Tuesday, October 8 Houston TV station reports Yao gets $18 million deal -------------------------------------------------------------------------------- Associated Press HOUSTON -- The Houston Rockets have orally agreed on a three-year contract with Yao Ming that includes an option worth an estimated $18 million, Houston television station KRIV reported Tuesday. The 7-foot-5 center from China was picked first overall by the Houston Rockets in the NBA Draft. Yao still needs approval from the Chinese Basketball Association before signing with the Rockets. The CBA has said it would address the matter after Yao finishes playing for China in the Asian Games, which ends Monday. Rockets officials have said they don't expect a problem. The Rockets, who beat the Memphis Grizzlies 106-98 in an exhibition game Tuesday night, could not immediately be reached for comment. Rockets general manager Carroll Dawson told KRIV he had no comment, saying, ``There's nothing new to report at this time.''
Why is Fox making a big deal outta the numbers? Isn't that the same money that has always been offered, the #1 rookie max? Hasn't that been reported all along? The ESPN article should read: "CLUTCHCITY.NET reported..." My favorite quote: Rockets general manager Carroll Dawson told KRIV he had no comment, saying, ``There's nothing new to report at this time.'' In other words: the deal is done. os
Chron: Yao Ming Agrees to deal According to the Chron its a done deal just waiting for the return FedEx. Here's the article: Yao agrees to deal MEMPHIS, Tenn. -- The Rockets have reached an agreement with Yao Ming, the first player taken in the NBA draft, on a rookie contract and are waiting to receive a signed contract back from Yao, a source close to the negotiations said Tuesday. Yao and the team had agreed last month to a contract worth $3,858,240 next season and $17.8 million over four years, including a fourth season at the team's option. Rockets owner Leslie Alexander said Sept. 25 that the team and Yao, 22, had agreed on the terms of the contract and on the payment schedule but that there were many other issues to be negotiated. Yao's agent, Erick Zhang, said Monday he and Rockets attorney Michael Goldberg "made major progress" on issues that had stood in the way of an agreement on the 7-5 center's rookie contract. The team still must receive official clearance from the China Basketball Association to sign Yao, an agreement once considered a much greater hurdle than reaching terms on a rookie contract, which is tightly controlled by the NBA's collective bargaining agreement. No first-round draft pick has ever remained unsigned in a financial holdout at the start of the season in the four years of the current labor deal. But Goldberg said Monday there are no hurdles preventing an agreement with the China Basketball Association -- which includes Yao's former team, the Shanghai Sharks -- and that he had no concerns. He said he had asked Zhang to help communicate the need to receive the clearance quickly. Zhang said China Basketball commissioner Xin Langchen could opt to hold off providing clearance until after the last game of the Asian Games on Oct. 14. There has been some difficulty communicating with Yao and in getting a contract to him while he is with the Chinese National Team in Busan, Korea. But Zhang said he saw no reasons for concern. The Rockets said there would be no announcements until they receive the signed contracts. "There's nothing new to report," Rockets general manager Carroll Dawson said. "I don't have any comment on that now," Goldberg said. Yao averaged 32.4 points and 19 rebounds per game last season in the CBA. He averaged 21 points and 9.3 rebounds in eight games in the World Championships last month in Indianapolis.
Aren't most rookies getting a four year deal with the 5th year restricted?? This is reported as a 3 year deal with 4th year restricted, right? So this deal isn't as good as a standard rookie deal, or is it?
Ming has signed according to ESPN Yao Ming has signed a 3 year 18 million dollar contract according to Espn. It was on sportscenter tonight.
YYYYYYYYYEEEEEEEEESSSSSSSSSSS!!!!! ...as gene peterson would say thats awesome!!! did it say ne thing else? forgot to watch
i think most rookie contracts are 3 years, 4th year team option, 5th year restricted. any of you cba freaks out there got anything different.
well, i didn't type "yes". i said "YYYYEEEEESSSSSS!!!!" big difference. ones during a crappy NBC game, another is during a moochie, francis, (lets go retro) eddie johnson shot at the buzzer. i mean i couldve added "Oh, Mother!!!" by, who else but, jim foley, but some people wouldnt understand. thanks though by the way, hows ny goin?
Clutch, any clue what Ming and the Rockets were negotiating over since it wasn't about money? There's no real mention of the details in the Chronicle article.
The longest journey begins with a single step. Are we there yet? Are we there yet? Destiny begins with a step in the right direction. Sit back and enjoy the trip! How sweet it is!
This is correct. The 4th year is a team option and year 5 the player is a Full Bird Restricted FA - the team having the contract can match any offer and can go over the cap to do so. Depending on the player, the new Luxury Tax will impact that substantially.
Heypartner you were scooped regarding the 'CBA Clearance'. You have not been reading all the posts!In any case dont you think that the Friday signing is only acheivable after the CBA informs FIBA.
