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Thread: Finley was bought out today

  1. #1
    Jesus Shuttlesworth
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    Default Re: Finley was bought out today

    Man Phoenix will look even better than before the New York trade if they can sign him and he is healthy of course.

  3. #3
    foretaz
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    Default Re: Finley was bought out today

    why did i think they couldnt do this till after the cba is signed and ratified???

    i thought there was going to be a very specific window for the amnesty clause to be used....

    or maybe he was just bought out and this has nothing to do with the amnesty provision....

    or maybe the people and reporters in phoenix are getting ahead of themselves....

    that being said....i have said before, that if finley does become available in this type of situation that phoenix would definitely be a major player for his services....i seem to remember a certain conversation with a certain detroit fan regarding this subject...

  4. #4
    Pacer Junky Will Galen's Avatar
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    Default Re: Finley was bought out today

    I'm thinking being bought out and being waived are two different things.

    After hearing Finley was bought out, I had a thought. Why couldn't we do the same with Croshere and then resign him to a reasonable contract.

    Cro is one of the good guys so it wouldn't set well with the Pacers to just waive him. However, if they bought his present contract out and then signed him to a new one . . . hmmm, I think I read that wasn't allowed. Can anybody confirm this?

  5. #5
    Pacer Junky Will Galen's Avatar
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    Default Re: Finley was bought out today

    Here's the answer.

    57. What is a contract buy-out?
    Sometimes players and teams mutually decide to divorce each other. They do this by mutually agreeing that:

    The team will waive the player;

    If the player clears waivers, the compensation protection for lack of skill (see question 90 ) will be reduced or eliminated
    For example, the Celtics did this with Dino Radja prior to the 97-98 season. They mutually agreed to reduce Radja's compensation protection to 50% of its value, then the Celtics waived him. When he cleared waivers he was paid the 50% he was owed, and he was then free to return to Europe.
    But there's a twist, which needed an arbitrator's ruling during the 99-00 season to resolve. As detailed in question 90 , on January 10 all contracts become guaranteed for the rest of the season. Compensation protection insures the player against loss of salary after being being waived for lack of skill. But if he is waived after January 10, then he doesn't lose his salary, so the compensation protection does not kick in. Even though the team & player can mutually agree to reduce or eliminate the player's compensation protection, he is still owed his full salary if waived after January 10.

    This was challenged by John Starks during the 99-00 season. Starks had been traded to the Bulls, and wanted to sever ties with the team after January 10. The arbitrator ruled that in the last season of a player's contract, the team and player could choose to eliminate the contract guarantee that kicked in on January 10. Starks and the Bulls where therefore free to agree to a divorce (with no money owed to Starks) as described above.

    There is one other type of buyout described in the CBA. When a contract contains an option year, a buyout amount for the option year can be written into the contract. The buyout amount may be up to 50% of the salary for the option year.


    --------------------------------------------------------------------------------

    58. How do buy-outs affect a team's salary cap?
    The agreed-upon buy-out amount (see question number 57 ) is included in the team salary instead of the salary called for in the contract. If the player had more than one season left on his contract, then the buy-out money is distributed among the seasons in proportion to the original salary. For example, say a player had three seasons remaining on his contract, with salaries of $10 million, $11 million and $12 million. The player and team agree to a buyout of $15 million. The $15 million is therefore charged to the team salary over the three seasons. Since the original contract had $33 million left to be paid, and $10 million is 30.3% of $33 million, 30.3% of the $15 million buyout, or $4.545 million, is included in the team salary in the first season following the buyout. Likewise, 33.33% of $15 million, or $5 million, is included in the team salary in the second season, and 36.36% of $15 million, or $5.455 million, is included in the team salary in the third season. Note that this is true even if the player is paid all of his buy-out money in a lump sum. The distribution of the buy-out money itself is a matter of individual negotiation.

  6. #6
    Grumpy Old Man (PD host) able's Avatar
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    Default Re: Finley was bought out today

    Let's stay reasonable, to "buy Cro out" both parties agree to a "lesser" amount and part ways,(it is not legal to re-sign hime for less after that btw) now WHY would Cro want to do that?
    A. he is in a different position because he has an option clause in his contract (player option) for the next two years.
    B. he would get less then when he exercises his option, or when he's waived under the CBA excemption, I can not see why he would need to "drop" millions of the team wants to save money in LT.
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  7. #7
    foretaz
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    Default Re: Finley was bought out today

