Well according to Steven A. Smith the three superstars, who also happen to be best friends have been sharing information the past couple days. Lebron’s agent supposably found a loop whole where instead of him signing a five-year deal he would sign a three-year deal with a one-year option. So that then the players could sign a contract in excess of 150 million dollars. Lebron has agreed to a four year contract and an option to become a free agent after the third season as opposed to a five year deal according to Steven A. No word on Wade and Melo yet.
I just saw this on SportsCenter. Nice catch by 'Bron's agent. So, no only will LeBron cash in big now, he's gonna cash in even bigger in a few years.
LBJ and Wade deserve that kind of money, they're responsible for reviving the NBA. I doubt Melo sees that kind of money, however.
This also gives Lebron an edge, because if Cleveland doesn't end up being big in the East, he could always opt out after three years and goto a better team instead of having to wait it out for 5 years. Same applies to Wade if he decides to use this loophole, because quite frankly, i think the Heat will be 4-8 seed after the departure of Shaq, Mourning and Payton
They already have enough money. LeBron makes more on his shoe deal then he does on his contract, and I'm guessing Wade and Melo don't make close to LeBron's shoe deal on their's. But, they still make more then enough money.
<div class="quote_poster">Quoting SP23:</div><div class="quote_post">They already have enough money. LeBron makes more on his shoe deal then he does on his contract, and I'm guessing Wade and Melo don't make close to LeBron's shoe deal on their's. But, they still make more then enough money.</div> So your telling me that if someone offered you $2,000,000 and someone else offered you $1,000,000 that you would take the second offer? These guys are just making the most money they can so that they will be set for life along with their present family and family members generations from now. The NBA is a business and if you can get that much money, why wouldn't you?
<div class="quote_poster">Quoting Swish15:</div><div class="quote_post">So your telling me that if someone offered you $2,000,000 and someone else offered you $1,000,000 that you would take the second offer? These guys are just making the most money they can so that they will be set for life along with their present family and family members generations from now. The NBA is a business and if you can get that much money, why wouldn't you?</div> Exactly what I have been saying for the last week no matter how much money you have your always going to try to make more. There is a reason Bill Gates still has money invested in so many stocks despite being a billionaire.
But, he's not going to give his kids all the money, lol I would be pissed if I was them... I understand what you guys are saying, and I would do the same thing. You have to know your still going to be great to get a max contract then, and LeBron will be in his prime then so it's a good move by his agent/him.
This is the same thing Tim Duncan pulled when he was out of his rookie contract. Signed a three-year deal to cash in later. Nothing extraordinary, but if any of these guys blow out their knees during that three year span, they'll be out a lot more money. They'd be taking a risk, but one that would pay well if nothing happened.
Why does Wade and Melo's name have to be dragged through mud just because LBJ is trying to cash in a big(ger) pay day?
<div class="quote_poster">Quoting Heat4Life:</div><div class="quote_post">Why does Wade and Melo's name have to be dragged through mud just because LBJ is trying to cash in a big(ger) pay day?</div> ESPN reported the three are best friends and have been sharing this information, which explains why their names are in the thread title, and main post.
Update, Wade and Melo both signed 5 year deals already, so only LeBron has taken advantage of this loophole. Genius find by his agent, should be interesting to see how many other players go this route before the league makes an amendment to prevent this.
Melo now considering shorter deal in light of LeBron talk <div class="quote_poster">Quote:</div><div class="quote_post">LAS VEGAS -- Carmelo Anthony will apparently consider signing a contract extension with the Denver Nuggets similar to the deal LeBron James intends to sign with Cleveland. Anthony was weighing various contract lengths Monday night, according to sources close to the forward, sparked in part by Sunday's ESPN report that James plans to sign a three-year deal with the Cavaliers with a player option for a fourth season. James reportedly prefers the shorter contract to the maximum five-year extension worth an estimated $80 million. Anthony committed to signing an extension with the Nuggets mere hours after the NBA's free-agency period commenced on July 1. He can officially sign the deal as early as Wednesday, which is the first day NBA teams can officially sign free agents and complete trades after the salary cap is set for the 2006-07 season. Earlier Monday, one of Anthony's agents indicated that the forward favors the original five-year plan. Bill Duffy called Anthony's future in Denver and James' conditions in Cleveland "two different situations." Anthony echoed those sentiments in Tuesday's editions of the Rocky Mountain News, which quotes the 22-year-old as saying his preference is a full five-year extension with the ability to opt out after Year 4 and become an unrestricted free agent. "Of course, I would want an option year," Anthony told the newspaper during a break at his annual basketball camp in the Denver area. "That's what we're negotiating right now." Anthony also told the paper that he, James and Miami's Dwyane Wade have remained in contact with each other as all three prepare to sign lucrative extensions. "We're a group," Anthony said of the trio, all taken in the top five of the 2003 draft. "No matter if we're on different teams or whatever, we're still together." Anthony, James, Wade and Toronto's Chris Bosh all received maximum extension offers from their teams minutes into the free-agent period on July 1. The longest and richest deal those players can receive is the five-year extension worth about $80 million, with the exact value to be calculated in July 2007 when the salary cap for the 2007-08 season is established. James, though, is interested in signing only a three-year contract with the Cavaliers, according to ESPN's Stephen A. Smith, with a player option for a fourth season. The total package would be worth closer to $60 million if James played all four seasons in Cleveland. The shorter arrangement James prefers would potentially leave some $20 million in guaranteed money on the table but would also provide potential benefits, especially given James' unquestioned ability to recoup that money in the endorsement