What's IN It For The Hornets if...

[krazyasiankid]

Sorry if I get this wrong guys, but I dont understand what the Hornets get back in return if the Suns trade Wallace for Ty Chand? I mean Wallace has a bigger contract and is older.. So.. Can someone clarify it for me?

 

[scotsman13]

it is really easy. the total contract for chandler is around 23 million over the next two years. the total contact for wallace is about 9 million only for the next year. if wallace retires the team that has him only has to pay about 80% of that ammount due to insurance picking up the rest. the hornets current payroll is around 70 million dollars and new orleans is still at around 70% of its population from before the storm. so salary tax and having about have 7/10s of your fans gone doesnt help a team stay in business.

 

[asudevil83]

it is really easy. the total contract for chandler is around 23 million over the next two years. the total contact for wallace is about 9 million only for the next year. if wallace retires the team that has him only has to pay about 80% of that ammount due to insurance picking up the rest. the hornets current payroll is around 70 million dollars and new orleans is still at around 70% of its population from before the storm. so salary tax and having about have 7/10s of your fans gone doesnt help a team stay in business.

actually thats not entirely correct. Insurrance only covers a players contract due to forced retirement due to injury. ala Mashburn, Miles, ect.

the hornets save money two ways if they trade for Wallace. 1.) they dont have to pay two years of chandler. 2.) IF Wallace accepts a buyout of the final year of his contract for lets say $9mil instead of the $14mil his is owed.

 

[YouJustGotSUNSD]

He will take significantly less than 9M. He wont be playing one game.

 

[Folster]

He will take significantly less than 9M. He wont be playing one game.

I don't understand why he would take less than $14 million. It's not like the $14 million is stretched out over 20 years; all he has to do is sit on the bench for one season and collect the entire $14 million. Unless he has some big plans in his life that he needs to start on right away, why not just wait one more year and "earn" the extra $5 million.

 

[Mainstreet]

I don't understand why he would take less than $14 million. It's not like the $14 million is stretched out over 20 years; all he has to do is sit on the bench for one season and collect the entire $14 million. Unless he has some big plans in his life that he needs to start on right away, why not just wait one more year and "earn" the extra $5 million.

I think a buyout of 12M is more realistic although less would be nice.

 

[HooverDam]

I don't understand why he would take less than $14 million. It's not like the $14 million is stretched out over 20 years; all he has to do is sit on the bench for one season and collect the entire $14 million. Unless he has some big plans in his life that he needs to start on right away, why not just wait one more year and "earn" the extra $5 million.

From what I've heard on radio (take this with a large grain of salt) he feels embarrassed at the prospect of doing that and like he hasn't been earning his money recently and wouldn't be in that situation.

 

[YouJustGotSUNSD]

I don't understand why he would take less than $14 million. It's not like the $14 million is stretched out over 20 years; all he has to do is sit on the bench for one season and collect the entire $14 million. Unless he has some big plans in his life that he needs to start on right away, why not just wait one more year and "earn" the extra $5 million.

A) if he physically cant play (which he has hinted at) he wont get paid as much and insurance will pay most of it anyway
B) if he sits on the bench, he still has to come to practice, go to games, be with the team at all times required, which isnt what he wants to do. he wants to retire.

so its: stay at home with his family for a few million, or sit in a suit on the bench and go to every game, practice and event for a few extra million

He wouldnt have announced that he wants to retire if his plan was to milk the remainder of his contract.

 

[devilalum]

Also Chandler is a bit of a health risk that the Hornets would be unloading.

 

[Folster]

A) if he physically cant play (which he has hinted at) he wont get paid as much and insurance will pay most of it anyway
B) if he sits on the bench, he still has to come to practice, go to games, be with the team at all times required, which isnt what he wants to do. he wants to retire.

so its: stay at home with his family for a few million, or sit in a suit on the bench and go to every game, practice and event for a few extra million

He wouldn't have announced that he wants to retire if his plan was to milk the remainder of his contract.

A) As I understand it, NBA contracts are guaranteed, he gets that money regardless of whether he's injured or not unless there is an injury clause. Who picks up the tab, the Suns or an insurance company is a different story.

B) Big whoop! One season with courtside seats to every Suns game and Phoenix Suns style practice is hardly a chore. I could understand if Pat Riley was our coach.

From what I've heard on radio (take this with a large grain of salt) he feels embarrassed at the prospect of doing that and like he hasn't been earning his money recently and wouldn't be in that situation.

I could see this being a possibility despite it being out of character for the majority of NBA players.

 

[YouJustGotSUNSD]

A) As I understand it, NBA contracts are guaranteed, he gets that money regardless of whether he's injured or not unless there is an injury clause. Who picks up the tab, the Suns or an insurance company is a different story.

There are still expectations that must be met for him to get paid. If they arent met, he doesnt get full amount. Case in point, Gilbert Arenas did not receive his full salary this last season, from insurance or otherwise.

B) Big whoop! One season with courtside seats to every Suns game and Phoenix Suns style practice is hardly a chore. I could understand if Pat Riley was our coach.

