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Post by greatgates on Aug 29, 2009 18:07:56 GMT -5
Scenario: Knicks trade Jeffries for expiring contract (say mike james)
If after the season the Knicks gave Eddy Curry a 7 mil buyout (Curry being able to sign somewhere else for the midlevel) would the Knick 2010- 2011 cap hit be the 7 mil they paid OR his current 11 1/4 mil hit. I'd assume it would be the buyout figure. AM I correct?
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Post by kgooglog on Aug 30, 2009 15:39:29 GMT -5
Scenario: Knicks trade Jeffries for expiring contract (say mike james)
If after the season the Knicks gave Eddy Curry a 7 mil buyout (Curry being able to sign somewhere else for the midlevel) would the Knick 2010- 2011 cap hit be the 7 mil they paid OR his current 11 1/4 mil hit. I'd assume it would be the buyout figure. AM I correct? GG... According to the CBA, the Knicks would only be responsible for paying Eddy the 7 Million dollars over the duration of the contract's length, and the best news is that 33% of that $7,000,000 would count against the Knicks salary cap in 2010. Simply put, the buy-out sum replaces the original contract number and only 1/3 of that number COUNTS against NY's salary cap. Essentially, if NY does this with Curry, two elite free agents can be signed, despite the fact that NY have two pay Curry for, once again, doing nothing. If Curry were to be bought out THIS season, it would be better for NY, as the $7 million dollar figure would be divided into 2 payments of $3.5 million with that same 33% of $3.5 million counting against the cap for the duration of Eddy's deal. In my second scenario, we are talking less than $1,000,000 of Curry's salary cutting into the Knicks cap space. If Curry shows nothing by February, Donnie Walsh does have the option of excising him--even at his full salary--and the Knicks would have enough money to get LeBron his Pippen, or to get Bosh, or Stoudamire... |
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Post by kgooglog on Aug 30, 2009 15:42:16 GMT -5
It would be Nirvana if NY can also get rid of Jeffries for an expiring contract this season. If Jeffries 2010-11 salary is off the books and NY is only responsible for a third of whatever Curry's buyout figure would be, the Knicks have enough $$$ for LeBron plus...
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Post by ReneNYG1 on Aug 30, 2009 15:46:05 GMT -5
Kenny he would have to agree on the buyout which is probable hard now but more feasable next year.I think we are in good shape either way ,the cd was awesome thanks alot Kenny,I hope we can get the Lee and N8 situation settle soon for our fan base is getting restless,I would love to trade Lee and N8 for Rudy and Bayless or Rudy and a number one.
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Post by greatgates on Aug 31, 2009 14:45:05 GMT -5
Scenario: Knicks trade Jeffries for expiring contract (say mike james)
If after the season the Knicks gave Eddy Curry a 7 mil buyout (Curry being able to sign somewhere else for the mid level) would the Knick 2010- 2011 cap hit be the 7 mil they paid OR his current 11 1/4 mil hit. I'd assume it would be the buyout figure. AM I correct? GG... According to the CBA, the Knicks would only be responsible for paying Eddy the 7 Million dollars over the duration of the contract's length, and the best news is that 33% of that $7,000,000 would count against the Knicks salary cap in 2010. Simply put, the buy-out sum replaces the original contract number and only 1/3 of that number COUNTS against NY's salary cap. Essentially, if NY does this with Curry, two elite free agents can be signed, despite the fact that NY have two pay Curry for, once again, doing nothing. If Curry were to be bought out THIS season, it would be better for NY, as the $7 million dollar figure would be divided into 2 payments of $3.5 million with that same 33% of $3.5 million counting against the cap for the duration of Eddy's deal. In my second scenario, we are talking less than $1,000,000 of Curry's salary cutting into the Knicks cap space. If Curry shows nothing by February, Donnie Walsh does have the option of excising him--even at his full salary--and the Knicks would have enough money to get LeBron his Pippen, or to get Bosh, or Stoudamire... |
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Post by greatgates on Aug 31, 2009 14:56:29 GMT -5
Kenny he would have to agree on the buyout which is probable hard now but more feasable next year.I think we are in good shape either way ,the cd was awesome thanks alot Kenny,I hope we can get the Lee and N8 situation settle soon for our fan base is getting restless,I would love to trade Lee and N8 for Rudy and Bayless or Rudy and a number one. |
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Post by kgooglog on Aug 31, 2009 17:23:35 GMT -5
Rene...
Glad you liked the CD...I enjoyed making it ; )
GG...
I looked into the buyout situation when Curry was "refusing" to get back on the MSG court after that late season road trip in which he appeared as big as 2 Kate Smiths and 3 Oliver Millers. One of the MB attorneys on the old AOL board was discussing Eddy's breach of contract and then I got to looking into buyouts and how they count against a team's salary cap.
The Knicks would be in good shape in either scenario, meaning the 33% or 34% of whatever buyout figure was accepted, be it for the last year or for his total two year deal.
Donnie Walsh does have an out and so does Curry, for that matter, although Eddy would probably want his full salary for the last year, which still substantially helps NY in the master plan.
Thanks for the exalt. I needed it!
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Post by ReneNYG1 on Aug 31, 2009 23:05:06 GMT -5
I would like to get something for him we gave alot to get this guy.Hopefully we can showcase him and he would look better than the burger picture.LOL I can't believe that a man can give up on an oportunity to play pro ball,it's a real shame because he does have talent.If I had his physical skills I would be Shaq the second.
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