Posted by djsunyc:
Posted by Cosmic:
It's only 3 years now? I thought it was up to 5 years but Wade and Bron both did the 3-year extension to keep their options open last go around.
it might be 5...but whatever the case, he will be passing up an extra $30+ mil if he signed his extension today instead of next summer.
Well, again, this is always a widely reported mistake. Everyone always leaves out the extra year and just says it's 30M more. 5 years or 6 years it's still an entire extra year of salary - not just 30M more over the same time period - of which the detractors want to lead you to believe.
The difference, I believe, is the annual percentage increase in salary. I believe the home team can offer 10.5% raises whereas the new team can only offer 8%? Something like that?
So over 5 years...you lose about 5-6 Million off a max contract. As to the home team or away team - the 6 years versus the 5 years - there is no problem here - for the player is young enough to play 5 years in a new city and then get a brand new 6 year max contract. Add in the big market endorsements and it's a no brainer for LeBron to leave Cleveland, the extra 6th contract year, and the roughly 5-6M lost over 5 equal years of salary - to gain ten fold or more - in endorsements.
He'd make out better leaving for a big market.
Learn it, live it, love it,

, for it is the reality of the whole "Oh but CLE can offer him 30M more!!!" No, they can't, they can offer him roughly 5-6M more over the SAME TIME PERIOD, and, cannot in any way shape or form offer the substantial increase in off-the-court royalties from endorsements.