Suns offer Amare maximum contract extension worth an estimated $110 million

[Roca Dolla]

Amar'e Extension Talks: There was a lot said yesterday about talks between Amar'e Stoudemire and the Phoenix Suns "resuming." Sources close to the situation say the concept is silly because Stoudemire's agent Happy Walters and Steve Kerr have become good friends and talk regularly about a wide range of topics.
While the Suns would like to get a contract extension done, Stoudemire is not likely signing anything until July.
Sources close to the situation classify the "resuming talks" as possible damage control as the Suns want it clear that they have tried everything possible to reach a deal with Stoudemire.
The Suns latest contract offer is a full dollar maximum extension worth an estimated $110 million. So there is little to talk about other than how the Suns plan to build a championship contender in the Western Conference.
Sources close to Stoudemire say that's the only thing he needs to understand; the financial part has been taken care of and Suns' owner Robert Sarver has ponied up the money. Now it's about painting a brighter future in order to get a deal done.

http://www.hoopsworld.com/Story.asp?story_id=16374#ixzz0pjqFWLAl

interesting lol

 

[Chaplin]

Of course, no source whatsoever. I thought Hoopsworld gets all their news from other news outlets (like newspapers, etc)? This doesn't have anything.

 

[Go Devils]

i would rather pay Boozer 1/2 as much

 

[joshstmarie]

Yea right.

 

[SunsTzu]

Hoopsworld is basically a fan website with no credibility. Don't even think that amount is a possibility as an extension, pretty sure the most # of years on an extension is 3 or 4 and even at max that wouldn't be 110mil.

 

[Gaddabout]

I call BS.

 

[dodie53]

holy ****!
110mil

 

[Covert Rain]

If this is true then so much for the Suns going for another player like Dirk or trying to sign Amare for less then the max. Unless...this is a precursor signing for a sign and trade.

 

[azsportsfan01]

If this is true then so much for the Suns going for another player like Dirk or trying to sign Amare for less then the max. Unless...this is a precursor signing for a sign and trade.

Suns don't have the cap space to add anyone major except for Amare (because of the Bird Rights). Also you can't sign and trade until July 1st. You can't even talk about it until July 1st.

 

[AzStevenCal]

I think I just threw up a little in my mouth. It'll probably go down better than this story and it definitely smells better.

I hope this story isn't true. Not only that, I really hope this story isn't true.

Steve

 

[AfroSuns]

That is a ridiculous amount to say the least. Whats that a 5-6yrs contract? That is crazy, waiting for a more reliable source

 

[Covert Rain]

Suns don't have the cap space to add anyone major except for Amare (because of the Bird Rights). Also you can't sign and trade until July 1st. You can't even talk about it until July 1st.

I realize that. Even if this were true (which I don't think it is), you could negotiate the deal now, agree to it and wait until July 1st. Also, I wouldn't expect the Suns to get a major player in here without a SAT.

 

[Bert]

So even if that's 5 years it's what, 22 million a year? I am having a hard time believing that.

 

[Mainstreet]

If this rumor is true I'm hoping the Suns do a sign and trade with Amare. Basically the Suns hands would be tied in adding more talent.

 

[jagu]

WTF?!!! Sigh.. if that's true I think I'm going to turn into a bulemic.

 

[Divide Et Impera]

WTF? If true, I'm an OKC fan. This is ridiculous....

 

[Chaplin]

If this were true, another outlet would have reported it long ago. As of now, it's just hoopsworld and they have almost zero credibility. Besides, why would they offer it now when most of the guys are on their vacations! Hell, the Steve Kerr extension hasn't even happened yet. If Amare opts out, he's not going to be a free agent until July 1, so why offer a maximum ridiculous extension at this point? Even though we know he'll get offered a max extension, has anything official come out about Lebron and the Cavs?

 

[Mainstreet]

All these players are talking with each other before July 1 on where they want to go while team management must remain silent.

In a way the deck could be shuffled by the elite players even before FA begins.

