Going into next season, the Nets will owe $51.790 million to 10 players, assuming that Nenad Krstic accepts the $2.762 million qualifying offer rather than a long term contract and that Swift doesn't exercise his player's option of $6.2 million. That figure doesn't include cap holds necessary for Boki Nachbar, Desagana Diop and the two first round draft picks. As a result, the Nets will not be under the cap, which should be around $57 million. Without the Kidd trade, the Nets would have been looking at $63.407 million owed to eight players, again assuming Krstic accepted a qualifying offer. The Nets' highest paid players will be, barring a trade, Vince Carter at $15.2 million, Richard Jefferson at $13.2 million and Devin Harris at $7.8 million. Swift, if he does not exercise his player option, will be next at $6.2 million. This season, the deal pulled the Nets back from the brink of the luxury tax. Assuming the Nets were able to buy out Jamaal Magloire for what they had already paid him --around $3 million out of $4 million-- the Nets are currently about $7.7 million under the luxury tax threshhold of $67.865 million. On February 1, they were right at the threshold, probably within a couple of hundred thousand dollars, at most, after having to pay Eddie Gill and Billy Thomas nearly $260,000. Trading Jason Collins for Stromile Swift gave them a little more of a cushion. There was a small disparity--$450,000--between the two players' salaries. Then, the Nets saved $6.413 million in the Jason Kidd trade even with the $4.3 million demanded by Keith Van Horn. (The Nets took in $15.765 million in salary and sent out $22.178 million.) The Nets also received $3 million from the Mavs in cash considerations in the Kidd deal, but sent an unknown amount to Memphis in the Collins deal...probably equal to the difference in salaries. The team had also sent an unknown amount to the Hornets in October to balance the David Wesley-for- Bernard Robinson and Mile Ilic trade. That was a salary dump since Wesley was owed a guaranteed $250,000 on a $1.75 million contract and Robinson and Ilic were owed $1.95 million. So assume the cash in that deal was equal to the difference or $1.7 million. By staying under the luxury tax threshold, the Nets will be eligible for a payout from the league. Once the luxury taxes are collected, they are dispersed to the teams who were frugal enough to stay under the tax threshold. In the Nets case, that should amount to about $2.5 million this year.
<div class='quotetop'>QUOTE (NetIncome @ Mar 15 2008, 10:44 AM) <{POST_SNAPBACK}></div><div class='quotemain'>As a result, the Nets will not be under the cap, which should be around $57 million.</div>
Interesting. I still think it sucks that so much money is tied up to two players who aren't as good as they used to be.
I don't see how you can describe a 27-year-old who is having his best year statistically as someone who is not as "good as he used to be".
30 mil for those two. The problem with our roster right now is it's only going to go up. Sean, Boone and Marcus will soon need to be paid on top of Krstic and with Carter and Jeffersons contract, who can we really sign when we have Devin locked up for awhile as well?
