Jeremy Lin's Contract Saga: Part VII

[21shumpst]

If Knicks don't match, HOU @ NYK will be the most anticipated game since Lebron's return to Cleveland in 2010.

Have to disagree with you there. MSG will be a morgue. There will be very little excitement at the Garden -- more like abject depression. And Lin coming back to torch us will just be another swift kick in the pants.

Melo and Felton will get abused by the fans, I'm telling you.

as long as we're winning it won't be. and that houston team aint torching anyone.

We lost to the worst team in the history of the NBA last year.

[adrenaLINe]

This was already discussed. Why would Lin try to renegotiate Houston's offer sheet when Houston was the ONLY team to even give him an offer? It's not like there was a bidding war going on for Lin. He had no leverage to renegotiate at all. There really wasn't that much of a market for him since other GM's figured the Knicks would indeed match any offer. Morey just decided to call the bluff and thus throw a wrench in the Knicks' plans.

Morey CANT change the offer sheet WITHOUT LIN'S CONSENT. SEE LIN knew it was happening and LIN could have easily INFORMED the knicks it was happening BUT HE DID NOT. The team might have made different offers to camby, kidd, novak, IF they had known LIN was getting his offer sheet changed.

It has to be negotiated. Probably the reason the offer sheet was delayed two days while they discussed it. I would bet LIN's handlers were looking for the whole enchilada 4 yrs 40 mil (5,5,15,15) and morey was like no way.

stop it... you make it sound like the Knicks had a contract signed with Lin before he went and signed a second one upping the ante...

judging from how the Knicks front office was trying to avoid delivery of the 2nd poisen pill contract...

was the first contract ever delivered to the Knicks??? did Lin even sign it????

I doubt it...

the term signed sealed and delivered comes to mind

bottom line the Rox decided to give Lin a contract that is bigger than the Knicks want to match...

Lin went and signed it...


The Knicks front office outright attempts to avoid delivery of the contract

ostensibly saying we dont have it until you officially deliver it too us....

should tell you what the bottom line is when it comes to NBA deals...

[BeagleBoss]

Schmeelk: How Knicks Can Avoid Poison-Pill 3rd Year Of Lin Contract

As the clock ticks down to the Knicks’ Jeremy Lin deadline, they need to consider an option that seriously reduces the risk of paying such a mammoth luxury tax bill in 2014-2015.

The new CBA included a provision to make it much easier for teams to release players with bad contracts. It’s called the stretch provision. Here it is right out of Larry Coon’s invaluable CBA FAQ that can be found here: cbafaq.com.

Otherwise (if the contract or extension was signed under the current CBA), the remaining guaranteed salary is paid over twice the number of remaining years, plus one, per the Stretch provision:

•If the player’s salary payments are spread-out using the Stretch provision, the team may elect to stretch the salary cap charge to match2. For example, if two seasons remain on the player’s contract when he is waived, and the payment is spread-out over five years per the Stretch provision, then the team may elect to spread-out the salary cap hit over those same five years.
In other words, the Knicks will have the option after the 2013-2014 season to waive Jeremy Lin, take his third-year $15 million salary and spread it out with its cap hit over the following three seasons. In each of those three seasons, the Knicks would have $5 million of dead money on the cap. Doing that would all but eliminate the insane luxury tax payment the Knicks would have to endure in 2014-2015, which is supposedly stopping them from re-signing Lin.


http://newyork.cbslocal.com/2012/07/17/ ... -contract/

[Falstaffxx]

"How's that petition to re-sign Lin coming along? I hear they have a 10,000 names. Wow. (Dolan sells three times as many hot dogs in 1 night)"

- frank isola

I lol'd.

Anti-Lin people find Isola very charming.

[seren]

We are not matching it. Dolan does not give big contracts to unproven players. He gives big contracts to proven losers.

[spaceballer]

Can anyone confirm this "strech provision" Evan Roberts keeps saying? From what I understand, Dolan can strech luxary tax payment on that 3rd year an addional 3 years.

The stretch provision only works for waived or amnestied players or , not if you trade him or keep him on your roster.

For these contracts or extensions the remaining guaranteed salary for a waived player is "stretched" and paid in equal amounts over a greater time span, as follows:

If the player is waived from July 1 to August 31, then his remaining salary is paid over twice the number of years remaining on his contract, plus one. For example, if the player is waived on August 1 with two seasons remaining on his contract at $10.2 million and $10.3 million, respectively, then his remaining salary is paid over five years (two seasons times two, plus one), in even amounts of $4.1 million per year.

