thedoctor
Years ago

ESPN Report - Knicks to Waive Marbury

FINALLY! But it will cost them over 21 million dollars!

http://linky.com.au/6ipoq

Skink
Years ago

im a huge knicks fan,but it only took them how long to do what everyone else was chanting.I mean its not like weve ever paid out any other players before.(slight sarcasm). Cant wait to see the team on the up, evan if it does happen slowly, or cost them $21m

Reply #205219 | Report this post

SVD
Years ago

The clear out for 2010 begins. A wise move - along with AI he is to be the 2nd highest player in the NBA this year.

Reply #205224 | Report this post

Quagmire
Years ago

Classic addition through subtraction.

Reply #205231 | Report this post

TR
Years ago

Why pay him out. He expires at the end of the year. Do exactly what Chicago did with Tim Thomas. Continue to pay him, but don't let him play and be with the team, and just wait until he expires.

If I was Marbury I wouldn't accept any payout for less than $21 mill. I'd be happy to sit on a beach somewhere and collect my money for the year. If the Knicks waive him then they still have to pay him.

Reply #205256 | Report this post

LC
Years ago

ESPN have run a retraction...

Link: http://linky.com.au/qknab

Reply #205258 | Report this post

oooh
Years ago

marbury was always one of the sexier muscular point guards in the NBA. Marbury has got staying power unlike skinny and uncool Arenas

Reply #205266 | Report this post

Mantis
Years ago

If the Knicks waive him then they still have to pay him.

Yes, but if they waive him he can sign with another team, and if he does, the Knicks get to reduce the amount they pay him by a portion of his new contract (the actual amount is half the amount of the new contract exceeds the Veteran's Minimum amount by). This reduction also brings down his contract amount for salary cap purposes, which works out to even more money saved if you are in luxury tax penalty territory, like the Knicks are. If my back-of-the-envelope calculations are correct, for ever dollar over the Vet's Minimum he signs for (~$1.2M for a player with 10+ years experience), the Knicks save $1.50.

Note that the new contract only has to be with another pro team, so he can go to Europe and the Knicks' will still get the salary and cap reduction.

Reply #205272 | Report this post

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ESPN Report - Knicks to Waive Marbury

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