I recently read an article on the "one time" clause to cut a player so I want to share it so we can have a better understanding of the rule and not speculate. For more details you can read Marc Stein's Q&A http://sports.espn.go.com/nba/columns/story?columnist=stein_marc&id=2112912 Here are the main points: 1) This is a one-time exception that expires on Oct 1, 2005. Teams are trying to move up the date so free agents can have more time to sign with a new team. 2)This exception can't be saved for later in the season 3)Teams can't waive more than one player. However, they are not required to waive a player. 4)This exception provides LUXURY CAP RELIEF not Salary Tax Relief 5)Players signed after June 21 2005, can't be waived 6)Teams HAVE to pay the remaining salary of players, but there is no luxury tax penalty on that player. 7)Teams CAN NOT reclaim players they just waived 8)Teams can sign more than one waived player (e.g. Finley and Houston) 9)Players can "double dip" and potentially sign a max contract. They will be paid from 2 contracts e.g. Finley can sign a 5 year/30mill contract and get fully paid from two teams. Cuban would have to pay his full salary no matter how big his next contract is 10)Any team can waive a player (luxury tax paying teams & non-luxury teams) Here's my short take on how this could affect the Rockets: -Since Les has to pay the remainder of the contract of a cut player and we are not in luxury tax territory (to my knowledge), it would have to be a player that's not contributing (Moochie or Vin) -We could potentially sign two waived players (Finley and Ratliff) -Since we don't have any salary cap room, this could be a great way to pick up a really good player without breaking the bank
Right now the date is October 1st, but owners are trying to move up the date. Perhaps that's the holdup with the new CBA
Not quite. October 1st is the last day teams can use this exception. The amnesty clause will be available as soon as the moratorium is lifted. Teams want the October 1 date moved forward because it allows other teams to hold onto players that are potential amnesty casualties late into the offseason/beginning of training camp. This forces them to potentially pass up current free agents for players who may or may not become available.
I really hope the Oct 1st deadline is moved up. None of these teams have any incentive to release the players until that time. And by then a lot of the FA money will be dried up.
Which is not a bad thing for the Rockets, considering all we have left to pay is either the LLE or the veteran minimum.
i help this rule will get players to come to the rockets for small salaries and a chance to win since they are already getting paid from their former teams
Are potential teams limited to what they have to offer these Luxary Tax Salary casulties? Like us - since we are over the cap and have spent the MLE. Can we offer MLE money to one of these FA's, even though Swift already picked it up?
Once they have been cut they are regular free agents, and a team can only use its exsisting cap space to sign them. I see more than a few taking 1 year minimum deals to try for a ring, then go for a bigger payday down the road. In the end its all about money and Finley knows he can take his 51 million and get maybe another 30 million ontop of that. Hopefully all the free agent mone will be dried up by the time they are released so that financially all things will be close to equal so that they can choose where they want to play.
im waiting to find out who the really greedy players that will look for a huge contract after being cut are. ie finley, houston.
