiakos is a 3 years contract, but he can end it each summer.
EDIT: I wrote while you sent your post Lunarblues
lunarblues wrote:we hold childress's rights for the next two offseasons.
It seems it was a mistake by some media, and that the reality is ATL can keep the rights as long as they want by submitting the Q.O. each year (but have each summer Childress cap hold that eats almost $11M in any potential cap space).
lunarblues wrote:he counts 3x his QO
It's 300% (as his last salary was lower the MLE, it would have been 250% if this last salary was higher than the MLE) of his previous salary (salary from the last season played), but not 300% of his Q.O.