http://rockets.clutchfans.net/5862/chan ... am-option/
Back on April 8, 2013, I (re)wrote a piece explaining the intricacies of the NBA player contract of Chandler Parsons. This article is not intended to supersede that prior piece but rather is meant to expand upon it in certain respects and to explore the salary cap mechanics of Parsons’s contract this summer and next, depending on what avenue the Houston Rockets elect to take regarding Parsons. For those who have not yet read the prior piece, I encourage you to do so, as it will provide some background that will be helpful in understanding some of the concepts addressed here.
Also, back on September 10, 2013, Ben DuBose wrote an opinion piece about the Parsons contract situation. It is a terrific read.
This article is intended solely as an analysis of the salary cap effects of certain decisions that the Rockets make with respect to Parsons’s contract and is not intended to express an opinion on such decisions.
The Partial Guarantee And The Team Option
By Parsons having not been waived by the Rockets before January 1, 2014, Parsons’s salary for the 2014-15 season ($964,750) is now partially guaranteed for $624,771; and if Parsons is not waived by June 30, 2014, his 2014-15 salary becomes fully guaranteed.
Edited by Mr. E to fit within RealGM Guidelines. Quite a bit more at the link - go read it and feel free to discuss it all here if you'd like!