Found this at the Hoopsworld Web Page Hoopsworld has learned that the Hawks are likely to re-sign Matt Maloney in July. Remember him? You should. The Rockets are paying him $2.5 million a year not to play. He was with the Hawks during preseason last year but didn't make the team. The Hawks will likely sign him for league minimum, meaning the Rockets only have to pay Maloney $2.2 million. Yippee. Like he said, Yippee
If we're paying the guy 2.5 million dollars, we might as well invite him to camp and give him the chance to win a job away from one of the other guards. I mean he was a capeable pg his first year or two and it seems to me he would've made a pretty good backup if he had not been injured. His injury is what brought him down in the first place.
With Maloney back we would have 3 who could handle the ball and put up 20-10-10 a night plus we would have our enforcer. C'mon Rockets don't let the Hawks steal em'-
I don't think buyouts affect the salary cap hit of contracts. He may well be completely paid off, but I think the salary cap will be affected until the expiration date of his original contract. Aelliott?
JV - The amount of a buyout is amortized over the remaining life of the contract and hits the cap for that amount. For example, if the Rockets offered Glen Rice a lump sum of $4m, there would be a $2m cap hit this season and next (since Rice has 2 remaining years on his contract). I do not know the circumstances surrounding Maloney. I thought he was waived and no team picked him up before a certain amount of time and thus the Rockets were on the hook for the balance of the contract. I may be wrong about that, but that is what I recall.
The amount of a buyout is amortized over the remaining life of the contract and hits the cap for that amount. For example, if the Rockets offered Glen Rice a lump sum of $4m, there would be a $2m cap hit this season and next (since Rice has 2 remaining years on his contract). ...in that case lets buyout Moochies contract and bring back matt maloney. Remember how he schooled Gary Payton in the second round in 97.' I don't see Moochie schooling anything in the near future except that afro.
I have my doubts that the Rockets get a credit for the amount paid by Atlanta, when they cut their checks to Maloney. My bet is that he can double dip, like Rod Strickland and Mitch Richmond did.
JBC - That is my understanding as well. This is from Coon's FAQ's: "If no team claims a waived player, he is said to have "cleared waivers." The player may sign with the team of his choice at that point. The player's new team only pays the pro-rated minimum salary to the player. The player's original team continues to pay the balance of the player's salary. For this reason, few players are actually claimed while on waivers.
His contract was restructured. He is still being paid but at around $500,000 for the forseeable future.
