Olajuwon retirement FACTS
6. Larry Coon, the recognized internet expert on such matters, quoted the following from the NBA Collective Bargaining Agreement:-
"In no event shall team and player amend a contract for the purpose of terminating or shortening the term of the contract, except in accordance with the NBA waiver procedure or Article XII, Section 2." So it's not as easy as saying "here's some money, now take a hike," even if the player is willing."
(Article XII is for option clauses, covered in item 5. The NBA waiver procedure would simply involve us waiving Hakeem but still paying his salary in full)
He goes on to say:-
"This exact situation is what John Starks and the Bulls are going through. Starks wants to give up the remainder of his salary so he can leave the Bulls and join another team. The Bulls are willing to let him go. But there's nothing in the CBA that would allow him to do so, so Starks is stuck where he is."
7. Even if there is an"Option Clause" in the contract that allows us to "buyout the contract" consider this:
a) Next year salary cap is expected to be approximately $35.5 million.
b) If we negotiate to pay Hakeem just $5 million of the $16 million due him we will be AT THE SALARY CAP, and hence have no room to sign a free agent. If we agreed to pay Hakeem just a pitiful $2.5milllion, we would have $2.5million with which to sign a free agent, which is roughly equal to the "Mid Level Signing exception" we would have if we were still OVER THE CAP.
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