Doesn't say for how many years, I assume 5 years.
http://www.nydailynews.com/sports/ba...p-365255c.html
New York Daily News - http://www.nydailynews.com
NBA market watch
Sunday, July 9th, 2006
The first wave of free agency has gone pretty much as expected, with Ben Wallace leaving Detroit, LeBron James accepting an extension from the Cavaliers, Sam Cassell and Jason Terry staying in Clipper-land and Dallas, respectively, and New Orleans/Oklahoma City, willing to overpay to make a run at the playoffs. A look at some of the moves that will become official Wednesday, the first day teams can sign free agents:
Big Ben to Chicago
The Bulls haven't won a playoff series since Michael Jordan played in Chicago, but they're obviously in a win-now mode after agreeing to give Wallace $60 million over four seasons. His minutes, rebounds and blocked shots have decreased every season since 2002-03, he'll turn 32 in September and he had run-ins with Rick Carlisle, Larry Brown and Flip Saunders - all factors in Detroit's decision to make him a $46 million offer they knew he would refuse.
"I didn't feel insulted," Wallace said. "But looking at the league and the market and what players are paid, I thought I could get more. I thought I deserved a little bit more, but I was never insulted by the offer. At the end of the day, who can say that they had an opportunity to turn down $46 million?"
The Bulls used a good deal of their $15 million in cap space on Wallace. He'll provide energy, rebounds and no one is a better help-defender, so he'll fit perfectly into Scott Skiles' system. The Bulls have led the league in field-goal-percentage defense the last two seasons and are locks to make it three straight.
But Wallace is an offensive liability. He doesn't attract double-teams, he's amazingly a worse foul shooter than Shaquille O'Neal, and he's such a non-factor at the offensive end, his team has to play four-on-five. In Detroit, it got to the point where the team's executives, coaches and players did not want Wallace touching the ball, except if he were blocking a shot or clearing the boards.
Wallace won four Defensive Player of the Year awards, so it's not as if the Pistons won't miss him. But they may adjust better to his loss than most people think. And for everyone who has penciled the Bulls into the 2007 Eastern Conference Finals, here's something to remember: Wallace is coming from a team that had more accomplished scorers - Chauncey Billups, Richard Hamilton and Rasheed Wallace - than what he will have surrounding him in Chicago.
"The Bulls had problems scoring last season," said one Western Conference executive. "They still haven't addressed that area."
Nor are they going to be able to solve that problem by dealing off some of their assets, including Ben Gordon and Andres Nocioni, for Kevin Garnett. Since the draft, the Timberwolves have told several teams, including Chicago, Seattle and New Jersey, that they are not going to trade Garnett. Once they had an agreement with Wallace, the Bulls were out of the Al Harrington sweepstakes. To get something more than the mid-level exception, starting at around $5.1 mil, Harrington and Bonzi Wells will have to be part of sign-and-trades.
Staying home becomes popular
The Mavs and Clippers couldn't afford to lose their top free agents - and they didn't.
Terry was Dallas' second-leading scorer at 17.1 points per game and, until Game 6 of the Finals, had a better series against Miami than Dirk Nowitzki had. Although Terry will turn 29 in September, he was regarded as the signing priority in Dallas, so Mark Cuban signed off on a six-year deal worth $50 million.
The Clippers will continue to need Cassell's leadership to improve on their strong playoff showing. So it was imperative to retain him, as they did with a two-year agreement worth around $13 million. They lost Vladimir Radmanovic to the Lakers, but replaced him with Tim Thomas. That's a wash.
Two high-profile members of the great 2003 draft class, Miami's Dwyane Wade and Denver's Carmelo Anthony, also agreed to extend for the maximum (five years, $80 million). But James made the Cavs sweat before inking a five-year, $80 million deal yesterday with Cleveland.
The feeling among some executives is that James wanted to make sure the Cavs were committed to making the necessary changes that ensure him the best chance of winning. That won't be easy. The Cavs revamped their roster last offseason and don't have a lot of movable pieces. But James seemed comfortable yesterday with the direction of the franchise.
"I am very excited and happy to be re-signing with the Cavaliers. Staying in Cleveland . . . provides me with the unique opportunity to continue to play in front of my family, friends and fans," James said in a statement. "I look forward to working toward bringing a championship to our great fans and the city of Cleveland."
Hornets open the vault
They'll never be confused with the Knicks, whose luxury-tax bill of $52 million exceeds several teams' entire payrolls, but the Hornets did emerge as the one team that decided to overpay for talent this summer. Now Chris Paul has a better scoring option to get the ball to, in Peja Stojakovic, even if it means that the Hornets have to slow down their offense.
According to one Indiana official, the Pacers were "blown away" that the Hornets gave Stojakovic a five-year, $64 million deal after he bowed out of the Nets series with a knee injury and added to his reputation of failing to deliver in the postseason. Ever conscious of the luxury tax, the Pacers were willing to go up to $46 million for Stojakovic. So they ended up getting nothing in return for Ron Artest, whom they dealt to Sacramento to acquire Stojakovic before the trade deadline. Now they're looking at Harrington or Wells, who are among the last of the top free agents in a weak field.
