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Chron: $24 million offer to Posey puts Rockets in quandary

Discussion in 'Houston Rockets: Game Action & Roster Moves' started by Faos, Jul 24, 2003.

  1. Faos

    Faos Contributing Member

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    http://www.chron.com/cs/CDA/ssistory.mpl/sports/2009445

    $24 million offer to Posey puts Rockets in quandary

    By JONATHAN FEIGEN
    Copyright 2003 Houston Chronicle

    The Rockets had long since made keeping James Posey their top free-agent priority. Wednesday, they found out what he will cost, a price tag they likely will consider beyond their means.

    Posey, a 6-8 forward, signed an offer sheet with the Memphis Grizzlies on Wednesday worth $24 million over four years, according to Posey's agent Mark Bartelstein. To offer that contract, the Grizzlies would have to put together a contract worth all of their $4.9 million midlevel salary-cap exception and the largest annual raises allowed.

    Because Posey, 26, is a restricted free agent, the Rockets have 15 days to match the offer to keep Posey.

    Rockets general manager Carroll Dawson said the Rockets would not decide whether to match the offer until he officially receives it today and considers the Rockets' other free-agent options.

    But because the Rockets' payroll is in excess of $55 million before signing Posey and other players needed to complete the roster, keeping Posey likely would cost the Rockets his salary and as much money in luxury taxes, a price they are unlikely to pay. This season's luxury tax is assessed when teams' annual salaries exceed $52.9 million.

    "We have to look at all the options," Dawson said. "We have two weeks. We'll have to see. We have time."

    But the Rockets would seem to have few options. The only free-agent offer they have made was the $2.445 million qualifying offer they made to Posey last month. Now that Posey has signed an offer sheet, the Rockets cannot use him in a sign-and-trade deal, though that would not have solved their luxury-tax issue anyway.

    They have shown interest in the Los Angeles Clippers' Eric Piatkowski, a 6-7 guard who could provide depth at small forward while bringing the perimeter shooting touch Rockets coach Jeff Van Gundy said the team needs.

    Bryon Russell, who opted out of his contract in Washington, is coming off a second consecutive poor season, but would fill the Rockets' need if he returns to his form of earlier in his career in Utah.

    The Rockets could try to add another shooter in the backcourt.

    Detroit Pistons guard Jon Barry and Toronto Raptors guard Voshon Lenard, both proven shooters, remain free agents. San Antonio's Stephen Jackson also is unsigned, but he likely will command a richer contract to remain with the Spurs than the Rockets will offer.

    The Rockets also have shown interest in adding a veteran point guard.

    The Jazz's Mark Jackson, second in NBA career assists, might be willing to play another season at a veteran's minimum. Chicago Bulls free agent Rick Brunson had his best seasons as a reserve for Van Gundy in New York. The Dallas Mavericks' Raja Bell, though not a playmaking point guard, is an outstanding defensive player at both guard positions.

    But the plan was to keep Posey. The Grizzlies, with a glut of small forwards and shooting guards, were not expected to interfere with that strategy. That changed Wednesday when Memphis and Posey gave the Rockets 15 days to come up with a Plan B.

    Chronicle staff writer Megan Manfull contributed to this report.
     
  2. NIKEstrad

    NIKEstrad Contributing Member
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    Ugh. C'mon Feigen, how many times will you get the luxury tax wrong? The 52.9 figure means as much as last year's salary cap- not much.

    Someone needs a proof reader...call a guy a guard and say he provides depth at forward? :confused:

    The Brunson connection is interesting...Bryon Russell would also be a good cheap pick up.
     
  3. Faos

    Faos Contributing Member

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    Bryon Russell. Hmmmm.

    I'll have to think about that one.
     
  4. BmwM3

    BmwM3 Contributing Member

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    I wouldn't mind picking up Bryon Russell.
     
  5. Wolfhound

    Wolfhound Member

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    So long Posey...that is way too much money for him!! I say we sign Raja Bell we need the D in the back court and see if Jim Jackson will come play the 3.
     
  6. RocksMillenium

    RocksMillenium Contributing Member

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    I would to! I wanted the Rocks to pick up Russell last year, he brings a lot of the same things that Posey bring, but is cheaper and a better outside shooter when open, though he got lost in the shuffle in that debacle in Washington. The money Posey is getting is to much, I wouldn't have a problem if the Rockets brought in Russell and Piatkowski. I think Stephen Jackson is available, would like him, but definitely Russell is a nice back-up plan.
     
  7. Likemike33

    Likemike33 Member

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    i saw a lot of Wizards game last year and Bryan russell as been a dissapointment, he's shooting touch have been terrible and he's athletisism has left him. We don't need him. Raja bell will be a good addition.
     
  8. GRAYsquirrel

    GRAYsquirrel Member

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    I like the idea of Mark Jackson a lot. He'd be cheap and could provide veteran leadership. I mean, isn't he what we've always wanted?!?.......A much needed PG for an assist-challenged team (MJ's 2nd all time in assists!) to distribute the ball in an offense set up around Yao, and which could allow Steve to switch between the 1 and 2, and have Cat return to his 6th man role...

    Then all we'd need is the banger/enforcer to complete the puzzle......I say, call in The Worm!!! :D
     
  9. speedball

    speedball Contributing Member

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    NOOOOOOO!!!! Worm would be too distracted here--the MONTROSS!!!
     
  10. GRAYsquirrel

    GRAYsquirrel Member

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    Did you mean MONTROSS, or MONTROSE? He'd probably fit in just fine over there!
    ;)
    Seriously though, he's a much needed defender and rebounder, will b*tch slap anybody who messes with Yao (though Yao would probably be scared of him), and shouldn't cost too much and would probably agree to a 1-year deal. JVG would lay down the law if he transgressed, but he'd sure be good for a couple of laughs!
     
