Suns can use KT trade exception to acquire Cassell off waivers

[fordronken]

http://myespn.go.com/blogs/truehoop/0-30-114/Sam-Cassell--Potentially-Grumpy-Warrior-or-Sun.html

 

[Louis]

Too bad he'll be playing in Boston soon.

He'd be a great p/u.

 

[fordronken]

I'm just hoping Kerr could convince Sarver to spend the extra 12 million dollars and just go for the freaking championship.

 

[dreamcastrocks]

Too bad he'll be playing in Boston soon.

He'd be a great p/u.

If the Suns pick him up off of waivers, Boston has no claim to him.

 

[Cheesewater]

He's little but he can get on a shooting streak. Can he play the 2 when we don't need Bell's D?

 

[jlove]

Yes the Suns COULD have picked Cassell up using the KT TPE, however, since Cassell is being bought out and NOT waived, we can't use the TPE to pick him up.

A WAIVED player can be picked up off waivers ONLY if the team is UNDER the salary cap or they have a TPE big enough to cover the contract. Cassell is being BOUGHT OUT not waived. He still has to clear a "waivers", but this type of waivers is more along the lines of a waiting period. It's the same thing with Brent Barry.

 

[nashman]

Cost too much not gonna happen!

 

[Mainstreet]

I'm just hoping Kerr could convince Sarver to spend the extra 12 million dollars and just go for the freaking championship.

Can the Suns use part of the TE to offer a player that is already a FA?

 

[elindholm]

Cassell is being BOUGHT OUT not waived. He still has to clear a "waivers", but this type of waivers is more along the lines of a waiting period. It's the same thing with Brent Barry.

What does this mean? He's either on waivers or he isn't. If someone claims him off of waivers, what happens?

 

[fordronken]

Yes the Suns COULD have picked Cassell up using the KT TPE, however, since Cassell is being bought out and NOT waived, we can't use the TPE to pick him up.

A WAIVED player can be picked up off waivers ONLY if the team is UNDER the salary cap or they have a TPE big enough to cover the contract. Cassell is being BOUGHT OUT not waived. He still has to clear a "waivers", but this type of waivers is more along the lines of a waiting period. It's the same thing with Brent Barry.

I'm under the impression that a buyout is simply a restructuring of the contract before they get waived. A player still has to be waived, and still has to clear waivers, doesn't he?

 

[Mainstreet]

What does this mean? He's either on waivers or he isn't. If someone claims him off of waivers, what happens?

They have to pay his original or agreed upon buyout salary.

 

[Chaplin]

I'm under the impression that a buyout is simply a restructuring of the contract before they get waived. A player still has to be waived, and still has to clear waivers, doesn't he?

I thought that was the case, that's why we had to wait until today about Brent Barry.

 

[da_suns_fan]

Yes the Suns COULD have picked Cassell up using the KT TPE, however, since Cassell is being bought out and NOT waived, we can't use the TPE to pick him up.

A WAIVED player can be picked up off waivers ONLY if the team is UNDER the salary cap or they have a TPE big enough to cover the contract. Cassell is being BOUGHT OUT not waived. He still has to clear a "waivers", but this type of waivers is more along the lines of a waiting period. It's the same thing with Brent Barry.

Thank you! I was thinking "they have a trade exception that they didn't use....the trading deadline passed".

Suns still have the full MLE (close to six million), but they won't use that (see Robert Sarver). They'll probably offer him a minimum contract.

 

[Rab]

If you claim him off waivers, then you have to pay the buyout salary. After he clears waivers, you can try signing him to a cheaper deal. That's why most teams let players clear waivers.

 

[BeeBeard]

After a buyout, clearing waivers is a mere formality. The contract still exists between the old team and the bought out player, but only as a redefinition of the performance sought by each party. (Team: Keep paying player's salary, but a reduced amount Player: Have fun playing for a different team). I cannot remember the last time clearing waivers after a buyout was some sort of issue.

Edit: One more thing, Cassell will probably be playing for Boston for a pro-rated portion of the veteran's minimum! (i.e. dirt cheap). The Suns could try to offer more, but jeez--the guy doesn't seem to care about money, and more about just playing with his friends on a contender.

 

[fordronken]

After a buyout, clearing waivers is a mere formality. The contract still exists between the old team and the bought out player, but only as a redefinition of the performance sought by each party. (Team: Keep paying player's salary, but a reduced amount Player: Have fun playing for a different team). I cannot remember the last time clearing waivers after a buyout was some sort of issue.

Well, usually players that are bought out have salaries that are too big for someone to want to grab them off waivers. This is a rare case because of the trade exceptions-- and it's a highly coveted playoff performer.

