Ugh. Well, I guess the Nets will never have cap space and the Russian billionaire can afford to overpay.
That's about $10 million a year too much for my liking, but then again Prokhorov made $10 million while I was typing this post.
So you think Lopez is about a 3 million a year player?
No, I don't. Why do you ask?
Well, the starting amount of the contract is MAX $12,922,194, so we'll have to see what the details of this agreement is.
But for the time being, he'd be making that amount next season.
No, the maximum for a player of his experience is 25% of the cap. Which is 14.5 million this season. And he is eligible for 7.5% annual raises. Which gets him in the 18 million range by the end of the deal.
It's not exactly 25% of the cap, it ends up being lower. And considering that the cap remained unchanged from last year from what I'm seeing, then the maximum salary should be the same I'd say, so: $12,922,194.
I'll have to await the details, and see how the annual raises factor into it.
Woj says it is 5 for 78. And you should also be aware that the first year of the contract is almost always smaller than all future years. It will be bigger in Year 2, 3, 4, and potentially 5.
I don't know how they'll arrive at 78, will have to look on how he gets a bump in that final year.
But for 4 at 58 million is also being discussed. That's a 4th year at 16 million, and ends up being 14.4 a year while the 5 year one puts it in 15.6 million a year.
Regardless, I was poking a bit fun at your 10 million a year too much, it's all good.
I think he's worth the Max at this stage of his career and the current make-up of the Nets. They already got the star players under contract, a good time to solidify your team with a center of this caliber (as much as I don't care for Lopez).
Player worth is always circumstantial, and it's why I don't pay too much attention to it, other than how it applies to that particular team's situation, and in this situation, a max contract for Lopez is the way to go.
Below is from Larry Coon's Salary Cap FAQ, which was just uploaded. You were right on the 12.9 and it being less than 25% of the cap. It looks like they upped the max for 2012-2013 though, probably due to the lockout, to start at 13.6 (a 5.8% increase).
They use a different cap calculation to determine the maximum salaries, which is based on 42.14% of projected BRI rather than 44.74%. For this reason, the maximum salaries are not actually 25%, 30% or 35% of the cap, and instead are a slightly lower amount. For example, even though the salary cap for 2011-12 is $58.044 million and 25% of this amount is $14.511 million, the 0-6 year maximum salary is actually $12,922,194. In addition, for 2012-13 a 5.8% increase in maximum salaries was agreed to, even though the salary cap stayed the same as 2011-12.
I see your point on locking up a Center, and even though I think it is an overpay, it won't hurt Brooklyn. They'll be over the cap regardless of Brook and have a billionaire owner and he fills one of their few missing positions.
But is it wise to give up on Dwight so early? This extension means they can't trade him until December.
Years in NBA Defined maximum salary 2011-12 2012-13
0 - 6 25% of cap $12,922,194 $13,668,750
7 - 9 30% of cap $15,506,632 $16,402,500
10+ 35% of cap $18,091,071 $19,136,250