[NYKBaller]

Article

 

[Rashidi]

But the Knicks, as currently constructed, don't have the necessary resources to snatch Rashweed and/or Ruben Patterson. And, if Isiah Thomas doesn't have them by the time the Feb. 19 trade deadline expires, it's safe to assume he won't have them for a sign-and-trade come summer.

 

[son of oakley]

I think the point was Portland is thinking to let him just walk at the end of the season and he'd become a Knick thru free agency. That doesn't require resources other than money, which doesn't seem to be in short supply around here.

 

[82]

I'm more suprised at his all start selections. Boozer but no K-Mart or Lebron?

 

[Rashidi]

The Knicks may not be short on cash, but they are short on cap space. Unless you think Rasheed will sign for the veteran's minimum.

 

[son of oakley]

Rashidi, you probably understand this contractual stuff better than I. The article says Wallace might be willing to take a mid-level exemption to be with NY, which would cost around 5mil the first year.

So what is the implication of that? Would we simply need to drop that much salary first to be allowed to do that, say by buying out Shandon's contract?

 

[Rashidi]

The Knicks can sign Wallace with the MIE, assuming they HAVE an MIE. They used it on Lampe last year, and you only get 1 every 2 years. I don't know the specifications of "1 every 2 years" though.

It could mean that after you use your MIE, you can't use it for 2 years.

Or it could mean that every 2 years, teams get a new MIE, regardless of whether or not they used it in the last two years. If that is so, then it is possible that the Knicks might be due for another full MIE.

However, if they do not get a new MIE, then they cannot sign Wallace with the full MIE (meaning he'd have to take about half of that or less) because half was given to Lampe this year.

 

[son of oakley]

Let's assume for the moment they have one, as that's what the gist of the article seems to imply. In using it do they have to dump any salary first or it's just a freebie to go that much higher over the cap?

 

[hatnlvr]

But does it count if the player is no longer with the team?? The didn't use the full MLE on Lampe, they used a portion of it and Lampe is no longer a NY Knick.

 

[Rashidi]

They don't have to dump salary. And even if they "dumped" Shandon(me) by waiving him, it wouldn't dump his salary.

 

[son of oakley]

And even if they "dumped" Shandon(me) by waiving him, it wouldn't dump his salary.

I'm not so sure of that. When you buy a player out it doesn't mean you pay his (your) full salary. The buyout amount is negotiated. The bulls just bought out J Williams for 3 mil while owing him seven.

 

[Rashidi]

Theres a difference between a buyout and waiving. If Jay-Will is waived, another team can claim him. The Bulls don't want another team to claim him, and neither does Jay-Will.

Shandon(me) obviously has no interest in negotiating a buyout. If the team wants to dump him that badly, he'll be glad to take his free money. He has no incentive to negotiate a buyout. A buyout is mutual. Waivers are not.

 

[son of oakley]

Originally posted by <b>Rashidi</b>!

Shandon(me) obviously has no interest in negotiating a buyout.

SHANDON CAN BE SOLD ON IDEA OF KNICK BUYOUT:[SPORTS FINAL Edition]

FRANK ISOLA DAILY NEWS SPORTS WRITER._New York Daily News._New York, N.Y.:_Jan 30, 2004.__pg._90

 

[Rashidi]

"Who wouldn't want free money?" Anderson said, laughing. "If it happens it happens. If they come to me, me and my agent will entertain that."

Entertain.

He says "who wouldn't want free money".

Well, if he is boughtout for a lesser sum than what is listed on his contract, that's not exactly free money, is it?

Shandon will only be open to it if the money is close to what he is owed, because that way he can make up the rest of it in his next contract (since he is still good enough to make a lot of rotations).

The team definitely isn't close to doing it yet, and probably won't consider it until next year. Negotiating a buyout with a player that has the years and money he is owed isn't simple.

 

[Petey]

Originally posted by <b>Rashidi</b>!
The Knicks can sign Wallace with the MIE, assuming they HAVE an MIE. They used it on Lampe last year, and you only get 1 every 2 years. I don't know the specifications of "1 every 2 years" though.

It could mean that after you use your MIE, you can't use it for 2 years.

Or it could mean that every 2 years, teams get a new MIE, regardless of whether or not they used it in the last two years. If that is so, then it is possible that the Knicks might be due for another full MIE.

However, if they do not get a new MIE, then they cannot sign Wallace with the full MIE (meaning he'd have to take about half of that or less) because half was given to Lampe this year.

MLE you mean? You get one yearly if you are over the cap. Or under the cap by the MLE (amount itself). IE, ZO was signed from the Nets MLE this past year, the year before it was Rodney Rogers and Chris Childs.

-Petey

 

[Tetsujin]

Originally posted by <b>Rashidi</b>!


Entertain.


Well, if he is boughtout for a lesser sum than what is listed on his contract, that's not exactly free money, is it?

Sure... It is somewhat like getting "Free Money" as you're receiving money upfront without fulfilling the balance of your contractual obligation to the team.

Furthermore, if you consider time value of money, i.e. one dollar today is worth more than one dollar tomorrow as a result of inflation and other economical factors, receiving a lump sum payment today is a lot better than waiting for your money over time.

 

[Rashidi]

It is somewhat like getting "Free Money" as you're receiving money upfront without fulfilling the balance of your contractual obligation to the team.

Who says the buyout would be given to him upfront? Teams pretty much always defer large payments. Obviously if they gave Shandon 20 million dollars with a snap of their fingers, , it would have quite an economic impact on Madison Square Garden.

 

[son of oakley]

So getting back on topic, if I may, it seems the point of the article is that if Portland lets Rasheed walk at the end of the season it would be possible for the Knicks to sign him with the MLE, without having to give up anybody for him.

If it sounds too good to be true it probably is....

 

[Rashidi]

Oh goody! Another contract!

The only way Rasheed takes the MIE is if he gets a 6 year deal like Juwan Howard did.

Wallace for six years...

He's more interesting as a rental than he is as a long term investment.

 

[Tetsujin]

Originally posted by <b>Rashidi</b>!


Who says the buyout would be given to him upfront? Teams pretty much always defer large payments. Obviously if they gave Shandon 20 million dollars with a snap of their fingers, , it would have quite an economic impact on Madison Square Garden.

Then its "free money" because Anderson would be receiving money from the Knicks over time for doing nothing and in turn free to sign another contract with another team.

However you want to look at it, it is "Free Money".