  11. JuanValdez

    JuanValdez Contributing Member

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    I'm doing an about-face. This article makes me think it is time to blow the team up. Whether Posey is really worth the full MLE is debatable and, really, beside the point. If the Rockets have a payroll of around $55 million and are afraid of the luxury tax -- and they've made it clear that they are -- then they need to rebuild. They can keep Yao, since he's young and on the rookie scale, but they should clear out everyone else that makes decent money and start over. I'm sick of the luxury tax capping us at mediocrity. I know it'll never happen with the new arena and everything, but they obviously don't have the commitment to be contenders on the road they've started down.
     
  12. Deuce

    Deuce Context & Nuance

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    Frustrating! No question! :(
     
  13. CRC

    CRC Member

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    JuanValdez,

    We've been in rebuilding mode for the past 4 years & I just don't see we can do much even blowing up the current roster... with the luxury tax in mind no body wants to get a bunch of overpaid players such as mochie & cato... no need to mention it's so hard to trade & get quality players in return these days... It's easier to build on what we have right now & see what other pieces are needed & go from there...

    Even if we keep Posey, his huge salary will definitely comeback & hurt our trade flexibility somewhere down the road....
     
  14. Nova

    Nova Member

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    Hey, I wouldn't mind the idea of getting Raja Bell. If we really end up with a problem at sf, we could always stick Hawkins there as backup or starter depending on matchups and have Raja Bell be backup for Mobley. He's a good defender and can score a couple of points. He's gotten better throughout his career.
     
  15. TheFreak

    TheFreak Contributing Member

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    James Posey is not going to make the Rockets contenders. Not now, not ever.
     
  16. pasox2

    pasox2 Contributing Member
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    damn caplock....

    I kind of like Mark Jackson at the minimum. He can prep Steve and act as a player coach. He has the NY connection with JVG and Pat Ewing. Drills would be more effective. Maybe he'd even get something out of Moochie ;). Sounds like a good pickup to me.
     
  17. brocktoon

    brocktoon Contributing Member

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    SportsRadio 610 is reporting that the deal between Posey and the Grizzlies is actually 4 years, $29 million.

    SportsRadio 610
     
  18. dharocks

    dharocks Contributing Member

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    I think Jerry West gambled here... He probably expected us to match, just because our front office has awarded mediocre players with huge contracts in the past. What I want to know is, do you guys think CD might do it again? I have a feeling he will.
     
  19. JuanValdez

    JuanValdez Contributing Member

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    Don't mind me, I'm just in a terribly bad mood. What's frustrating is not that we don't have cap flexibility -- there are teams that are successful without it. What is frustrating is that we started down a path of buying contention and don't have the fortitude to see it through to the end. Teams can spend into contention (like Dallas and Portland) even if it sometimes doesn't work in the long-term (see New York and, again, Portland). We started that by being unafraid to pay for talent. I don't worry about the mis-steps. After several years of following this policy, they do an about face at the luxury tax threshold and say we're not willing to pay for talent anymore. If they didn't have the cajones to see it through, they should have never started. They can start on the new path of financial responsibility with Posey, but it will be years before we're done with the effects of the previous policy and, in the meantime, the careers of Steve Francis and Yao Ming are slipping away. You can't just change horses in the middle of the race like that.
     
  20. codell

    codell Contributing Member

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    This site has it at 4 years, $23 Million:

    http://www.gomemphis.com/mca/grizzlies/article/0,1426,MCA_475_2131626,00.html

    Posey appears set to join Griz
    By Ronald Tillery
    tillery@gomemphis.com
    July 24, 2003

    The Grizzlies entered this offseason in dire need of front court bulk and backcourt defense. They attempted to bolster the latter Wednesday by signing Houston Rockets free-agent swingman James Posey to an offer sheet worth $23 million over four years.

    Posey, 26, received a contract that pays the full $4.9 million midlevel exception in the first year.


    Because Posey is a restricted free agent, the Rockets have 15 days, or before Aug. 7, to match the deal. However, Posey's Chicago-based agent Mark Bartelstein said he believes his client will wear a Grizzlies uniform this season.

    "Houston wanted him back. But they couldn't make a financial commitment until next year," Bartelstein said. "They're contemplating (a match). But they have a major luxury-tax burden."

    The Rockets made Posey a qualifying offer of $2.445 million but likely won't pay nearly $5 million to retain him.

    Should Houston pass on Posey as expected, the Griz would add immediate help at shooting guard in the event Michael Dickerson (sports hernia) can't play for a third season. Posey also would see action at small forward.

    Posey, 6-8, 215 pounds, is considered a durable and defensive-minded player.

    "He gives us another tremendous athlete, someone who can guard people in the backcourt," Griz president Jerry West said. "Like I've said, we need to collect talent down there. Now if we can add a big guy to the mix, we've taken a major step in two years."

    With only a $1.5 million exception left to spend, the Griz are exploring trade options to add a center.

    In free agency, the Grizzlies originally pursued Portland's Scottie Pippen and Atlanta's Ira Newble before settling on Posey. Pippen went to Chicago, and Newble signed with Cleveland.

    Posey was also a third option for Chicago, after Pippen and Newble.

    "That's just the nature of free agency," Bartelstein said. "Players have choices and teams have choices. Eventually you come to a deal."

    In four seasons, Posey averaged 9.4 points, five rebounds and 1.3 steals. He played three seasons with Denver before a Dec. 18, 2002 trade that sent him to Houston. Posey led the team in steals during each of his three seasons with Denver. The Nuggets traded Posey because he would have been an unrestricted free agent with them, and the team didn't want to lose Posey without compensation.

    Posey also led the Nuggets in turnovers and was shooting 37 percent.
     

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