market. The biggest benefit would be that becoming an unrestricted free agent after three seasons would enable James, an Ohio native, to see how close the Cavs can get to championship contention before making an extended commitment to his hometown team. Tim Duncan followed a very similar path in San Antonio in the summer of 2000, flirting with a lucrative free-agent offer from Orlando before ultimately signing a three-year extension to stay in South Texas. The Spurs' franchise power forward decided he wanted to see how the club would weather David Robinson's retirement in the summer of 2003. Robinson went out as a champion after the Spurs beat New Jersey in the 2003 NBA Finals and Duncan, who by then could claim Tony Parker and Manu Ginobili as teammates, signed a seven-year deal worth in excess of $120 million. Under the terms of his expected deal with the Cavaliers, James would have the right to become an unrestricted free agent after the 2009-10 season. It remains to be seen whether Anthony would follow suit or opt for the greater financial security of a five-year agreement, which would potentially keep him in Denver through the 2011-2012 season. If Anthony gets the option he wants, he could become an unrestricted free agent in the summer of 2011. Wade and Bosh have both stated publicly that they intend to sign extensions with their respective teams this month. Henry Thomas, who represents both players, could not immediately be reached for comment about whether Wade and Bosh prefer the five-year plan or something shorter. </div> Source
Wade expected to mimic LeBron, sign shorter deal <div class="quote_poster">Quote:</div><div class="quote_post">Dwyane Wade could be following LeBron James' lead. Wade, who reportedly agreed to a five-year, $80 million max extension with the Miami Heat last week, is instead expected to sign a three-year deal with a player option for a fourth season, ESPN The Magazine's Ric Bucher reported Tuesday. Earlier this week, sources told ESPN's Stephen A. Smith that James had agreed to a three-year extension worth approximately $60 million, with a player option for a fourth season (rather than what was reported earlier as James being able to opt out of a four-year deal). On Monday, ESPN.com's Marc Stein reported that Carmelo Anthony was also considering signing a contract extension with the Denver Nuggets similar to the deal James intends to sign with Cleveland. Wade is under contract for next season with the Heat, who will try to defend their first NBA championship. Wade has repeatedly said he wants to stay in Miami. Other than coach Pat Riley saying that getting Wade to agree to an extension is Miami's top offseason priority, the team has not commented on the negotiation process. Wade was the fifth pick in the 2003 draft, and his rise to stardom was quick. He averaged a career-best 27.2 points during the regular season, making 49.5 percent of his shots, plus averaging 6.7 assists and 5.7 rebounds. In the playoffs, he was even better, averaging 28.4 points -- and 34.7 in the NBA Finals, when he led the Heat past the Dallas Mavericks in six games.</div> Source
<div class="quote_poster">Quoting Swish15:</div><div class="quote_post">So your telling me that if someone offered you $2,000,000 and someone else offered you $1,000,000 that you would take the second offer? These guys are just making the most money they can so that they will be set for life along with their present family and family members generations from now. The NBA is a business and if you can get that much money, why wouldn't you?</div> Reggie Miller, Karl Malone, John Stockton, Patrick Ewing. Ask them wether they would take the money or a championship. Gary Payton was bouncing around everywhere just to get a ring. He finally got one, same with Zo. Lebrons already gota 200 million dollar Nike deal, why would he even care about gettin 14 or 15 million a year. The one thing he should focus on, and i think is by letting his agent handle his contract, is working towards a championship. This three year deal gives him major flexibility. If cleveland end up going south, then he can get out of there and go to a team with a chance. atm id look at chicago the way theyre goin lol
<div class="quote_poster">Quoting Heat4Life:</div><div class="quote_post">Why does Wade and Melo's name have to be dragged through mud just because LBJ is trying to cash in a big(ger) pay day?</div> And now all three have signed three year contracts.
<div class="quote_poster">Quoting bball_spida:</div><div class="quote_post">Reggie Miller, Karl Malone, John Stockton, Patrick Ewing. Ask them wether they would take the money or a championship.</div> How old were these players when they took paycuts to win a championship? They were all old veterans who just wanted a ring to finish off their career. They had already gotten tons of money throughout their entire careers when they were in their primes and they saw their window closing so they took less money to be on a good team. Don't compare old players who are past their prime to up and coming superstars who haven't signed their first contract extension yet.[/QUOTE] <div class="quote_poster">Quoting bball_spida:</div><div class="quote_post">Gary Payton was bouncing around everywhere just to get a ring. He finally got one, same with Zo.</div> Gary Payton was a superstar for 10+ years and made tons of money before he took a paycut to win a ring. He is 37 years old while LeBron is only 21. If LeBron wants to take a paycut to win a ring, it would be when he is past his prime and much older. Same goes for Alonzo Mourning. He took a paycut to win (and partly because he was hurt and nobody knew how he would perform). He was old and way past his prime. <div class="quote_poster">Quoting bball_spida:</div><div class="quote_post">Lebrons already gota 200 million dollar Nike deal, why would he even care about gettin 14 or 15 million a year.</div> It's human nature to make as much money as you can. From the time your a kid and someone dares you to do something for $1, your going to try and get more. LeBron James is cashing because your only worth as much as someone is willing to pay. If the Cavaliers are willing to offer him a max contract, then of course he is going to take it. If someone like Tyson Chandler can get the max, so can LeBron who is arguably the best player in the NBA. <div class="quote_poster">Quoting bball_spida:</div><div class="quote_post">The one thing he should focus on, and i think is by letting his agent handle his contract, is working towards a championship.</div> He can work towards a championship without throwing away money.
Wow, they're going to be making over like 20 mil a year once they get their new deals. Hopefully their teams won't be able to sign anyone else good lol. BTW, did Melo sign a 4 year deal with a 5th year option... Since LeBron signed a 3 yr with the 4th an option?