 

[azsportsfan01]

I realize that. Even if this were true (which I don't think it is), you could negotiate the deal now, agree to it and wait until July 1st. Also, I wouldn't expect the Suns to get a major player in here without a SAT.

If your talking about negotiating a sign and trade now and then waiting til July 1st then that is major tampering. You can't have any discussions right now with any other team but your own. Also a player will only come with a sign and trade when he finds the team who is willing to pay him the money, i.e. Joe Johnson and the Hawks.

 

[elindholm]

I can't find the post anymore, but I worked out the numbers for a maximum extension for Stoudemire, and $110M is about right. Since his salary is already so high, his maximum is higher than the maximum of most other players -- including James's, for example.

 

[elindholm]

Never mind, here it is. $110M, more or less, would be for five years.

Per hoopshype, Stoudemire's salary this season is $16.38 million.

The rules are confusing, so I may not have this quite right, but it's close:

If he opts out and then re-signs with the Suns, they can offer him up to six years (through 2015-16), starting at $17.69 million and with annual raises of 10.5% of that figure, which is $1.86 million, thus:

2010-11: 17.69
2011-12: 19.55
2012-13: 21.40
2013-14: 23.26
2014-15: 25.12
2015-16: 26.98

total $134.0 million over six years (average 22.3 per)

Another team can sign him for only five years, starting at the same salary for $17.69 million but then with raises of only 8% of that figure, which is $1.42 million:

2010-11: 17.69
2011-12: 19.11
2012-13: 20.52
2013-14: 21.94
2014-15: 23.35

total $102.6 million over five years (average 20.5 per)

However, I think it's true that if the new CBA lowers the maximum salary numbers league-wide, those new rules will override the above calculations. In other words, contracts are written up for those numbers "or the player's maximum salary, whichever is less."

If Stoudemire signs an extension with the Suns instead of opting out, it's not as good a deal for him, because raises would be in between the two scenarios above. It may also be that he couldn't get the 2015-16 year, but that isn't clear to me. The advantage, from the player's standpoint, to extending early is that is a protection against injury. The Suns are so close to the end of the season, however, that that's not really a factor anymore, so I think it's safe to assume that extension talks are not happening at the moment.

By comparison, LeBron James is making "only" $15.78 million this season, so when you work it out, his maximum extension from the Cavaliers is about $3.5 million less than what Stoudemire could (theoretically) get from the Suns. That's one of the reasons I think it's a bit far-fetched to talk about Stoudemire receiving an actual maximum offer from anyone.

 

[cly2tw]

I know some fans might be on the suicide watch for now. But the number may be just imagination out of the fact that "the financial part be taken care of".
First, if it's 6 year 110m, it's not the super max. It'd be even slightly below the regular FA max of 5y/96mil some reported, extended to 6 years. Aside from the length, it'd be the TD and KG like "concession" of below-max deals.
2nd, it'd be only reasonable that the problem of an extension was about how to build/main a contender team. Given that, there might be more concession financially to make Amare look good in public eyes, like the crap that he'd put the team first etc. by being 20 mil or so below the super max.

For now, just take some Prozac and hang in there until all is said and done.

 

[jandaman]

Suns are a 41-41 team with Stoudemire as 40% of the salary cap for the Suns... thats assuming Dragic, Clark and Lopez become legit starters too.

Its depressing....

 

[cly2tw]

Suns are a 41-41 team with Stoudemire as 40% of the salary cap for the Suns... thats assuming Dragic, Clark and Lopez become legit starters too.

Its depressing....

By that time, Kerr would have traded him for rebuilding assets elsewhere. Only with a signed Amare could you ever get anything in return. At least, you'd have the choice whether you wanted to go the route like Celtics with Pierce holding the forte, or just dismantle and rebuild after Nash retires.

 

[Chaplin]

Paul Coro is usually pretty good at addressing these types of rumors, especially if they appear on reputable websites, whether it's in his blog or on twitter.

He hasn't mentioned anything about this all day. So take that for what it's worth.