Can a veteran sign a contract extension for less than the last yr of his current contract? I see no reason why not, but I hear people say you cant.
As an example ill use rudy gay. Assume he opts-in for his last yr and he is extended 2 more yrs. Can those 2 yrs be in the 14m range? His salary would look like $17,888,932 $19,317,326 $14,000,000 $14,000,000
Contract extensions
Contract extensions
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nodeal
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Re: Contract extensions
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answerthink
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Re: Contract extensions
Yes.
The only restriction is for contracts that are renegotiated and extended simultaneously. In such situations, the first year of the extended term may decrease by no more than 40% of the as-renegotiated salary in the last year of the original term.
The only restriction is for contracts that are renegotiated and extended simultaneously. In such situations, the first year of the extended term may decrease by no more than 40% of the as-renegotiated salary in the last year of the original term.