Boston's MLE?

[winsomme]

anybody know what the deal is with our MLE. I read this bit:

BOSTON -- Stephon Marbury will earn $1.2 million from the Boston Celtics over the remainder of the NBA season, ESPN.com learned Friday.

A source with knowledge of league finances told ESPN.com that Boston used $1.2 million of the $2.4 million it had remaining from the midlevel salary exception. Marbury's salary will not be prorated, meaning he will earn $52,174 for each of Boston's remaining 23 regular season games.

Previous reports in various media outlets stated that Marbury would be playing for a prorated version of the NBA minimum salary, which would amount to less than a half-million dollars.

In actuality, under a deal negotiated by National Basketball Players Association attorney Hal Biagas, Marbury will be making more than double that amount, offsetting part of what Marbury gave back to the Knicks from his $20.8 million New York salary in his buyout earlier this week. Marbury does not have an agent, and Biagas represented him in his dealings with Knicks president Donnie Walsh.

The Miami Heat also were interested in signing Marbury, but the Heat could not compete with Boston's financial offer without going over the luxury tax threshold.

The Celtics still have $1.2 million of their midlevel exception to use this season, and they will have a $1.8 million biannual exception available in the offseason because they did not use it in 2008-09.

does anybody have breakdown of how the money was spent and how much is left?

if we have 1.2mil left, we certainly could go after whoever comes available today....

[Roy Hobbs]

Here's what I wrote in response to your post in the Gooden thread:

It's hard to say, because reporting isn't always accurate.  The report I heard was that we gave Starbury $1.2 million, in actual money (i.e., not $1.2 million of the remaining MLE, which would have been prorated.)

However, here's how I understand it:  We had $2.392 million of the MLE, before any prorating.  The amount that we had left was decreased by roughly 50/180ths (one 1/180th for every day after January 10th).  That leaves about $1,727,555.56 available.  Assuming that we really gave $1.2 million to Starbury, that leaves us just about $500k to give to a free agent.

$500,000 does us no good.  After prorating the minimum salary, Gooden would be paid about $772,863 on a minimum deal, Smith would earn roughly $911,643.06 (again, these calculations assume a prorating of 50/180ths.)

I'm still wondering why Starbury was given a salary for $1.2 million. 

[Roy Hobbs]

The more I look at that report, it just looks inaccurate.

It seems to suggest "The Celtics had $2.4 million.  They paid Starbury $1.2 million, meaning they have $1.2 million left".

That's inaccurate.  As mentioned above, the $2.4 million we had left is pro-rated downward, meaning we had $1.73 million left to offer.

Also, a pro-rated share of the NBA minimum for Starbury would have been around $900,000, rather than "less than half a million dollars".

[Fafnir]

The more I look at that report, it just looks inaccurate.

It seems to suggest "The Celtics had $2.4 million.  They paid Starbury $1.2 million, meaning they have $1.2 million left".

That's inaccurate.  As mentioned above, the $2.4 million we had left is pro-rated downward, meaning we had $1.73 million left to offer.

Also, a pro-rated share of the NBA minimum for Starbury would have been around $900,000, rather than "less than half a million dollars".

Decent chance we either gave him our full MLE left or that the report is complete BS.

[ToppersBsktball10]

yeah but we'd probably have to get rid of someone else