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View Full Version : Note: Rasheed Wallace's Contract Will Still Count Against Boston's Salary Cap



R_O_W_E
06-30-2010, 10:02 AM
I am getting tired of clearing this up. You would think more people would understand when they see guys retire from a team.


The contract remains on Boston's books but Sheed wont be getting paid. Boston can remove Sheed from their books by buying him out, or trading his contract elsewhere.


Boston does not get instant cap relief from Rasheed Wallace retiring. His contract was guranteed.

IAmKira
06-30-2010, 10:12 AM
LOL @ Booty Warrior

Now u wanna do it the easy way or the hard way? :P

R_O_W_E
06-30-2010, 10:16 AM
LOL @ Booty Warrior

Now u wanna do it the easy way or the hard way? :P

"They Call You Chris Hanson.....I Prefer To Call You Chris Handsome"


:laugh2:


Booty is more important than freedom.

h2r09
06-30-2010, 10:17 AM
Im pretty sure this is completely wrong. When a player retires that players salary is gone and the player doesnt get paid.

nrwskinny
06-30-2010, 10:31 AM
The players comes off the books when he retires only when he files his paperwork with the league..otherwise they still have to pay him. See Chris Webber and Allan Houston.

YankeesR#2
06-30-2010, 10:31 AM
Im pretty sure this is completely wrong. When a player retires that players salary is gone and the player doesnt get paid.

Sad to say he is correct. (or the article where I read it is incorrect)

The deal is that if they buy him out his salary doesn't count against the salary cap but if just doesn't play (retires) they don't have to pay him but his salary counts against the salary cap.

sully00
06-30-2010, 10:35 AM
It is a little more complicated than the OP wants to make it. Sheed can file his retirement papers basically voiding his contract, which would take the money off the cap.

But that isn't what Boston's plan is/was the expected Pierce to take his option. Sheed had a trade kicker and a player option, so by trading Sheed with two non guaranteed minimum salary players they can take back almost 10.5 mil in salary and the team he is traded to would have to pay nothing or a small buyout to Wallace. I believe Boston knew Wallace's deal was always for one year and the rest of his contract was structured for this purpose as was the signing of two random players in the last week of the season.

While Boston can do it 15-16 mil in cap space but losing your two leading scorers and having 5 guys on your roster is not a recipe for success.

Kakaroach
06-30-2010, 10:36 AM
Yes, Rowe is right. Thats why it kind of sucks when people that are signed for longer than 1 year decide to retire. It may be prove to be a good trade chip in 2 years though.

YankeesR#2
06-30-2010, 10:37 AM
"Even if Wallace walks away from the final two years of his contract, that money still counts against the Celtics’ salary cap unless they reach a settlement."

http://www.boston.com/sports/basketball/celtics/articles/2010/06/30/pierce_opts_out_of_final_year/

Here is the link

R_O_W_E
06-30-2010, 10:40 AM
It is a little more complicated than the OP wants to make it. Sheed can file his retirement papers basically voiding his contract, which would take the money off the cap.

But that isn't what Boston's plan is/was the expected Pierce to take his option. Sheed had a trade kicker and a player option, so by trading Sheed with two non guaranteed minimum salary players they can take back almost 10.5 mil in salary and the team he is traded to would have to pay nothing or a small buyout to Wallace. I believe Boston knew Wallace's deal was always for one year and the rest of his contract was structured for this purpose as was the signing of two random players in the last week of the season.

While Boston can do it 15-16 mil in cap space but losing your two leading scorers and having 5 guys on your roster is not a recipe for success.

If Sheed voids his contract he walks away from $13 Million.

Sheed walking away from all of his $13 Million has as much of a chance of happening as Adam Morrison making $13 Million in his next contract.

R_O_W_E
06-30-2010, 10:42 AM
Yes, Rowe is right. Thats why it kind of sucks when people that are signed for longer than 1 year decide to retire. It may be prove to be a good trade chip in 2 years though.
True. It will be a good trading chip in a year as an expirer.

He may just un-retire. How many times have we seen it happen? Some guys are so burned out after the season, then go home and realize their entire life revolves around basketball. Unless he gets a coaching job somewhere, he might end up coming back.

Focused1
06-30-2010, 10:49 AM
Guess This wasn't a easy clear up was it :confused:

stripersniper77
06-30-2010, 11:07 AM
his contract is very valuable though. The can either buy him out and get cap space or trade his value to another team for a valuable player and that team could get instant cap space by buying out sheed. Lets say miami is dead set on getting rid of beasley but only to get cap space they could deal for sheed's contract and then just buy it out for more cap space, i dont think this is really even a possibility though. Or maybee deal for gilbert areanas, also not likely, because although sheeds deal doesnt cover gilberts boston has enough cap space to absorb the contract and still bring back pierce, using his bird rights and going over the cap.

ManRam
06-30-2010, 11:08 AM
When he retires, he is going to void his contract and take a buyout, and it will save the Celtics the money. NBA contracts are fully guaranteed. A team can never decide not to pay you, and simply cut you (like in the NFL). But, Sheed isn't going to ask for his full salary. All the sources I've seen say that there will be a buyout negotiated, which would wipe his salary off the books. The Celtics, who now have Pierce off the books (temporarily is my guess), now have about $25 million in cap space.

The trade possibility is there too...

But the point is, he provides them about 6-7 million in cap relief either way.


You are right ROWE, but it's kind of pointless. They are going to be off the hook for his contract either way.

R_O_W_E
06-30-2010, 11:18 AM
When he retires, he is going to void his contract and take a buyout, and it will save the Celtics the money. NBA contracts are fully guaranteed. A team can never decide not to pay you, and simply cut you (like in the NFL). But, Sheed isn't going to ask for his full salary. All the sources I've seen say that there will be a buyout negotiated, which would wipe his salary off the books. The Celtics, who now have Pierce off the books (temporarily is my guess), now have about $25 million in cap space.

The trade possibility is there too...

But the point is, he provides them about 6-7 million in cap relief either way.


You are right ROWE, but it's kind of pointless. They are going to be off the hook for his contract either way.

A buyout wont wipe his salary completely off the books. With 2 years left on his contract, the salary he negotiates for a buyout carries over each season remaining. I had to look it up. You can't buy a player out of a multi year contract and clear it off in 1 year. It counts over the length of the original contract. Take a look at Jamaal Tinsley's buyout with Indy. He'll make $5.5 Million with Indy this upcoming season.

I doubt Sheed will take as much back in a buyout but it isn't instant cap relief because he has a fully guranteed contract. There are some contracts that are partially unguranteed that allows for instant cap relief. We've seen Dooling, Jones, & Gomes released due to it.

sully00
06-30-2010, 11:19 AM
Here is the details from Larry Coon whose job is to make english out of the CBA.

http://www.hoopsworld.com/Story.asp?story_id=16636

Wallace has said that he is done, he can't get paid if he doesn't come to work not even in the NBA. He has not filed his papers as a favor to the C's so they can trade his contract like I said I believe this was all prearranged when signed his contract a year ago.

sully00
06-30-2010, 11:22 AM
Wallace is worth more as a trade asset, 10.5 mil, than he is in cap relief 6.3 mil and Boston having to renounce 8 players to get under the cap, that isn't going to happen.

still1ballin
06-30-2010, 11:44 AM
Good news