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Fox: Posey will sign offer sheet tomorrow, Rockets offer at 2.5 million.

Discussion in 'Houston Rockets: Game Action & Roster Moves' started by NIKEstrad, Jul 22, 2003.

  1. NIKEstrad

    NIKEstrad Contributing Member
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    Posey was interviewed. Hard to really judge his body language.

    3 quotes-

    "It's a lot about security."

    "I really enjoyed being here."

    "The ball is in their court."

    2.5 mill is surprisingly low, IMO. In fact, that's about the 5 year 15 mill that a ~30 year old backup PG, Kevin Ollie got. We'll see...
     
    #1 NIKEstrad, Jul 22, 2003
    Last edited: Jul 22, 2003
  2. JPM0016

    JPM0016 Contributing Member

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    if it's for the 4 year 22 million that was talked about earlier then the rockets will match it. They would have to pay about 8 million this year for Posey because of the luxury tax but next year with the expiring contract of Glen Rice, Posey's contract would drop back down to the 5. something million.
     
  3. codell

    codell Contributing Member

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    Some interesting tidbits from the Houston Chronicle:


    Posey likes Memphis bid
    Rockets weigh 4-year offer


    By MEGAN MANFULL <------------------ :eek:

    Copyright 2003 Houston Chronicle

    After weeks of testing the free-agent market, Rockets forward James Posey has accepted a four-year deal with the Memphis Grizzlies.

    "We have reached an understanding with the Grizzlies, and that's about as far as I want to go on that right now," said Posey's agent Mark Bartelstein, who would not disclose the financial terms.

    By early Tuesday evening, Posey had not signed the agreement. But Bartelstein said he expected it to be signed and given to the Rockets today. Because Posey is a restricted free agent, the Rockets will have 15 days to decide whether to match the Grizzlies' offer.

    Rockets general manager Carroll Dawson said he was informed of the deal early Tuesday morning but was awaiting the signed agreement before deciding what to do.

    Last month, the Rockets made a qualifying offer to Posey of $2.445 million per season. The Grizzlies' offer could have been as high as $4.9 million since they are over the salary cap and can offer the mid-level exception.

    The Rockets' payroll is already at $55 million, and they have been hesitant to make offers that would force them to incur much more of a luxury tax. This season, the luxury tax penalizes a team a dollar for every dollar spent beyond $52.9 million.

    Tuesday, Dawson was unsure whether the Rockets would match an offer as high as $4.9 million. Posey joined the Rockets last season, and averaged 9.3 points and 4.8 rebounds in 58 games.

    "We have 15 days to make that decision, I can't make it up in my mind right now," Dawson said. "That's why we have the 15 days. ... He was the only guy we made an offer to, and so we'll see where we are and decide what we're going to do."

    Memphis could be trying to work out a sign-and-trade deal, considering they have a slew of guards and small forwards. But if the Rockets agreed to such a deal, they would be faced with the same luxury-tax issues that resigning Posey would bring.

    Dawson said the Rockets will look at a number of options while deciding what to do about Posey's offer.

    The Rockets have shown interest in Clippers shooting guard Eric Piatkowski. Dawson said there are a number of other players of interest, however.

    "There's a lot of backup options, so we'll look at those and try to decide what's best for the team," Dawson said.
     
    #3 codell, Jul 22, 2003
    Last edited: Jul 22, 2003
  4. crash5179

    crash5179 Contributing Member

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    Actually I would prefer to look at it as paying 4.9 million to Posey and 3 millions for all of the other bad contract decisions that did not work our such as Moochie, Cato and Mallony .
     
  5. DaDakota

    DaDakota If you want to know, just ask!

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    The key is the SIGN and TRADE portion of the deal.

    Would the Rocks rather have Battier, or Swift, than Posey...I sure would.

    DD
     
  6. HotRocket

    HotRocket Contributing Member

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    If they match it, it wouldn't be the worst mistake in Rockets history (see Mooch and MoTay.)

    He is a player who wears his heart on his sleeve, it will be a shame if we lose that type of player over a contract.
     
  7. codell

    codell Contributing Member

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    BTW, who the frick is Megan Manfull?

    Sounds like the name of a porno star.
     
  8. bigboymumu

    bigboymumu Member

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    Good point!
     