I'm not a family man at all and I can still see how shortsighted this point is.

I could see this being a possibility despite it being out of character for the majority of NBA players.

I'm pretty confident that his buyout will be well under $10M

 

[Mr. Boldin]

The Hornets would save big time in the luxury tax department, especially if Wallace retires.

Either way they could buy him out or if he wants to play and misses more than 25 games insurance covers 66% of the contract for games he misses.

Its all about saving money, not talent.

 

[devilalum]

A) As I understand it, NBA contracts are guaranteed, he gets that money regardless of whether he's injured or not unless there is an injury clause. Who picks up the tab, the Suns or an insurance company is a different story.

If a player just flat out quits you don't have to pay him. I keep reading that Wallace wants to quit and will do so for the right price.

Right?

 

[asudevil83]

The Hornets would save big time in the luxury tax department, especially if Wallace retires.

Either way they could buy him out or if he wants to play and misses more than 25 games insurance covers 66% of the contract for games he misses.

Its all about saving money, not talent.

i find this to be a bit ridiculous. if that is even close to true, then he must sit out due to an injury diagnosis by an independent doctor. he cant just suit up and not play 25 games. teams would take advantage of that left and right.

A) if he physically cant play (which he has hinted at) he wont get paid as much and insurance will pay most of it anyway
B) if he sits on the bench, he still has to come to practice, go to games, be with the team at all times required, which isnt what he wants to do. he wants to retire.

so its: stay at home with his family for a few million, or sit in a suit on the bench and go to every game, practice and event for a few extra million

He wouldnt have announced that he wants to retire if his plan was to milk the remainder of his contract.

a.) before any insurance company will cover 80% of a players contract, they must not have played a single game for an entire year, and then be diagnosed with a career ending injury. Wallace played last year, so before the Hornets are even eligible to petition for insurance coverage he will have expired. its a moot option for any team at this point.

b.) so false. i can name tons of players who where told not to show up for practice, games, events ect. most are because of strife between the player and management....but Wallace does not have an NBA mandated obligation to show up for practice or games. he and management can agree on a deal where he doesnt do anything for his money. BUT, if management wants to be dick about it, they CAN fine him for not showing up to practice or games, so they wouldnt have to pay him for the time he causes himself to miss.

so basically there are 4 options for any team who has his contract.

a.) allow him to chill with his family and get paid while doing so.
b.) make his life hell by forcing him to show up to practice/games or whatever. fine him for not doing so, and do everything possible to eventually get him to agree to a buyout.
b.) be scivil about a buyout. bot sides agree on a fair amount, lower than what he's owed the entire season.
c.) ask him to retire and own him nothing.

 

[Mainstreet]

before any insurance company will cover 80% of a players contract, they must not have played a single game for an entire year, and then be diagnosed with a career ending injury. Wallace played last year, so before the Hornets are even eligible to petition for insurance coverage he will have expired. its a moot option for any team at this point.

Well Wallace is under contract for another season so if he didn't play for a single game next season, might he still might qualify? I'm not sure how the insurance company defines the year. I'm not sure it would necessarily be a moot issue. Are you saying that an insurance company gets a free pass if a player is injured and it just happens to be his last season?

 

[asudevil83]

Well Wallace is under contract for another season so if he didn't play for a single game next season, might he still might qualify? I'm not sure how the insurance company defines the year. I'm not sure it would necessarily be a moot issue. Are you saying that an insurance company gets a free pass if a player is injured and it just happens to be his last season?

keep 1 things in mind. 1.) Wallace is not injured right now. he is completely healthy. worn down and old, yes, but he could have a physical tomorrow and he would be declared fit to play.

If Wallace does not retire at any point during the season, then there is absolutely nothing (even injury) that keeps his entire contract from counting against a team's salary cap next season. so, any luxury tax payments would still be payed no matter what.

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If Wallace were to get injured tomorrow and miss the entire 2009-10 season because of the injury i believe as of right now the suns would be responsible for paying his entire contract, and it would count against the cap. a year from tomorrow they could apply to declare him medically unfit to play. his contract would for sure have counted against the 2009-10 cap, but i honestly could not tell you if the suns would be reimbursed for the year's salary.

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i will tell you though, that if wallace just didnt play next season at all, then there is no way in hell an insurance company would just decide to cover his contract. its kinda like you or i applying for work dissability. injury has to be proven. and if its lied about, well that's insurance fraud.

 

[elindholm]

If a player just flat out quits you don't have to pay him. I keep reading that Wallace wants to quit and will do so for the right price.

Right?

Yes, that's correct. Wallace has said he's willing to leave money on the table for the sake of honor. His pride isn't defined entirely by his wealth.

 

[asudevil83]

If a player just flat out quits you don't have to pay him. I keep reading that Wallace wants to quit and will do so for the right price.

Right?

that is correct. any money a team gives him upon his retirement is counted against their cap figure.

so, if he says "i'll retire if you pay me $10mil", and whatever team agrees will have that figure counted against their cap. essentially he'll be bought out.