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Seeing a resurgence of CP3 buyout tweets on the TL lately and all I have to say is:
no
no
Here are reasons:
1: Chris Paul not only makes a lot of money, he was one of the main movers behind the changing of the rules to allow older players to receive longer term contracts. He ain't giving money back, or at least not a lot.
1: Chris Paul not only makes a lot of money, he was one of the main movers behind the changing of the rules to allow older players to receive longer term contracts. He ain't giving money back, or at least not a lot.
2: "But Chris Paul only has a year left and then it's an option!"
Options are usually considered part of guaranteed salary for the purposes of calculations. It depends on the language of the contract, but most are this way (and I'd bet you a lot that CP3's is).
Options are usually considered part of guaranteed salary for the purposes of calculations. It depends on the language of the contract, but most are this way (and I'd bet you a lot that CP3's is).
3: Teams are limited to 15% of the cap in stretched salary. The contract in all likelihood has to be stretched, which means either getting deep enough into next season to eat the money straight up for one and then paying 2 stretched or paying for 5 stretched.
Sorry, not just stretched. Dead money period. Stretches just the most common.
This doesn't apply to current seasons (which is why stuff like the Hawks' Melo buyout can happen).
This doesn't apply to current seasons (which is why stuff like the Hawks' Melo buyout can happen).
Cap hit is stretched evenly across the seasons.
In a 1+2 scenario without giving anything back, CP3 would be paid out full salary in 2020-21 plus two years of just over $22mil cap hit apiece. (Yes, set-off can help, but not much).
In a 1+2 scenario without giving anything back, CP3 would be paid out full salary in 2020-21 plus two years of just over $22mil cap hit apiece. (Yes, set-off can help, but not much).
If you're keeping score at home, 15% of 109m likely salary cap is a hair over $16 million,
Stretch it over 5 and you're looking at just over $17 mil per year.
Stretch it over 5 and you're looking at just over $17 mil per year.
Of course, it's always possible that CP3 could lower his contract numbers enough in a buyout to get it under that 15%.
In which case you're still left asking "why is any team (presumably the Thunder) paying a man $15 million a year for 5 years to play for someone else". /fin
In which case you're still left asking "why is any team (presumably the Thunder) paying a man $15 million a year for 5 years to play for someone else". /fin
TL;DR photoshop someone else you thirsty Lakers fans
I also can't remember and can't find in CBAFAQ how possible it is to rework years other than the last year of a contract for a buyout. I want to say it's fine (Larry Sanders?) but don't recall.
