Perk has signed an extension with OKC

[Fafnir]

http://blog.newsok.com/thunderrumblings/2011/03/01/kendrick-perkins-inks-extension/

No details on the length and money yet but it's done!

Where they able to offer him more than the C's because of cap room?

Future cap room doesn't make a difference.

Current cap room can be used to give a player a raise up to the amount the team has under the cap (i.e., a team with $3 million can give one player a $3 million raise) under certain circumstances.  That new salary can then be used as the basis of the extension.

Here, OKC had around $2 million in cap room.  They could have increased Perk's salary this year to around $6.6 million, which means that the extension could start around $7 million per season, and be for up to four years.

So it could be the around 30 million Perkins talked about.

110.5% of 6.6 million = 7.3 million starting salary.

Then .7 Million dollar rasies for each year. So that's 31 million on the extension, plus the original raise of 2 million. So Perkins could have gotten 33 million from OKC.

[Fafnir]

Who's the CBA expert - Roy?

Could the deal be bigger than the C's offer?

I don't believe so, this might just be the result of Perk's feeling betrayed...

In any case, wow

From what I've heard and understood, OKC couldn't offer any more years or dollars than we offered him. So he either took the same amount we offered him or took even less!

See above.  I haven't given this much thought, but I think OKC can give him an immediate raise, and then extend him from there.

My math has his four year extension at 31 million, plus the 2 million raise.

[greenpride32]

Perk is no longer a C now, so who cares?

[Roy H.]

http://blog.newsok.com/thunderrumblings/2011/03/01/kendrick-perkins-inks-extension/

No details on the length and money yet but it's done!

Where they able to offer him more than the C's because of cap room?

Future cap room doesn't make a difference.

Current cap room can be used to give a player a raise up to the amount the team has under the cap (i.e., a team with $3 million can give one player a $3 million raise) under certain circumstances.  That new salary can then be used as the basis of the extension.

Here, OKC had around $2 million in cap room.  They could have increased Perk's salary this year to around $6.6 million, which means that the extension could start around $7 million per season, and be for up to four years.

So it could be the around 30 million Perkins talked about.

110.5% of 6.6 million = 7.3 million starting salary.

Then .7 Million dollar rasies for each year. So that's 31 million on the extension, plus the original raise of 2 million. So Perkins could have gotten 33 million from OKC.

Yep.  And if 4 years, $33-ish million was enough to keep Perk in green long-term, I feel a little bit sick.  I understand the need for cap room, but that's an extremely reasonable deal.

[Fafnir]

Perk is no longer a C now, so who cares?

A lot of us.

[Roy H.]

Perk is no longer a C now, so who cares?

Lots of us.

[fairweatherfan]

http://blog.newsok.com/thunderrumblings/2011/03/01/kendrick-perkins-inks-extension/

No details on the length and money yet but it's done!

Where they able to offer him more than the C's because of cap room?

Future cap room doesn't make a difference.

Current cap room can be used to give a player a raise up to the amount the team has under the cap (i.e., a team with $3 million can give one player a $3 million raise) under certain circumstances (i.e., the player playing on a four year contract).  That new salary can then be used as the basis of the extension.

Here, OKC had around $2 million in cap room.  They could have increased Perk's salary this year to around $6.6 million, which means that the extension could start around $7 million per season, and be for up to four years.

So that'd break down to what - 2 million this year and maybe 32 million for the extension?  Yeah that's a good bit more than we could've paid him.

Well good for Perk, and good for the Thunder.  Best of luck to em...next year.

[Fafnir]

http://blog.newsok.com/thunderrumblings/2011/03/01/kendrick-perkins-inks-extension/

No details on the length and money yet but it's done!

Where they able to offer him more than the C's because of cap room?

Future cap room doesn't make a difference.

Current cap room can be used to give a player a raise up to the amount the team has under the cap (i.e., a team with $3 million can give one player a $3 million raise) under certain circumstances.  That new salary can then be used as the basis of the extension.