    Quote Originally Posted by able
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    Let's stay reasonable, to "buy Cro out" both parties agree to a "lesser" amount and part ways,(it is not legal to re-sign hime for less after that btw) now WHY would Cro want to do that?
    A. he is in a different position because he has an option clause in his contract (player option) for the next two years.
    B. he would get less then when he exercises his option, or when he's waived under the CBA excemption, I can not see why he would need to "drop" millions of the team wants to save money in LT.
    i could see only one possible scenario....a situation comes up where he could go somewhere he would rather be and get much more playing time....and both parties would have to agree that he wouldnt be getting any playing time here....now i dont think both parties will agree to that....but i dont think hes gettting much playing time this year...

    if a los angeles team was interested in him and he could be a legitimate contributor to a contending team then he might be willing...

    he would have to be able to make somewhere the same amount with his new teams salary(which probably wouldnt be much) and his buyout....

    i cant see a team paying much more than about 3 million for austin...i could be wrong...maybe someone comes close to offering their MLE-though i doubt it...but i have a feeling he wouldnt leave indy for many places so there wouldnt be many options and its not likely one of those options would be salivating at the fact of getting austin....

    find a place hed rather be and have substantially more playing time-and have that team want him enuff to pay him something other than the vet minimum...

    so in other words, to say the chances are slim would be an understatement

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    Default Re: Finley was bought out today

    I think one of the problems for the Fin in dallas is he was unwilling to take a lesser role. the Mavs want to hand over the reigns to Marquis Daniels at Sg. I think it is a bit early cause daniels can't shoot from outside. If joe Johnson remains in phoenix, Fin will have to come off the bench.

    I think if Indiana is gonna move Artest, Fin would be a very good pickup. IMO, Indiana has a better chance at a title than Phoenix and is close to Chicago where fin is from. Miami is also a good destination for him. I think they'd probably rather have fin than Eddie Jones. In Miami finl would get lots of minutes.

  9. #9
    foretaz
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    Default Re: Finley was bought out today

    at this point....with us drafting granger....as much as i hate to say it...i hope finley does go to miami....

    because of everything that has transpired im very concerned about jj ending up in miami.....and id really not like that to happen...if finley ends up in miami there might be a little less chance of jj ending up there....

    i just have a very scary feeling that jj is gonna be a huge priority for miami....and i have a feeling jj might love to play there...

  10. #10
    Member bread's Avatar
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    Default Re: Finley was bought out today

    The only reason Miami would want Finley instead of E Jones is if he gets A LOT less money. Being down here I hear the E Jones dialogue regularly and I can tell you that he is Miami's equivalent to Cro. The fans complain because he gets paid far above his skill level. However, the coaches and teammates love him and the fans would too if he made half of what they pay him.

    Unfortunately for the Heat he has 2 years and $30 mil left on his contract and that handcuffs them in the FA market.

  11. #11
    foretaz
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    Default Re: Finley was bought out today

    Quote Originally Posted by bread
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    The only reason Miami would want Finley instead of E Jones is if he gets A LOT less money. Being down here I hear the E Jones dialogue regularly and I can tell you that he is Miami's equivalent to Cro. The fans complain because he gets paid far above his skill level. However, the coaches and teammates love him and the fans would too if he made half of what they pay him.

    Unfortunately for the Heat he has 2 years and $30 mil left on his contract and that handcuffs them in the FA market.
    even with eddie jones....finley would be a great addition....6th man....wonder if miami gives any consideration to using the amnesty provision on eddie....theyre flirting with the luxury tax ...and if they try to make some additions....

  12. #12
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    Default Re: Finley was bought out today

    Riley has already stated that he will not use the amnesty rule on Jones. Plus they are adament about re-signing Haslem. They are prepared to offer him 5yr/$32 mil right off the bat and are also willing to use their full MLE to match any other offers. They will be right at the LT level already so I think the possibility of Finley going there is slim.

  13. #13
    How are you here? Kegboy's Avatar
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    Default Re: Finley was bought out today

    I think this article jumped the gun. Nobody else is saying anything about this, and it's pretty big news. The Dallas papers say Finley will be waved after the new CBA is in place, to take advantage of the Croshere Exemption. (Wow, he's getting one just like Bird. I always knew he could do it. )
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  14. #14
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    Default Re: Finley was bought out today

    Quote Originally Posted by Kegboy
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    I think this article jumped the gun. Nobody else is saying anything about this, and it's pretty big news. The Dallas papers say Finley will be waved after the new CBA is in place, to take advantage of the Croshere Exemption. (Wow, he's getting one just like Bird. I always knew he could do it. )
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