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NY Knicks get $9.5M tax relief for Mobley

Discussion in 'NBA Dish' started by abc2007, Apr 5, 2010.

  1. abc2007

    abc2007 Member

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  2. BimaThug

    BimaThug Resident Capologist
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    Well, I'm not surprised. Just that it took this long.

    Les Alexander will now make $316,666.67 less than he was scheduled to make as of yesterday.
     
  3. MrAwe

    MrAwe Member

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    what does this mean for the Knicks? I don't see how this will help them this summer.
     
  4. BimaThug

    BimaThug Resident Capologist
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    It saves the Knicks $9.5M in luxury tax. Whether or not it helps them basketball-wise is irrelevant. Money is still money.
     
  5. BetterThanEver

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    It means exactly that. They save $9.5 million.
     
  6. larsv8

    larsv8 Member

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    That would qualify as a bad day for me :)
     
  7. T-Slack

    T-Slack Member

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    Hey man, so the Rockets signing Harris for the remaining of the season didn't put them in the luxury tax threshold?
     
  8. BimaThug

    BimaThug Resident Capologist
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    Nope. The Rockets got comfortably below the tax threshold. Plus, Harris is only getting a prorated minimum deal, which leaves them room to spare.

    I seriously doubt that Les would have signed off on adding a D-League guy if it would have ended up costing him $4-5M. The $90-95k that Harris is making is much more palatable for Les.
     
  9. BetterThanEver

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    Luxury tax level is set at $69.92 mil.
    Rockets are at $69.27. A cheap contract for Harris for the remaining of the season isn't enough to push the Rockets into luxury tax zone. It's only 3 weeks out of a whole 82 games, after all. Mike Harris counts as $73k for team salary. That's a drop in the bucket compared to even Budinger's rookie salary of $750k.

    http://hoopshype.com/salaries/houston.htm
     
  10. TheFreak

    TheFreak Member

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    Does this increase the chances of McGrady considering signing there next year?
     
  11. T-Slack

    T-Slack Member

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    Thanks guys, I wasn't sure.
     
  12. saleem

    saleem Member

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    They took advantage of the loopholes in the system. Mobley was never going to play. They used his salary in a trade,and now they are getting relief as well.
    This should be stopped.
     

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