<div class="quote_poster">Quote:</div><div class="quote_post"> Allan Houston has scheduled a 4 p.m. news conference today to announce his retirement. Houston, who has appeared in just 70 games over the past two seasons due to chronic knee pain, was the last Knicks? player still on the roster from the team that reached the NBA Finals in 1999. Houston, 34, spent 12 seasons in the NBA including the last nine with the Knicks. He finishes with a career average of 17.3 points including a 19.3 ppg., average in 63 playoff games. Houston was to earn $40 million over the final two years of his contract</div> Sourcehttp://www.nydailynews.com/front/breaking_news/story/356552p-303921c.html
not a knicks fan but there is a god. he has ben robbing the knicks and nba of millions. he was overpayed from the door. he had some productive years but he was not a franchise player. peace out and good luck
wow Yeah, just saw this on ESPN bottom line. I feel good that the knicks will have more cap flexability but it is still saddening to see him go...
ugh...I'm depressed, I don't even remember his final game, what a terrible ending to his career. Good luck to him and his family, but I really hate to see such a good guy go.
<div class="quote_poster">Quoting JWohl:</div><div class="quote_post">Yeah, just saw this on ESPN bottom line. I feel good that the knicks will have more cap flexability but it is still saddening to see him go...</div> How does it give the Knicks more cap flexbility? If a player retires (even if it's from injury) the team is still responsible to pay two years worth of the remaining contract. Houston's contract ends in two years, so they save nothing in regards to salary cap or luxury tax.
<div class="quote_poster">Quoting shapecity:</div><div class="quote_post">How does it give the Knicks more cap flexbility? If a player retires (even if it's from injury) the team is still responsible to pay two years worth of the remaining contract. Houston's contract ends in two years, so they save nothing in regards to salary cap or luxury tax.</div> Isn't it true that under the new Allan Houston rule a teram thathas a player retire saves the money off the luxury tax? I thought that was some other part of the Allan Houston rule, if a guy retires the team is relieved of the luxury tax. I could be wrong though. Thank goodness he finally let go and retired, I was sick and tired of hearing about all of his comebacks and everything. He hasn't been a physical player in like six or seven years, he can't play anymore. Thanks for the memories, Houston.
I think you guys should be more grateful for what Houston has meant to this organization. Sure, he isn’t worth 100 million, but what sane person would reject a 100 million dollar contract? Without Houston, the Knicks wouldn’t be where they are today plain and simple. They wouldn’t have gone to the Finals in ’99 or the Conference Finals the year after for that matter. Show a little some appreciation, fellas.
<div class="quote_poster">Quoting MrJ:</div><div class="quote_post">I think you guys should be more grateful for what Houston has meant to this organization. Sure, he isn’t worth 100 million, but what sane person would reject a 100 million dollar contract? Without Houston, the Knicks wouldn’t be where they are today plain and simple. They wouldn’t have gone to the Finals in ’99 or the Conference Finals the year after for that matter. Show a little some appreciation, fellas.</div> Who here hasn't been appreciative? I think it's clear that everyone here thinks that Houston was a great player for us for some years. But face the facts - he lost his game with his injuries down the road.
<div class="quote_poster">Quoting Knicks Analyst:</div><div class="quote_post">Isn't it true that under the new Allan Houston rule a teram thathas a player retire saves the money off the luxury tax? I thought that was some other part of the Allan Houston rule, if a guy retires the team is relieved of the luxury tax. I could be wrong though. Thank goodness he finally let go and retired, I was sick and tired of hearing about all of his comebacks and everything. He hasn't been a physical player in like six or seven years, he can't play anymore. Thanks for the memories, Houston.</div> They used the Amnesty cut on Jerome Williams, you only get one.
^I think because Isiah can't trade Houston away like he's an expiring contract the Knicks will save money.
<div class="quote_poster">Quoting shapecity:</div><div class="quote_post">They used the Amnesty cut on Jerome Williams, you only get one.</div> I realize that. But I thought in addition to that, you can also save money off (luxury tax) of a retiring player's contract. I guess I was wrong.
