|
Wednesday, August 24, 2005
Sayson: Amnesty rule’s injustice
By Homer Sayson
Second Overtime
CHICAGO – From a salary standpoint, Dallas captain Michael Finley was looking forward to the best three years of his 10-year NBA career. He was due to receive $15.9 million this upcoming season, $17.3 million in 2006-07, and a nice parting gift of $18.6 million in 2007-08.
But something happened on the way to financial freedom. Last July, the NBA owners and the NBA Players Association agreed on a new, six-year Collective Bargaining Agreement. Under this freshly-minted CBA, the amnesty rule was born, a decree allowing teams a one-time chance to shed fat contracts in the payroll and avoid paying the dollar-for-dollar luxury tax.
When the Aug. 15 deadline for availing of the amnesty rule lapsed, a total of 18 players were waived, saving teams an estimated $212 million. But as stipulated by the amnesty rule, teams are still liable to the salaries of the players they waived, meaning the Mavericks must pay the $51.8 million that was owed to Finley.
That’s the good news.
The bad news is that, unlike other players who will be paid according to the time frame of their existing contracts, Finley will not get his $51.8 million in three-year increments of $15.9 million, $17.3 million and $18.6 million.
That’s because a “spread provision” in his contract allows the Mavericks to pay their dearly departed guard annual installments of less than $5 million, reports ESPN.com.
Getting $51.8 million in at least 10 years is quite a pension, but with human beings inherently insatiable, Finley, I’m sure, would rather get his money now, not a decade later. That’s why lottery jackpot winners often choose a lump sum even though it’s a significantly lesser payout than a 20-year installment.
When news of Finley’s waiving first trickled in, the notion was that his choice of which team to play next would not involve a financial decision. But as we learn that he will receive no more than $5 million from the Mavs next season, it’s become more plausible that money will indeed be factored in as he mulls on his future.
Having said that, Miami remains in the forefront of the Michael Finley free-agency derby.
Miami team president Pat Riley and Stan Van Gundy visited Finley here in Chicago yesterday. While inhaling the wonder of a splendid summer day in this Windy City, you can bet that the Heat’s top brass reminded Finley that only Miami can offer him the full $5 million mid-level salary exception.
Detroit also has $5 million to spare, but since the Pistons will reportedly sign veteran Dale Davis soon, capacity to lure Finley with more money is dramatically reduced. San Antonio and Phoenix are ardent suitors, too, but they can only dangle $2.5 million and $1.1 million, respectively.
Finley’s previous salary was $14,609,375. And so yes, Miami’s $5 million may not be much for him, but playing with Shaq and Dwayne Wade is priceless.
EMAILS. From Irving Padillo (smyfp02@yahoo.com): “Vince Carter was given the Community Assist Award. Why is this kind of award not given in the PBA? And why is the PBA in crisis?”
I used to remember the PBA handing out such community-related awards. If they don’t anymore, I don’t know why.
While covering the Pacquiao-Morales fight last March at the MGM in Las Vegas, I had a lengthy chat with PBL chairman Chino Trindad about what ails the PBA besides an eroding fan base. Unfortunately, I swore to keep that conversation private.
From Alfie Arcayan (alf_arcayan@yahoo.com): “Iverson, Marbury, Francis and other small guards wear jersey #3, while power forwards such as Kevin Garnett and Tim Duncan wear 21. But the most common among big guys is #34 or #32.
Are they coincidences, or are there reasons?”
I don’t have the specific details why Iverson, et al. are wearing the numbers they wear, but I can tell you that when players pick a jersey number to don, their reasons are usually personal, sentimental, or inspirational in nature.
Finally from Jim Christian Akiatan (jcatruman@yahoo.com): “My officemates Michael Gerodias and Ian Cayme tell you that you’re the best analyst in the NBA.”
Really? In that case, JCA, tell Michael and Ian that their judgment is being vehemently contradicted by my critics.
(homsay@hotmail.com)
(August 24, 2005 issue)
Write letter to the editor. Click here.
Join the Sun.Star message board. Click here. |
|
[return to top]
[home]
[network page]
|
LOCAL NEWS
BUSINESS
OPINION
SPORTS
LIFESTYLE
FEATURE
SUPERBALITA
WEEKEND
|