If the player is waived from September 1 to June 30, then the current season is paid per the normal payment schedule, and any remaining years are stretched over twice the number of years remaining plus one as described above. For example, if the player is waived on December 1 with two seasons remaining on his contract at $10.2 million and $10.5 million, respectively, then the current season (at $10.2 million) is paid normally, and the final season (at $10.5 million) is stretched over three years (one season times two, plus one) and paid in even amounts of $3.5 million per year.
http://www.cbafaq.com/salarycap.htm#Q63

[Ginger Bean]

Do you think they will announce by business day's end or let everyone sit around until midnight?

[goshjosh]

If Knicks don't match, HOU @ NYK will be the most anticipated game since Lebron's return to Cleveland in 2010.

I wish you were a casino, KG, because I'd like to lay money on several of the props you just established.

MSG Will Be A Morgue: +200 - Put me down for $200

There Will Be Very Little Excitement At The Garden: +300 - Put me down for $500

Lin Will Come Back To Torch Us: -300 - Wouldn't touch this with a 10 ft pole

I agree with KG about Lin torching us. The current Houston roster is just as good, if not better than the one we had against the Lakers when Lin went off. Lin's ball usage will sky rocket with Houston, and Lin's been shining in big games since his high school days. I just have a bad feeling about it (if it ever happens). I think he could potentially go off for 40.

[Falstaffxx]

We are not matching it. Dolan does not give big contracts to unproven players. He gives big contracts to proven losers.

You put it nicely.

[dainfamusgc]

Im glad some of you guys arent the gm seems like most of u would give lin a max deal lol. What has this guy proven. What happens when we match an the guy turns out to be a JAG


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[cgmw]

Do you think they will announce by business day's end or let everyone sit around until midnight?

If they announce while the stock market is open, they'll keep him. If they don't keep him, the announcement would come well AFTER the market closes. Not even kidding.

[GoNYK1288]

Im glad some of you guys arent the gm seems like most of u would give lin a max deal lol. What has this guy proven. What happens when we match an the guy turns out to be a JAG


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James Dolan pays a luxury tax and absolutely nothing else. Any questions?

[ag3]

Can anyone confirm this "strech provision" Evan Roberts keeps saying? From what I understand, Dolan can strech luxary tax payment on that 3rd year an addional 3 years.

The stretch provision only works for waived or amnestied players or , not if you trade him or keep him on your roster.

For these contracts or extensions the remaining guaranteed salary for a waived player is "stretched" and paid in equal amounts over a greater time span, as follows:

If the player is waived from July 1 to August 31, then his remaining salary is paid over twice the number of years remaining on his contract, plus one. For example, if the player is waived on August 1 with two seasons remaining on his contract at $10.2 million and $10.3 million, respectively, then his remaining salary is paid over five years (two seasons times two, plus one), in even amounts of $4.1 million per year.

If the player is waived from September 1 to June 30, then the current season is paid per the normal payment schedule, and any remaining years are stretched over twice the number of years remaining plus one as described above. For example, if the player is waived on December 1 with two seasons remaining on his contract at $10.2 million and $10.5 million, respectively, then the current season (at $10.2 million) is paid normally, and the final season (at $10.5 million) is stretched over three years (one season times two, plus one) and paid in even amounts of $3.5 million per year.
http://www.cbafaq.com/salarycap.htm#Q63

That's perfect for this Lin sitatuation. If Lin is the real thing, we keep him and pay the $15million + tax for 1 year in year 3.

If he is a flop, you either try and trade him and if you cant, you WAIVE him and use the stretch provision.

Its as if this stretch provision was made for this situation.

[jzmagik]

Do you think they will announce by business day's end or let everyone sit around until midnight?

Not going to announce anything, just going to let Lin walk.

[Falstaffxx]

Im glad some of you guys arent the gm seems like most of u would give lin a max deal lol. What has this guy proven. What happens when we match an the guy turns out to be a JAG


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It's about $8 million per year.

Want to hear about some actual max contracts? Joe Johnson is one. Amar'e is another.

[taj2133]

my guess we will know about lin decision at midnight tonight whether we match or let him go

[rleandry112]

If Knicks don't match, HOU @ NYK will be the most anticipated game since Lebron's return to Cleveland in 2010.

Have to disagree with you there. MSG will be a morgue. There will be very little excitement at the Garden -- more like abject depression. And Lin coming back to torch us will just be another swift kick in the pants.

Melo and Felton will get abused by the fans, I'm telling you.

and if they win, all will be forgotten, there will be plenty of excitement.

[ZeroStatic2]

Tas Melas: The Rockets have not submitted Omer Asik's offer sheet yet. Waiting on Lin? http://bullsbythehorns.com/?p=3898 #Bulls 1 minute ago

[21shumpst]

Howard Beck ‏@HowardBeckNYT
Kris Humphries will return to Nets on 2-yr, $24 mil deal. First reported by @ESPNSteinLine.
Mr. Kardashian got 12mill per.

[Realmatic]

wow, kris huphries at 12 mill per and brook lopez at 15 mill per....smh