Here, OKC had around $2 million in cap room.  They could have increased Perk's salary this year to around $6.6 million, which means that the extension could start around $7 million per season, and be for up to four years.

So it could be the around 30 million Perkins talked about.

110.5% of 6.6 million = 7.3 million starting salary.

Then .7 Million dollar rasies for each year. So that's 31 million on the extension, plus the original raise of 2 million. So Perkins could have gotten 33 million from OKC.

Yep.  And if 4 years, $33-ish million was enough to keep Perk in green long-term, I feel a little bit sick.  I understand the need for cap room, but that's an extremely reasonable deal.

8.25 per year....

But then again Roy that doesn't necessarily mean that Perkins would have only required that much to sign in the off season. He'd have OKC and the C's bidding on him at least. With more competition for his services the price could have easily gone up to 9 or 10 million dollars per year.

OKC could have easily pushed the price up above that for the C's.

[greenpride32]

Perk is no longer a C now, so who cares?

A lot of us.

So he signs an extension, big deal.  What did you think he was going to do, retire because he's not on the Celtics?

His trade meant he was not coming back any time soon.  Just because he signed with OKC doens't mean he can't be traded to an EC team.

Perk is gone, get over it. 

[j804]

Sweet, I'm happy for him....hopefully he's happy.

[Master Po]

well...it's history....it's a rearview mirror stuff....but I drive away feeling like we just kicked out somebody on the I-35 highway full of heart and desire that in the toughest of moments will be greatly missed...you can replace talent but you can't replace heart, desire, and thoe love of TEAM stiving for one goal.

[fairweatherfan]

I did some quick math based on the figures in this thread - assuming each year's salary is 110.5% of the previous year, and Perk's salary for this year went up to 6.6 million, the extension looks like this:

Year 1: 7.293
Year 2: 8.059
Year 3: 8.905
Year 4: 9.840
Total:   34.097 million

Plus the ~2 million raise this year, that's just over 36 million total.  Don't know enough about the rules on extensions to know if this is accurate, but I think Danny would've balked at effectively a $9 million average salary.

[j804]

Perk is no longer a C now, so who cares?

A lot of us.

So he signs an extension, big deal.  What did you think he was going to do, retire because he's not on the Celtics?

His trade meant he was not coming back any time soon.  Just because he signed with OKC doens't mean he can't be traded to an EC team.

Perk is gone, get over it.  

if you can care less about Perk/NBA related news why are you in here?!

[Rondo2287]

Perk is no longer a C now, so who cares?

A lot of us.

So he signs an extension, big deal.  What did you think he was going to do, retire because he's not on the Celtics?

His trade meant he was not coming back any time soon.  Just because he signed with OKC doens't mean he can't be traded to an EC team.

Perk is gone, get over it. 

Just because he is gone doesnt mean that he isnt still relevent.  Also its very relevent to us because part of the reason people are saying perk was traded was because we could'nt resign him this off season.  This gives us more insight into what it would take.  Alot of people care

[clover]

http://blog.newsok.com/thunderrumblings/2011/03/01/kendrick-perkins-inks-extension/

No details on the length and money yet but it's done!

Where they able to offer him more than the C's because of cap room?

Future cap room doesn't make a difference.

Current cap room can be used to give a player a raise up to the amount the team has under the cap (i.e., a team with $3 million can give one player a $3 million raise) under certain circumstances (i.e., the player playing on a four year contract).  That new salary can then be used as the basis of the extension.

Here, OKC had around $2 million in cap room.  They could have increased Perk's salary this year to around $6.6 million, which means that the extension could start around $7 million per season, and be for up to four years.

Love your expertise, Roy--thanks.

Oh, and smart of Presti and Perk.  They get him wrapped up for about 70% of what he might have got on the open market and Perk takes the $30M instead of leaving it at risk of his health.