Teague finally signs, Contract details done. |
Teague finally signs, Contract details done. |
Aug 7 2012, 12:33 PM
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#1
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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, 02:31 PM
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#2
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Starter Group: Forum Moderator Posts: 994 Joined: 23-March 06 From: Atlanta Member No.: 84 |
Can't help but feel like we're being cheap on this one, especially when we are one of the most profitable teams in the Association. |
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Aug 7 2012, 04:44 PM
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#3
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12th Man Group: Members Posts: 198 Joined: 1-July 06 Member No.: 183 |
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Aug 8 2012, 07:02 AM
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#4
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All-Star Group: Administrator Posts: 2,568 Joined: 13-March 06 From: Michigan City, IN Member No.: 21 |
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Aug 8 2012, 07:15 AM
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#5
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Superstar Group: Administrator Posts: 3,914 Joined: 13-March 06 Member No.: 23 |
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Aug 8 2012, 08:35 AM
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#6
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All-Star Group: Administrator Posts: 2,568 Joined: 13-March 06 From: Michigan City, IN Member No.: 21 |
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Aug 8 2012, 08:52 AM
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#7
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Bench Group: Global Moderators Posts: 326 Joined: 23-April 06 Member No.: 109 |
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Aug 8 2012, 10:15 AM
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#8
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12th Man Group: Members Posts: 198 Joined: 1-July 06 Member No.: 183 |
Whats the point of a price slot if teams aren't gonna use it?
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Aug 8 2012, 12:07 PM
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#9
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Superstar Group: Administrator Posts: 3,914 Joined: 13-March 06 Member No.: 23 |
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Aug 8 2012, 12:15 PM
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#10
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All-Star Group: Administrator Posts: 2,568 Joined: 13-March 06 From: Michigan City, IN Member No.: 21 |
Whats the point of a price slot if teams aren't gonna use it? Without knowing exactly how far back this goes, if we are talking about 6 (now 7) guys out of all of these drafts have gotten less than 120%, it is hard to go off of the assumption that 100% of slot is normal. We are talking about something like 95 to 99% of signings coming in at 120% of slot. |
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