The Hornets were $18 million under the projected $51 million cap, so they had more than enough for Stojakovic and Memphis' Bobby Jackson. Their $17 million deal (over three years) was more than the Kings or anyone else was willing to give Jackson. And as if you needed more proof that they're willing to throw money around, they took on Tyson Chandler's bloated contract ($54 million over five years) in sending off P.J. Brown, with one year left on his deal, to Chicago. That's a move straight out of Isiah Thomas' playbook.
http://www.nydailynews.com/sports/ba...p-365255c.html
New York Daily News - http://www.nydailynews.com
NBA market watch
Sunday, July 9th, 2006
The first wave of free agency has gone pretty much as expected, with Ben Wallace leaving Detroit, LeBron James accepting an extension from the Cavaliers, Sam Cassell and Jason Terry staying in Clipper-land and Dallas, respectively, and New Orleans/Oklahoma City, willing to overpay to make a run at the playoffs. A look at some of the moves that will become official Wednesday, the first day teams can sign free agents:
Big Ben to Chicago
The Bulls haven't won a playoff series since Michael Jordan played in Chicago, but they're obviously in a win-now mode after agreeing to give Wallace $60 million over four seasons. His minutes, rebounds and blocked shots have decreased every season since 2002-03, he'll turn 32 in September and he had run-ins with Rick Carlisle, Larry Brown and Flip Saunders - all factors in Detroit's decision to make him a $46 million offer they knew he would refuse.
"I didn't feel insulted," Wallace said. "But looking at the league and the market and what players are paid, I thought I could get more. I thought I deserved a little bit more, but I was never insulted by the offer. At the end of the day, who can say that they had an opportunity to turn down $46 million?"
The Bulls used a good deal of their $15 million in cap space on Wallace. He'll provide energy, rebounds and no one is a better help-defender, so he'll fit perfectly into Scott Skiles' system. The Bulls have led the league in field-goal-percentage defense the last two seasons and are locks to make it three straight.
But Wallace is an offensive liability. He doesn't attract double-teams, he's amazingly a worse foul shooter than Shaquille O'Neal, and he's such a non-factor at the offensive end, his team has to play four-on-five. In Detroit, it got to the point where the team's executives, coaches and players did not want Wallace touching the ball, except if he were blocking a shot or clearing the boards.
Wallace won four Defensive Player of the Year awards, so it's not as if the Pistons won't miss him. But they may adjust better to his loss than most people think. And for everyone who has penciled the Bulls into the 2007 Eastern Conference Finals, here's something to remember: Wallace is coming from a team that had more accomplished scorers - Chauncey Billups, Richard Hamilton and Rasheed Wallace - than what he will have surrounding him in Chicago.
"The Bulls had problems scoring last season," said one Western Conference executive. "They still haven't addressed that area."
Nor are they going to be able to solve that problem by dealing off some of their assets, including Ben Gordon and Andres Nocioni, for Kevin Garnett. Since the draft, the Timberwolves have told several teams, including Chicago, Seattle and New Jersey, that they are not going to trade Garnett. Once they had an agreement with Wallace, the Bulls were out of the Al Harrington sweepstakes. To get something more than the mid-level exception, starting at around $5.1 mil, Harrington and Bonzi Wells will have to be part of sign-and-trades.
Staying home becomes popular
The Mavs and Clippers couldn't afford to lose their top free agents - and they didn't.
Terry was Dallas' second-leading scorer at 17.1 points per game and, until Game 6 of the Finals, had a better series against Miami than Dirk Nowitzki had. Although Terry will turn 29 in September, he was regarded as the signing priority in Dallas, so Mark Cuban signed off on a six-year deal worth $50 million.
The Clippers will continue to need Cassell's leadership to improve on their strong playoff showing. So it was imperative to retain him, as they did with a two-year agreement worth around $13 million. They lost Vladimir Radmanovic to the Lakers, but replaced him with Tim Thomas. That's a wash.
Two high-profile members of the great 2003 draft class, Miami's Dwyane Wade and Denver's Carmelo Anthony, also agreed to extend for the maximum (five years, $80 million). But James made the Cavs sweat before inking a five-year, $80 million deal yesterday with Cleveland.
The feeling among some executives is that James wanted to make sure the Cavs were committed to making the necessary changes that ensure him the best chance of winning. That won't be easy. The Cavs revamped their roster last offseason and don't have a lot of movable pieces. But James seemed comfortable yesterday with the direction of the franchise.
"I am very excited and happy to be re-signing with the Cavaliers. Staying in Cleveland . . . provides me with the unique opportunity to continue to play in front of my family, friends and fans," James said in a statement. "I look forward to working toward bringing a championship to our great fans and the city of Cleveland."
Hornets open the vault
They'll never be confused with the Knicks, whose luxury-tax bill of $52 million exceeds several teams' entire payrolls, but the Hornets did emerge as the one team that decided to overpay for talent this summer. Now Chris Paul has a better scoring option to get the ball to, in Peja Stojakovic, even if it means that the Hornets have to slow down their offense.
According to one Indiana official, the Pacers were "blown away" that the Hornets gave Stojakovic a five-year, $64 million deal after he bowed out of the Nets series with a knee injury and added to his reputation of failing to deliver in the postseason. Ever conscious of the luxury tax, the Pacers were willing to go up to $46 million for Stojakovic. So they ended up getting nothing in return for Ron Artest, whom they dealt to Sacramento to acquire Stojakovic before the trade deadline. Now they're looking at Harrington or Wells, who are among the last of the top free agents in a weak field.
The Hornets were $18 million under the projected $51 million cap, so they had more than enough for Stojakovic and Memphis' Bobby Jackson. Their $17 million deal (over three years) was more than the Kings or anyone else was willing to give Jackson. And as if you needed more proof that they're willing to throw money around, they took on Tyson Chandler's bloated contract ($54 million over five years) in sending off P.J. Brown, with one year left on his deal, to Chicago. That's a move straight out of Isiah Thomas' playbook.
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