Amar’e Stoudemire moved into very exclusive company this summer. By accepting the veteran’s minimum of $1.5 million in signing as a free agent with the Miami Heat, Stoudemire became just the second player in NBA history to take a $20 million pay cut. Last season, Stoudemire was on the books for $23,410,000, the final season of the five-year deal worth about $100 million he signed with the New York Knicks in 2010. That was the summer that the Knicks tried to position
July has become a great month for the NBA. Considered the start of the offseason, July begins with the moratorium, when teams can’t do any official business but rumors and reports fly fast and furious. There are summer leagues in Orlando and Las Vegas, and NBA-TV fills countless programming hours by televising these games for hoops junkies. Sin City and its triple-digit temperatures has become the unofficial summer home of the league, hosting the Players Association meetings and Team USA’s training camp.
SheridanHoopsRadio is back after a week-long vacation. Hosts Brian Geltzeiler and Tommy Dee were joined by CBS Sports’ NBA Columnist Ken Berger and SheridanHoops’ own Chris Bernucca. They’ed talked about the top 10 free agents in the upcoming offseason, Mark Cuban’s amnesty comment, and more. [Read more…]
The Miami Heat celebrated their NBA Championship with a parade today. With that, the story line of the 2011-2012 season finally came to a conclusion, which means the beginning of everything else from free agency to trade rumors. See the latest on Kyle Lowry, Steve Nash, Ray Allen, Brandon Jennings and more in the news items below. Chris Sheridan described Amare Stoudemire’s poor use of judgment in yesterday’s news, and now the NBA will investigate, according to Marc Berman: “A source
By Moke Hamilton NEW YORK — Why judge a trade before it’s even officially announced? Oh, that’s right. Silly me. The mandate of the “New York minute” requires that your mind be made up and declarations of “win” or “lose” be made almost instantaneously. Ahem. Pardon my refusal. Tyson Chandler is expected to be announced as the newest member of the New York Knicks, perhaps as early as today. Late Friday night, Marc Berman of the New York Post reported that the Knicks agreed
The hot topic right now in the NBA is the amnesty provision of the new collective bargaining agreement. The next thing to take a closer look at is the stretch exception, which is a mechanism that is designed to give relief to teams that make mistakes once the new collective bargaining agreement goes into effect. (The stretch exception does NOT apply to contracts signed under the old CBA). Here is the exact wording regarding the stretch exception from the memo that was
And what, you may ask, is secondary waivers? The details still need to be ironed out in “secondary negotiations” between lawyers from the league office and the, ahem, union, but there is going to be a bidding process for players released under the amnesty clause of the new collective bargaining agreement. How will that bidding process work? Something like this: Let’s say the Orlando Magic decide to release Gilbert Arenas, who has $62 million remaining on his contract over the next three years, including
From Howard Beck of The New York Times, reporting on what has been agreed to by the owners and the players: “There will be a one-time “amnesty” provision that will allow each team to waive a player (with pay) without his salary counting against the salary cap. There will be a “stretch” exception, available every year, allowing teams to waive players and stretch out their remaining salary over a number of seasons, thus reducing the annual salary-cap hit. The midlevel exception will be