I do not believe that any player should be sacrificing pay just so Knicks or any team for that matter can retain them. Seriously? Why not ask the high paying stars to sacrifice? Why not give up $5 mil of their pay? It's nothing compared to what they are getting, right? No? So much for being selfless. What's with this double-standard?
To be honest their is no reason our 3 stars cant make it work this season, but IMO if things don't look smooth i think we should really consider a trade at the deadline.
In my view Nash, Allen & Camby are pipe dreams but I'm hopeful Odom is a serious possibility. The return of:
JR Smith (50/50)
And possible addition of:
Backup PG (Draft/Vet)
SG Option (Stevenson/Parker/Bogans)
Will set us up nicely for next season.
According to a memo from NBPA executive director Billy Hunter, which was obtained by ESPN.com, "players may engage in renegotiation and extension, but the players' salary cannot decline by more than 40 percent."
A contract for four or more seasons can be renegotiated after the third anniversary of its signing, extension, or previous renegotiation (if the previous negotiation increased any season's salary by more than 4.5%). Contracts for fewer than four seasons cannot be renegotiated. A contract cannot be renegotiated between March 1 and June 30 of any year.
Only teams under the cap can renegotiate a contract, and the salary in the then-current season can be increased only to the extent that the team has room under the cap (and cannot increase the player's salary beyond the maximum salary). A renegotiation can only be used to provide a salary increase -- players can't take a "pay cut" in order to create more cap room for the team.
If the player agrees to waive a portion of his trade bonus in order to facilitate a trade (see question number [Only registered and activated users can see links. ]), his contract may not be renegotiated for six months following the trade.
Every category of compensation (base salary, likely bonuses, and unlikely bonuses) that are increased in the renegotiated season must also increase in all subsequent seasons of the contract. Raises (and decreases) in subsequent seasons are limited to 7.5% of the salary in the first renegotiated season.
A renegotiated contract can be extended simultaneously (see question number [Only registered and activated users can see links. ]). If a player's contract is extended and renegotiated simultaneously in this manner, his salary may not decrease by more than 40% from the last season before the extension (after it is renegotiated) to the first season of the extension. For example, if the salary in the last season of a contract is renegotiated to $10 million and the contract is simultaneously extended, the salary in the first season of the extension cannot be less than $6 million.
Other rules for renegotiations:
- A signing bonus cannot accompany a renegotiation unless the contract is extended simultaneously (see question number [Only registered and activated users can see links. ]).
- A rookie scale contract (see question number [Only registered and activated users can see links. ]) cannot be renegotiated.
- A contract cannot be renegotiated in conjunction with a trade.
Last edited by tiger0330; Jun 15, 2012 at 07:17.