ESPN.com: Bulls reach agreement on signing the veteran Lindsey Hunter.
The Chicago Bulls, in another move to try to fortify their backcourt after the free-agent departure of Ben Gordon, have reached terms on a new contract with veteran guard Lindsey Hunter.
Sources with knowledge of the deal told ESPN.com that Hunter is receiving a one-year contract for the veteran minimum of $1.3 million, similar to the one-year deal for $2 million that the Bulls just completed with Jannero Pargo.
If the Bulls re-sign Hunter for only a one year minimum salary contract - and they'd be foolish to do anything other than that - then he will count on the Bulls salary cap as $825,487. He would actually be paid $1,306,455, as the article suggests; however, the league would pay the balance between those two figures.
(Also note: Pargo signed for the full value of the Bi Annual Exception, which is actually $1,990,000. Am I anal? Yes. I am anal.)
That, then, puts the Bulls salary situation like this:
Brad Miller - $12,250,000
Luol Deng - $10,365,000
Kirk Hinrich - $9,500,000
Jerome James - $6,600,000
Tim Thomas - $6,466,600
John Salmons - $6,429,151
Derrick Rose - $5,184,480
Tyrus Thomas - $4,743,598
Joakim Noah - $2,445,680
Jannero Pargo - $1,990,000
James Johnson - $1,594,080
Taj Gibson - $1,039,800
Linton Johnson - $1,033,342
Aaron Gray - $1,000,497 (qualifying offer)
Anthony Roberson - $855,189
Lindsey Hunter - $825,497
DeMarcus Nelson - $736,420
Total: $73,059,334
The luxury tax threshold is $69,920,000 next season, and as things stand, once Hunter signs, the Bulls will be $3,139,334 over it. The three unguaranteed salaries of Johnson, Nelson and Roberson total $2,624,954.
Boys, pack your bags.
That wouldn't be enough on its own, though. This also means that we can't now afford Aaron Gray. Even if the Bulls retracted his QO and re-signed him for the minimum, he'd count against the cap at at least $825,497, the minimum salary for a third year player. And that would leave the Bulls $339,383 over the tax threshold still.
Lindsey Hunter just put us into the tax threshold. They now have to make a further cost cutting move to get under it again. His "locker room presence" had better be worth it.
Filed under: Uncategorized
Tags: Aaron Gray, Cash Rules Everything Around Me, chicago bulls, Lindsey Hunter, Signings
Without Gray as well, yes. But after all the minutes he's gotten for two straight years, two years of fully guaranteed salary
Also, letting Gray walk means the Bulls will only have thirteen players. Three of those thirteen will be James (unfit to play until further notice), Tim Thomas (crap) and Lindsey Hunter (crap). That's pretty poor, to be honest.
We need more depth but can't afford it. Something'll have to happen.
Some kind of trade along the lines of Tim Thomas, Jerome James and cash to the Clippers in exchange for Quentin Richardson and Ricky Davis will have to happen. All four contracts are expiring, but the two incoming deals total about $2 million less. That gives us wiggle room to add some depth.
This is, of course, minus a big unforeseen deal which we should still hold out hope for.
Wow, I dont know if this was Gars decision or Paxs but the bulls are coninuing to lose respect from me.
What's wrong with Lindsey Hunter?
I dont have a problem with Hunter, I think he is a good vet presence. I only think that the fact that we went into the Luxury Tax without bringing in someone who will make a signifigant impact on the team consistently us dumb IMO. I just wish we would have done more but thats wishing outside of the Bulls norm.
I think that you are putting a horse a little bit ahead of the wagon. All it means that if all of those salaries stay on the roster for some day in the summer of 2010 (I do not recall the exact date but it is definitely after the season end and before the free agency) then the Bulls will be liable or that amount of the luxury tax that you allude to. So what it most likely means that between now and then the Bulls will almost surely either get involved in a trade to shed a small surplus, or simply buy out a veteran, like Tim Thomas or even Lindsey Hunter.
That's not really any different to what I said. It's just a different solution to the same problem.
Linton Johnson must go, we already have too many forwards, that saves $1 mill. Next big move is trading Hinrich, which should be almost $10 mill going out, and if we bring $8 mill in salary back, then that saves $2 mill more. That is the $3 mill we need to get under the luxury tax. There are 17 players listed on the roster above, so at least 2 and probably 3 or 4 will have to go. I expect Aaron Gray to be traded for a draft pick, maybe 2nd rounder. Seems I remember a few teams inquiring about him at the trade deadline. Lastly, remember that we have until the February trade deadline to actually get under the cap. It looks as though the Bulls are positioning themselves to trade several players for few or one, like a trade for T-Mac. I am not sure who it will be for. I wish it were Bosh or Wade, we will see what happens.
Oh and the date for the luxury tax "snapshot", if you will, is the last day of the regular season.