 

[Suns_fan69]

According to Mr. Coon: http://members.cox.net/lmcoon/salarycap.htm#59

59. What is a contract buy-out?

Sometimes players and teams 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 number 90) will be reduced or eliminated;

* Optionally the payment schedule for the remaining salary may be shortened or lengthened.

For example, the Celtics did this with Dino Radja prior to the 1997-98 season. They mutually agreed to reduce Radja's compensation protection to 50% of its value, and 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 1999-00 season to resolve. As detailed in question number 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 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 1999-00 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 were 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, and is payable with the exercise of an ETO or the non-exercise of an option.

 

[nowagimp]

If you claim him off waivers, then you have to pay the buyout salary. After he clears waivers, you can try signing him to a cheaper deal. That's why most teams let players clear waivers.

It says here than the suns and warriors are two teams capable of claiming cassel off wavers

http://myespn.go.com/blogs/truehoop/0-30-114/Sam-Cassell--Potentially-Grumpy-Warrior-or-Sun.html

 

[elindholm]

So technically the buyout is dependent upon the player clearing waivers. If someone snags Cassell off waivers, there is no buyout.

 

[Chief]

No knees and horrible D. Not what the suns need right now.

 

[Suns_fan69]

It says here than the suns and warriors are two teams capable of claiming cassel off wavers

http://myespn.go.com/blogs/truehoop/0-30-114/Sam-Cassell--Potentially-Grumpy-Warrior-or-Sun.html

Correct. Again from Mr. Coon:

54. What are waivers?

It's a temporary status for players who are released by their team. A player released between August 15th and the end of the regular season stays on waivers for 48 hours. A player released at any other time stays on waivers for seven days. During the waiver period other teams may claim a waived player. If more than one team tries to claim the player, the team with the worst record gets him. If a player on waivers is claimed, the new team acquires his existing contract and pays the remainder of his salary. There is also a fee of $1,000, payable to the league office, for claiming a waived player.

A team can claim a waived player only if one of the following is true:

* The team is far enough under the salary cap to fit the player's entire salary.

* The team has a Disabled Player exception for at least the player's salary (see question number 19).

* The team has a Traded Player exception for at least the player's salary (see question number 69).

* The player's contract is for one or two seasons and he is paid the minimum salary.

If no team claims a waived player, he is said to have "cleared waivers." The player may sign with a new team of his choice, and the player's prior team continues to pay the guaranteed portion of the terminated contract (see question number 90 for more information). The player's salary with his new team is a matter of negotiation. Few players are actually claimed while on waivers, since the team claiming a waived player inherits his entire contract. It is far more common for teams to wait for the player to clear waivers, and then sign him to a much smaller (even minimum salary) contract.

If a player is waived after March 1, he is ineligible to be included in the playoff roster of any team that signs him for the remainder of that season.

If a team trades a player and the player is waived by the receiving team, the player's original team cannot re-sign that player for 30 days (during the season) or 20 days (during the offseason) following the date of the trade.

So Cassell when bought out will be waived (as per previous quote from Mr. Coon) and the Suns do have a Traded Player Exception large enough to fit his entire salary so Phoenix can claim him off waivers and pay him his previous full salary if we wanted, which would prevent him from ever talking to Boston.

Whether they want to eat the luxury tax hit for this or not is an entirely different question altogether.

 

[Suns_fan69]

So technically the buyout is dependent upon the player clearing waivers. If someone snags Cassell off waivers, there is no buyout.

I didn't read it the same way. That's not in either party's control and I'm not sure if buyouts can contain a clause for that. Once he's on waivers I don't think he can be pulled back.

 

[dreamcastrocks]

I didn't read it the same way. That's not in either party's control and I'm not sure if buyouts can contain a clause for that. Once he's on waivers I don't think he can be pulled back.

Pulling back would imply he would be going to back to the Clippers. The reason that they have waivers IS for other teams to have the ability to sign other players from other teams, if they are willing to adhere to the previous contract.

 

[BeeBeard]

So technically the buyout is dependent upon the player clearing waivers. If someone snags Cassell off waivers, there is no buyout.

No no, the two things are separate. The buyout always goes down regardless, but as another poster said, what a new team who picks the player up may or may not have to pay is contingent on their waiver status.

Like I said, the waiver thing is a mere formality after a buyout. Nobody tries to grab a player like this after they've been bought out, at least in my recollection (would be happy if somebody pointed out otherwise). They always, always wait the two days for the player to clear waivers.

 

[Mainstreet]

My understanding is the team picking up a player on waivers after a buyout would only have to pay the prorated salary of the player's buyout for the remainder of the season.