Teague finally signs, Contract details done. |
Teague finally signs, Contract details done. |
Aug 7 2012, 12:33 PM
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Superstar Group: Administrator Posts: 3,914 Joined: 13-March 06 Member No.: 23 |
At least they saved that measly small amount of money.
QUOTE When the Bulls signed Kirk Hinrich to a portion of the midlevel exception and Marco Belinelli to the biannual exception, they put themselves in a hard-cap situation of $74.307 million. Thus, negotiations with Teague focused on a first-year salary of less than 120 percent, sources said.
Teague ultimately signed a deal for 100 percent of his slotted salary in the first year, or $857,000, sources said. The following years are expected to be at the 120 percent slotted salary. The Bulls will now have 13 players under contract. However, with just $758,550 under the hard-cap figure, they do not have enough money to sign a player to the veteran's minimum of $857,000. The Bulls will be paying the luxury tax for the first time in franchise history. |
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Aug 7 2012, 04:44 PM
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12th Man Group: Members Posts: 198 Joined: 1-July 06 Member No.: 183 |
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