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Mantis

Years ago

ESPN Report - Knicks to Waive Marbury

If the Knicks waive him then they still have to pay him.

Yes, but if they waive him he can sign with another team, and if he does, the Knicks get to reduce the amount they pay him by a portion of his new contract (the actual amount is half the amount of the new contract exceeds the Veteran's Minimum amount by). This reduction also brings down his contract amount for salary cap purposes, which works out to even more money saved if you are in luxury tax penalty territory, like the Knicks are. If my back-of-the-envelope calculations are correct, for ever dollar over the Vet's Minimum he signs for (~$1.2M for a player with 10+ years experience), the Knicks save $1.50.

Note that the new contract only has to be with another pro team, so he can go to Europe and the Knicks' will still get the salary and cap reduction.

Reply #205272 Report this topic

Years ago

ESPN have run a retraction...

Link: http://linky.com.au/qknab

Reply #205258 Report this topic

Anonymous

Years ago

Classic addition through subtraction.

Reply #205231 Report this topic

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ESPN Report - Knicks to Waive Marbury

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