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The Eddy Curry Contract Prepayment Answer
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Andrew
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10/7/2010  11:33 AM
Many people have been wondering if the lump sum payment to Eddy Curry for this year would make him more tradable. The answer is no with this explaination coming from CAP guru Larry Coon.

If a team pays a player salary (or funds a loan) in advance of the season, then trades the player, his new team settles up with his old team -- i.e., if Curry gets $6 million in advance and is traded prior to the start of the season, his new team owes the Knicks $6 million. The Knicks are permitted to waive a portion of this money, but it counts against the $3 million limit for cash included in a trade, and therefore they can only waive up to $3 million of it.
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AnubisADL
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10/7/2010  11:47 AM
Andrew = Debbie Downer


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Markji
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10/7/2010  11:57 AM
Good to have clarified. Thanks Andrew.
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umynot
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10/7/2010  12:27 PM
Thanks Andrew..... Nice to know the rules
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Moonangie
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10/7/2010  1:05 PM
Bummer. Still, it's a big expiring contract, which has plenty of value in it's own right.
TymeLessKnicks
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10/8/2010  7:37 PM
Donnie Walsh and the Knicks seem to be really trying to help Eddy. I've never heard of a NBA player getting advance payment.
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martin
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10/8/2010  9:16 PM
TymeLessKnicks wrote:Donnie Walsh and the Knicks seem to be really trying to help Eddy. I've never heard of a NBA player getting advance payment.

perhaps it's in the contract that Isiah signed?

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SupremeCommander
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10/9/2010  5:16 AM
Andrew wrote:Many people have been wondering if the lump sum payment to Eddy Curry for this year would make him more tradable. The answer is no with this explaination coming from CAP guru Larry Coon.

If a team pays a player salary (or funds a loan) in advance of the season, then trades the player, his new team settles up with his old team -- i.e., if Curry gets $6 million in advance and is traded prior to the start of the season, his new team owes the Knicks $6 million. The Knicks are permitted to waive a portion of this money, but it counts against the $3 million limit for cash included in a trade, and therefore they can only waive up to $3 million of it.

Good to have the "cash" definition clarified. Do you know what language Larry Coon is basing his advance payment understanding upon? I will defer to his expertise, but I am curious. Everything I read made no reference to this.

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arkrud
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10/9/2010  10:32 PM
martin wrote:
TymeLessKnicks wrote:Donnie Walsh and the Knicks seem to be really trying to help Eddy. I've never heard of a NBA player getting advance payment.

perhaps it's in the contract that Isiah signed?

Yes. Contract states that Eddy must be treated as a little kid with brain defects.

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Markji
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10/10/2010  11:11 AM
arkrud wrote:
martin wrote:
TymeLessKnicks wrote:Donnie Walsh and the Knicks seem to be really trying to help Eddy. I've never heard of a NBA player getting advance payment.

perhaps it's in the contract that Isiah signed?

Yes. Contract states that Eddy must be treated as a little kid with brain defects.


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The Eddy Curry Contract Prepayment Answer
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