Sometimes failure (i.e. getting worse as an aging NBA player) pays off:
DALLAS -- Michael Finley was waived late Monday night by the Dallas Mavericks, who took advantage of a one-time amnesty provision that will allow them to avoid luxury taxes on the $51.8 million owed their captain over the next three seasons.
The Mavs spent all day Monday exploring trade options, and waited until just before the late-night deadline to release Finley and take advantage of the provision in the NBA's new labor agreement.
Finley becomes an unrestricted free agent and is still guaranteed the money from his Mavericks contract, plus whatever he gets from a new team.
...The Mavs avoid a dollar-for-dollar tax on Finley's $15.9 million salary for the 2005-06 season. The two-time All-Star is due $17.3 million and $18.6 million over the final two seasons of the seven-year contract he signed in 2001.
That's $51.8 million NOT to play.
Tuesday, August 16, 2005
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment