Waivers question

isekii · Post #1 » by **isekii** » Wed Feb 1, 2012 7:53 pm

Lets say Nets waive Petro.

I understand his salary stays on the Nets Cap.

If he were to get picked up off waivers or if he clears that and signs as a FA does any of whatever he signs for come off our cap ?

SteveNets15 · Post #2 » by **SteveNets15** » Wed Feb 1, 2012 8:27 pm

Post #3 » by **NyCeEvO** » Wed Feb 1, 2012 10:24 pm

stevieboy wrote:no

There is your answer lol.

FGump · Post #4 » by **FGump** » Thu Feb 2, 2012 9:00 pm

isekii wrote:Lets say Nets waive Petro.

I understand his salary stays on the Nets Cap.

If he were to get picked up off waivers or if he clears that and signs as a FA does any of whatever he signs for come off our cap ?

Actually the answer is a qualified yes, not no.

"If he were to get picked up off waivers" then 100% of his salary is removed from the Nets' cap.

"If he clears [waivers] and signs as a FA" then the answer is yes, sometimes SOME of whatever he signs for come off our cap.

It depends on the amount of the new contract.

The calculation is a bit tricky, but in general, the Nets would get a reduction of the amount owed to Petro (or whoever) for half of the amount of the new contract beyond a 1 year vet minimum. Team salary (and cap) mirrors the actual payout.