Through the time-honoured tradition of begging, I have managed to obtain Tim Thomas' buyout amount, information that's pretty important with regards to the Bulls future personnel moves.
And I shall bring that to you now.
Tim Thomas's buyout amount
Thomas, bought out last month, was owed $6,466,600 this year in the final season of a four year contract for the full value of the Mid Level Exception that he signed with the Los Angeles Clippers in the 2006 offseason. The Bulls paid him $4,866,600 to go away, meaning they saved $1.6 million in salary for next year, and opened up $1.6 million in wiggle room under the luxury tax.
This is pretty vital, actually. The Bulls current salary situation had gotten to the point where, if Aaron Gray had accepted his qualifying offer (as he is expected to do), then the Bulls would have been into luxury tax territory. This would have necessitated an extra cost cutting move, and would have stymied any future transactions that the Bulls may have pursued.
But that's not now the case. Buying out Thomas WAS the extra cost cutting move, and because of it, the Bulls are now under the tax with all their players on board. Furthermore, after Gray accepts his qualifying offer of $1,000,497, the Bulls will still have $1,085,617, enough for one more minimum salaried player.
So start scouting your free agent lists, because we finally got something to discuss again. Personal favourites include Rashad McCants and Brian Skinner.
Incidentally, Thomas has since signed with the Mavericks, for a one year veteran's minimum salary that will pay him $1,306,455 this season. This means that Thomas gallantly gave up $293,545 this season, which is rather magnanimous of him. Although the fact that the Bulls have now paid him nearly $18 million in two separate buyouts in two separate years, just to be rid of him, would imply that it's a mutual separation.
This is pretty vital, actually. The Bulls current salary situation had gotten to the point where, if Aaron Gray had accepted his qualifying offer (as he is expected to do), then the Bulls would have been into luxury tax territory. This would have necessitated an extra cost cutting move, and would have stymied any future transactions that the Bulls may have pursued.
But that's not now the case. Buying out Thomas WAS the extra cost cutting move, and because of it, the Bulls are now under the tax with all their players on board. Furthermore, after Gray accepts his qualifying offer of $1,000,497, the Bulls will still have $1,085,617, enough for one more minimum salaried player.
So start scouting your free agent lists, because we finally got something to discuss again. Personal favourites include Rashad McCants and Brian Skinner.
Incidentally, Thomas has since signed with the Mavericks, for a one year veteran's minimum salary that will pay him $1,306,455 this season. This means that Thomas gallantly gave up $293,545 this season, which is rather magnanimous of him. Although the fact that the Bulls have now paid him nearly $18 million in two separate buyouts in two separate years, just to be rid of him, would imply that it's a mutual separation.
12 Comments
TheStig said:
Well its really good to know that we have enough for another minimum salary guy. I would love to try to pick up McCants or Gerald Green.
Doug Thonus said:
Nice work, I'd been checking my sources daily looking for it and still haven't found it.
Bigway said:
The amount of money that NBA teams have paid to players not to play or to just go away is absolutely digusting, it could certainly feed a small african nation, maybe even the whole damn continent.
This is the single most digusting aspect of the NBA. When teams are willing to pay bums like Marbury and Francis, and other equally bumlike creatures over $20 million just to stay away from the team, there is something really wrong with the game.
I am no fan of owners, or corporate fatcats in general, but stories like Thomas being bought out by the same team twice makes the average fan rout for the "evil" owners in contract negotiations.
Elimnating guaranteed contracts would be a great first step, pay for performance(winning) would be great also. Unfortunatly, the best that we can hope for is shorter guaranteed contracts, and maybe reduced max contacts and mid levels.
There is no benefit to the fan to the players making more money, we just pay higher ticket prices, get gouged for parking and cokes and beer and lousy food.
There isn't a player who wouldn't play for a measly $1million per, especially when a great majority of them would be making minimum wage otherwise. I feel the same way about movie stars and music industry people, but at least they don't charge $Thousands for court side seats. YOu can still go to a movie or buy a record for $10 bucks give or take.
Back to basketball, buying out Thomas does elimanate one more asset(a large expiring contract) at the trade deadline. This probably only matters if we make 2 major trades that would require expiring contracts, or if we were unwilling to part with Brad Miller, leaving us with only Jerome James contract. Probably not a huge issue, but just to save a few bucks for some more end of the bench scraps, doesn't seem like the smartest move to me. I am sure that there was some attitude(Thomas's) involved also
GB said:
"The amount of money that NBA teams have paid to players not to play or to just go away is absolutely digusting, it could certainly feed a small african nation, maybe even the whole damn continent."
Please don't do this. If the money involved in the NBA is immoral, then so is the money for *all* entertainers.
But all told, that's a a social issue (one I have strong feelings on as well) better discussed elsewhere.
Andrew Wamboldt said:
They should have guaranteed contracts. It's not fair for the players to be forced to honor a contract and the owner not to. It's not like Tim Thomas wanted to be sent home last time he was with the Bulls.
If the owners don't want guys like Tim Thomas on these contracts, then they should stop paying guys like Tim Thomas these contracts.
I think that is happening more and more now in the NBA. Mike James had that awesome season two years ago where he averaged 20 points on a great efficiency, and he was unable to parlay it into anything more than ~$11 million over 2 years.
The owners shouldn't be bailed out for making poor financial decisions.
Mark Deeks said:
Losing the big tradeable expiring does suck, but the significant $1.6 mil saving made it worth it. We still have $25 million in expiring, which is more than enough.
Andrew Wamboldt said:
I liked Tim Thomas' expiring contract because it's a throwaway. Brad Miller is a useful player that would probably be good next to an Amare or Bosh after a trade.
Although if we only make one big trade, Jerome James and Tyrus Thomas should probably be enough.
Hoover said:
If anyone would like to pay me to go away from posting on this site, I'm all ears. It would cost far less that the Thomas buy out and free up comment space for a young go getter, with lots of upside and witty banter potential.
GB said:
"Rashad McCants and Brian Skinner"
I can't see how they will effect winning or losing; I'm ambivilant about the end of the bench I assume.
I'd vote to go big where possible.
GB said:
Mike McGraws latest come with an interesting conclusion:
"the fundamental problem in the NBA right now is simply too many players who are wildly overpaid and locked into guaranteed contracts.
That's why teams make so many personnel decisions based on money."
Hasn't the league always made personnel decisions based on money?
That said, it is interesting to note that a couple of the really bad contracts in the NBA were first handed out were written up by the Bulls, namely Eddy Curry and Tyson Chandler.
He also has Jerome James listed and I do remember that we wanted to give McGrady a huge contract back in the day.
Doug Thonus said:
The problem is there's a lot of "what else can you do" going around with these guys. Do you pay a guy like Ben Gordon or Tyson Chandler or Luol Deng 10-12 million a year or do you let them go and replace them with someone far worse?
Teams really have few practical choices frequently. The length of the contracts is what kills them though.
Mark Deeks said:
Mike James signed for 4 years at the value of the full MLE, totalling $23,363,200. He also had a 5% trade kicker, which made the contract even bigger.
Leave a Comment?
What your comment will look like:
said: