New Jersey Nets sell pick for cash

[F-Dog]

ESPN.com

The Portland Trail Blazers may be closer to finding a first-round spot for Lincoln High (N.Y.) point guard Sebastian Telfair after agreeing to trade backup point guard Eddie Gill and $3 million to the New Jersey Nets for the 22nd overall pick in Thursday's NBA draft, league sources told ESPN.com Sunday night.

The Nets seem to be in cost-cutting mode. The original rumor was the pick, Kittles and Aaron Williams for SAR, and then (presumably) not matching a max offer to Kenyon Martin...

 

[capologist]

Ouch.

It really sucked when we sold those two picks to Utah, but at least that was an act of owners who were trying to sell the team.

When this is the first act of the team’s new owners, that has to be taken as a very discouraging message to fans.

This franchise is going to be competing in the same market as the prodigal Knicks? That should be interesting.

 

[George O'Brien]

ESPN.com

The Nets seem to be in cost-cutting mode. The original rumor was the pick, Kittles and Aaron Williams for SAR, and then (presumably) not matching a max offer to Kenyon Martin...

Gill has a team option on his $720,000 contract for next season. Getting the cash would be nice, but I'm not sure I see the value to the Nets. the 22nd pick only makes $849,500 so it really doesn't do much for a team with over $61 million in salaries.

 

[capologist]

Cap-wise, it means nothing. However, $3 million is still $3 million.

Remember, this is real money we’re talking about. The same stuff that you and I pay for food and utilities, just a heck of a lot more of it.

 

[Joe Mama]

Cap-wise, it means nothing. However, $3 million is still $3 million.

Remember, this is real money we’re talking about. The same stuff that you and I pay for food and utilities, just a heck of a lot more of it.

Exactly. It's the same reason that it's not as easy as some of us think to unload players like Jahidi White and especially Howard Eiseley. After all the bills are paid a couple million dollars might be the difference between black and red ink in the NBA these days.

Joe Mama

 

[Southpaw]

Nets don't need Telfair in a weak draft. Last thing they need is a Jason Kidd/Sebastian Telfair controversy. Adidas will want to see some playing time for their new signee and Portland is done with Stoudemier.

Nets have contract problems with Martin, etc. Blazers cleaning house.

 

[slinslin]

Exactly. It's the same reason that it's not as easy as some of us think to unload players like Jahidi White and especially Howard Eiseley. After all the bills are paid a couple million dollars might be the difference between black and red ink in the NBA these days.

Joe Mama

New Jersey is trying to cut costs because of the sale. If anything this probably proves that they won't match for Martin.

It also means that a team is willing to pay 3M$ for a later first round pick.

 

[F-Dog]

More news on the impending Nets breakup:


NY Post

More crippling for the Nets is the very real possibility of losing Martin, a restricted free agent, to avoid paying any luxury tax. Martin will seek a maximum contract and the team may be reluctant to offer it because ownership does not want three maximum deals, sources said. Kidd already has one and another probably will go to Jefferson, the youngest of the three, next year. The team likely will exercise a buyout of Lucious Harris' contract and try to buy out Rodney Rogers as well as not using the mid-level exception, worth $5 million, for a free agent.

"The team is going to look a lot different from the past couple years," one source maintained.