  9. spence99

    spence99 Member

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    At least it isn't a 6 year deal. I'm tired of us signing everyone for 6 or 7 years. What happens if you don't win with those players. We didn't make the playoffs last year, and we can't change the team much because everyone seems to be signed for the next 5 years.
     
  10. NIKEstrad

    NIKEstrad Contributing Member
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    Thanks codell. It'll be interesting to see what they have in mind as "backup options". I'm expecting that the offer sheet is full MCE, but considering we were only offering up 2.5 mill, who knows?

    Unfortunately, one part of the article is just plain wrong. Even if we accept the 55 million number (and most places say closer to 51.5-52), the writer is way off as far as the luxury tax. The luxury tax number was 52.9 million for last year's payroll. It has zero impact on this year's payroll. In fact, the player's association is projecting next year's lux tax to be around 57 mill (but that won't be official for awhile). We are not already in luxury tax land- no one even knows if the luxury tax will even be enacted. I wish "sportswriters" would do their homework. :(
     
  11. crash5179

    crash5179 Contributing Member

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    Here are the numbers from RealGM:

    This years cap is $43,840,000.00 and we are currently over by $12,133,570 which makes us at $55,973,570.00 total. We are already committed to $47,674,760.00 for next year after Rice comes off of the Books.
     
  12. mfclark

    mfclark Member

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    The Grizz won't trade Battier or Swift just to get James Posey. They want him outright, thus the offer sheet. They have no need to give up talent to get Posey, especially considering the Rockets' financial situation...it makes the Rockets both less likely to match a big offer and less able to take on salary in any sort of trade deal, as they'd still have to take back equal salary (I don't believe Memphis holds a trade exception), which again would put them into the luxury tax. And, once the offer sheet is signed, any and all trade talk is moot anyway.
     
  13. rock418

    rock418 Rookie

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    if we could get battier for posey that would be a good deal he shot 48% field goal and 38 from 3 piont land averaged 4.9 rebounds and almost 10 pionts per and is a strong defender.
     
  14. B-ball freak

    B-ball freak Contributing Member

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    What people aren't mentioning is that Memphis is also in Luxury Tax Land.
     
  15. Yetti

    Yetti Contributing Member

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    codell thats the first time a post on the BBS has caused me to laugh, it just touched my imagination!
     
  16. SmeggySmeg

    SmeggySmeg Contributing Member

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    could this be why posey hasn't signed the offer yet, if i understand correctly once he signs the offer sheet a sign n trade is not possible
     
  17. The Hungarian Rocket

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    Sign him! He worth that money! Great defender, avarage shooter, team player. That's why we need him.
     
  18. heypartner

    heypartner Contributing Member

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    The league had a one time major shortfall in revenue due to the TV contract switching last year. They received something like $250m less, but just for the first year. The contract goes back into to previous numbers and beyond, now, and the Asian contracts kick in, too. I almost think the league purposesly cut a deal for a shortfall on the first season just to kick in the luxury tax, for once.

    but as NIKEstrad said, that was for last year's payroll. All indications are there will be no luxury tax for salaries of this season...which means we won't pay a tax on Posey's contract.

    Another thing to note is that since we were below the tax last year, then Les is set to get an owner share of all the tax money that kicked in.

    These writers are just confused.
     
  19. Thanos

    Thanos Member

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    I'm amazed that Posey actually stated that he obviously wanted to be here after being lowballed this way.

    Though 2.5 million may be a lot of money for all of us, it's all about "respect" for NBA players nowadays, and that offer is far below market value. No sense in making Posey pay for past mistakes like Moochie and Maloney.

    Let's hope that Les is not that cheap. If he doesn't match the offer from the Grizzlies his Big Splash is about to become a backlash.
     
  20. Sane

    Sane Member

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    One thing is clear. Posey is easily worth the 4.9M MCE. We need more sensible contracts like these. Too bad Mobley doesn't fit within our system, or his contract would be great too.

    Battier brings nothing to this team. To be honest with you, his knowledge of the game doesn't exceeds Rice, and his defense is not better than Posey's. Posey ignites the fast break and is a source of energy for our team.

    If there's no luxury tax as heypee or NIKEstrad pointed out, then we should undoubtedly match this offer. He's our backup 2 and our starting 3. Boki is showing any promise, and Rice isn't getting younger and it's VERY doubtful he'll show up in the same shape he did last year.

    Match it. We don't need to give up talent to keep Posey. Match it and then trade Mo Taylor for Anthony Masonand and expiring contract.
     

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