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williams buyout: Club saves money, gains roster spot

http://chicagosports.chicagotribune...sbits,1,3041412.story?coll=cs-bulls-headlines

DENVER—The buyout of Jay Williams' contract will become official once he signs paperwork in his possession, possibly Friday.

Of far more importance than the roughly $5 million the Bulls will save on his three-year rookie deal is the roster spot it will create. This will give general manager John Paxson flexibility as the Feb. 19 trade deadline approaches.

For instance, he can take two bodies in return for the always-available Marcus Fizer or Eddie Robinson, as long as the salaries match up.

Bill Duffy, Williams' agent, said his client would travel to Chicago soon to discuss possible community service work with the Bulls.

"Jay doesn't want to be disruptive," Duffy said. "He wants to be an asset if he can, in whatever capacity."

The buyout agreement allows the Bulls to re-sign Williams if he can he return from his career-threatening injuries suffered in last June's motorcycle accident, although both scenarios are long shots.

"This gives Jay an opportunity to earn compensation which, as I've stated before, the Bulls weren't obligated to provide," Duffy said. "That's very honorable.

"But his primary focus is just to get healthy and play with the [Bulls]. And there's really no timetable for that. The nerve regeneration is going to take a long time and we're asking him to be patient." …
 

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I am assuming the buyout was in the neighborhood of 3M, correct? In terms of cap hit, this would be spread out over the remainder of his contract, mainly this season and next?

Jay makes 3.7M this season and 4.0M next year (totalling 7.7M). Not sure where the 'roughly 5M' figure comes from, considering indications that Williams was being paid regularly this season already. So let's say he's already received half of his yearly salary (1.8M) for this season. Would the buyout include this figure or be in addition to money already paid out this year?

I'm confused. If Jay is given a 3.0M buyout in addition to any money made for half of this season, the cap savings amount to about 2.5M not 5.
 

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I think one of the newspapers reported that the settlement is for $3 million. Prior to this settlement, Williams was owed about $7.7 million. 48 percent of that counted for 2003-04 and 52 percent counted in 2004-05. My assumption is that the same percentages will apply to the $3 million settlement. (This is how Shawn Kemp's buyout worked.) Thus, the salary cap/luxury tax hit for Williams will be $1.45 million in 2003-04 and $1.55 million in 2004-05. (And this is even if he ends up receiving all or most of the money this year.)
 

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Originally posted by <b>NCBullsFan</b>!
I think one of the newspapers reported that the settlement is for $3 million. Prior to this settlement, Williams was owed about $7.7 million. 48 percent of that counted for 2003-04 and 52 percent counted in 2004-05. My assumption is that the same percentages will apply to the $3 million settlement. (This is how Shawn Kemp's buyout worked.) Thus, the salary cap/luxury tax hit for Williams will be $1.45 million in 2003-04 and $1.55 million in 2004-05. (And this is even if he ends up receiving all or most of the money this year.)
When you say the hit, do you mean:

1. That's how much Jay will count against the cap,

or

2. That's how much his salary will be lessened by

I think you mean #1, just making sure.
 

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Originally posted by <b>Darius Miles Davis</b>!
When you say the hit, do you mean:

1. That's how much Jay will count against the cap,

or

2. That's how much his salary will be lessened by

I think you mean #1, just making sure.
1. How much Jay Williams will count for salary cap/luxury tax calculations.
 

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


1. How much Jay Williams will count for salary cap/luxury tax calculations.
Thanks NC. Looks like a pretty good deal for us. I still want Jay back if the time comes. I hope he can come back to us, but for the moment I'm so happy he can run on an elyptical machine. Looks like he's going to be able to walk and live a normal life if not play basketball, and it could have been much worse than that.
 

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Thanks as always, NCB.

Duffy made a quote today to the effect of 'nerve regeneration takes time'. Hmm.... though Jay has made progress I'd imagine he's still a long ways off from competing in the NBA.
 

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i do think to a degree jay felt like he let the bulls down. he was counted on turn the franchise around and he defintely felt like he was a difference maker. then the accident. i'm sure he wants to repay the trust that krause/reinsdorf initally showed. and repay the way pax and the new org has been handling everything post accident. and in his one season he's also seen how loyal the fans are, despite records :)

imho, when jay is ready for a comeback the bulls have dibs!
 

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Jay williams about to be buyed out!

see sportsline.com
 

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The buyout of Williams' contract obviously means a roster spot is opened, possibly paving the way for 2 for 1 or 3 for 2 trade.
 

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Yeah I agree this allows Paxson to pull a 2 for 1, maybe the Fizer for Jaric/Ely deal.
 
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