According to http://hoopshype.com/salaries/houston.htm Kyle Lowry has a qualifying offer (as well as Hilton Armstrong). How do they work? If the Rockets can retain Lowry for less than $3 million that would be great. Is it like a team option, or does Morey have to negotiate a new contract with him? Also, do we have to keep Armstrong's salary on the books? He sucks.
By making a qualifyinf offer, the player goes into restricted free agency allowing you to match any offer, by not tendering a qualifying offer, the player goes into unrestricted free agency.
Do you think teams will be hesitant on offering a contract for Lowry with his ankle injury or will that not be an issue by the time summer comes around?
if there was an issue, Lowry's agent will not let him play, so the fact that he is playing means that it wonh't be an issue
Thanks! So that $3 million for one season could be his salary next year if no one offers him anything? Or do we make him an offer? You explained it very well, but I don't understand where this $3 million comes in to play.
Yes, then he would become an unrestricted free agent at the end of 2011, and also during the 2010/2011 season, Rockets would not be able to trade him without his consent.
trugoy has it right, the sequence of events is like this: -Rockets tender Lowry a qualifying offer (a one year contract worth $2,975,164 in Lowry's case, as you mentioned) -Lowry can choose whether to accept or decline this offer. If he accepts it: -He plays for the Rockets for the 2010-11 season at a salary of $2,975,164. -The Rockets cannot trade him without his consent. -After the season is over, he enters unrestricted free agency, where he can sign anywhere he wants. If he declines it: -Teams can give him an offer sheet for whatever contract they want (within NBA min/max salary restrictions) -However, if he signs an offer sheet, the Rockets then are given the opportunity to match it and retain his services for that price. -Declining restricted free agency typically results in a multi-year deal for the player.
This is a weird one, normally, you would think that Kyle would sign the one year tender to become an unrestricted free agent. But with the new CBA looming, Morey might be able to lock him up cheaply for a few years. It depends upon whether Kyle wants to start, and how firmly he believes he should, IMO. DD
isn't the 3 mil a cap hold on next year for now? (in addition to the RFA instead of UFA thing) So then he can sign the 1 year deal if he chooses, and the alternative is to either sign a multi-year deal with the rockets or sign one with another team (giving the rockets an option to match)? that's my understanding off the top of my head..
I like using ShamSports for NBA salary info, more accurate. http://www.shamsports.com/content/pages/data/salaries/rockets.jsp
Guys hoping we can sign him for cheap are dreaming. Kyle Lowry is the BEST PG FA in the 2010 FA class, if a team is looking for a PG then they have to pursue Lowry.
Not exactly. There is not really a "decline the offer sheet" option. Basically, once the Rockets make the tender offer, Lowry can choose to accept the offer sheet and play next year at 2.975m. He can also go out and solicit offers or sign and trades. If he doesn't find anything he likes, he can then go back and take the QO. The Rockets also have the right to rescind the qualifying offer at any time, but lose their free agent rights by doing so.
I hope you don't consider Wade a PG. But there's also TJ Ford, Raymond Felton, Luke Ridnour, Nate Robinson, Randy Foye, JJ Barea, CJ Watson, Acie Law, etc. I'm not saying that all these PG's are better than Lowry at all but there are enough PG's avaliable.
Obviously that's not true, because he's a rational person. That stuff is just verbal trickery to get other teams to think twice before making Lowry an offer. If a team is crazy enough to offer Lowey more than the MLE, Morey will not match. Its possible the Rockets would match up to 5 million, but I think the preference is to get him at the 3-4 million range.
Morey is probably going to retain Lowry for a max of 4m/year for 4/5 years with last year team option.