Papabear Says
We should have signed Felton to 3 years.
the Larry Bird exception not the Larry Bird rule, but anyway here it is.
Perhaps the most well-known of the NBA's salary cap exceptions, it is so named because the Boston Celtics were the first team permitted to exceed the salary cap to re-sign one of their own players (in that case, Larry Bird). Free agents who qualify for this exception are called "qualifying veteran free agents" or "Bird Free Agents" in the CBA, and this exception falls under the auspices of the Veteran Free Agent exception. In a nutshell, the Larry Bird exception allows teams to exceed the salary cap to re-sign their own free agents, at an amount up to the maximum salary. To qualify as a Bird free agent, a player must have played three seasons without being waived or changing teams as a free agent. This means a player can obtain "Bird rights" by playing under three one-year contracts, a single contract of at least three years, or any combination thereof. It also means that when a player is traded, his Bird rights are traded with him, and his new team can use the Bird exception to re-sign him. Bird-exception contracts can be up to six years in length.
The basic idea is that a player must play for the same team for three seasons for his team to gain Bird rights (two seasons for Early Bird rights). It can be a single three-year contract, a series of three one-year contracts, or any combination that adds up to three seasons (two for Early Bird). However there are a number of complications:
When a player is traded, his new team inherits his Bird rights. For example, if a player signs a three-year contract, plays two and a half seasons with that team, and is traded at the trade deadline in the third season, then his new team owns full Bird rights following the third season.
The player must complete his contract immediately prior to becoming a free agent, which essentially means he can't have been waived. If he signs a series of contracts, then this only applies to the last contract. If a team signs a player and waives him after one game, signs and waives him after one game again the next year, and in the third year signs him and keeps him the entire season, then they will have full Bird rights following the third season.
The clock resets when the player changes teams by signing as a free agent. An interesting case occurred in the 2008-09 season with Antonio McDyess, who had played exclusively for the Pistons since the 2004-05 season. In 2008-09 the Pistons traded him to the Nuggets, the Nuggets waived him, and he re-signed with the Pistons. Even though he only signed contracts with the Pistons and he completed his last contract without being waived, his Bird clock reset when he re-signed with the Pistons because he changed teams as a free agent.
The first season of the three-year tenure doesn't have to be a full season. If a player is waived and signs with another team in year one, then plays with his new team for two additional seasons, his new team will have full Bird rights following the third season.
If a player is waived and is claimed by another team before he clears waivers, then it is treated as a trade and does not affect his Bird clock.
10-Day contracts don't count toward Bird rights.
If a team renounces a player, they can't use the Bird exception to re-sign him for one yea