<div class="quote_poster">Quote:</div><div class="quote_post">51. How do retired players count against the cap? Any money paid to a player is included in team salary, even if the player has retired. For example, James Worthy retired in 1994, two years before his contract ended. He continued to receive his salary for the 94-95 and 95-96 seasons, so his salary was included in the Lakers' team salary in those seasons. It is at the team's discretion (or as the result of an agreement between the team and player) whether to continue to pay the player after he has retired. There is one exception whereby a player can continue to receive his salary, but the salary is not included in the team's team salary. This is when a player is forced to retire for medical reasons and a league-appointed physician confirms that he is medically unfit to continue playing. There is a waiting period of two years (if the injury or illness occurred between January 1 and July 1) or until the second July 1 following the injury or illness (if it occurred between July 1 and January 1) before a team can apply for this salary cap relief. If the waiting period expires mid-season (on any date prior to the last day of the regular season), then his entire salary for that season is removed from the team's team salary. For example, Luc Longley suffered a career-ending injury in March 2001. In March 2003, the Knicks were allowed to remove his entire 02-03 salary from their books (and since the luxury tax is based on the team salary as of the last day of the regular season, the Knicks avoid paying any tax on Longley's salary). There is also some luxury tax relief associated with disabled players -- see question number 15 . If a player retires, even for medical reasons, his team does not receive a salary cap exception to acquire a replacement player. </div> Source There it is. The Knicks don't get salary cap relief, because the benefits don't go into effect until 2 years. Houston's contract ends in 2 years. <div class="quote_poster">Quote:</div><div class="quote_post">The league did decide to credit teams that pay luxury tax for players who have been ruled permanently disabled. There is a one-year waiting period following the player's injury or illness. The credit is in the amount of the Disabled Player Exception (half the player's salary, or the average salary, whichever is less -- see question 22 for the definition of "average salary") and is subtracted from the team's luxury tax payment. This prevents a form of double jeopardy, where a team would otherwise have to pay tax on an injured player's salary, and also on his replacement's. Interestingly, if the injured player is traded before he is deemed permanently disabled, then neither team receives the credit. This credit is subject to readoption on a year-to-year basis.</div> The Knicks might save luxury tax, but it will only be for the final year of Houston's contract, and it has to be approved by a league physician that Houston is retiring because of medical reasons. And it's only for half his salary. The Knicks would have been better off using the Allan Houston rule on Allan Houston.
In a sense, Houston picked a terrible time to retire. If he retired early, NY may have exercise Houston rules on Houston and save tons of luxury tax. However, NY used the exception on James instead and I believe NY have to pay Houston's luxury tax portion...
Im glad he chose to call it an end. It sux that this is the way he leaves but the Knicks need to move on. In my opinion we should've dealt him and kept Spree but thats not the how thing turned out.
<div class="quote_poster">Quoting Kwan1031:</div><div class="quote_post">In a sense, Houston picked a terrible time to retire. If he retired early, NY may have exercise Houston rules on Houston and save tons of luxury tax. However, NY used the exception on James instead and I believe NY have to pay Houston's luxury tax portion...</div> Inusrance will pay for a good part of his deal, but he still counts against the tax. We used the amnesty on Jerome Williams, not James.
<div class="quote_poster">Quoting Knicks Analyst:</div><div class="quote_post">Inusrance will pay for a good part of his deal, but he still counts against the tax. We used the amnesty on Jerome Williams, not James.</div> Yeah, Williams, not James. Yeah, I believe 85% of his salary will be covered by insurance. but, if NY waived Houston via Houston rule, they could have saved nearly 40 mils, insetad of 12.5 mils from Williams. But then, it doesn't look like money is a big issue for NY so...
<div class="quote_poster">Quoting Knicks Analyst:</div><div class="quote_post">Inusrance will pay for a good part of his deal, but he still counts against the tax. We used the amnesty on Jerome Williams, not James.</div> Insurance may or may not pay. The Knicks are counting on it, but there's no guarantee yet. I think Dolan and Houston discussed a buyout if Houston ended up retiring. They are close friends, and I remember reading a blurb about this. Dolan did Houston a favor by not using the Amnesty on him, and Houston agreed to a buyout if he wasn't able to play again.
<div class="quote_poster">Quoting shapecity:</div><div class="quote_post">Insurance may or may not pay. The Knicks are counting on it, but there's no guarantee yet. I think Dolan and Houston discussed a buyout if Houston ended up retiring. They are close friends, and I remember reading a blurb about this. Dolan did Houston a favor by not using the Amnesty on him, and Houston agreed to a buyout if he wasn't able to play again.</div> I hope to G-d that insurance will pay, or I hope there was a buyout. Thanks for that bit of info, shapester.
I'm gonna miss watching Houston and his shot that was in my eyes almost as near perfect as you could get it, it was money just like Reggies from almost anywhere. Sad to see him go and I wish Reggie didnt leave either.
