NBA amnesty clause will include protective bidding systemPosted by Inside Hoops
An expected windfall for NBA contending teams in search of affordable talent could wind up short-circuited by the league’s soon-to-be-approved collective-bargaining agreement.
The Sun Sentinel confirmed Sunday that instead of players being released under the league’s “amnesty” provision going directly to the open market, a bidding system has been put in place for teams operating below the league’s salary cap to add such players at a deep discount.
“That’s what the clause is in there for,” a party familiar with the impending process Sunday told the Sun Sentinel. “It’s so the Lakers can’t go in and scoop up all the players.”
Under the amnesty program, a team can waive a player in order to remove his salary from its salary cap and luxury tax, while still paying out the balance of that contract. It had been widely assumed that such players then would immediately hit the open market…
However, in an outline of the proposed collective-bargaining agreement obtained by the Sun Sentinel, the NBA instead has instituted “a modified waiver process” that would allow teams operating below the salary cap to “submit competing offers to assume some but not all of the player’s remaining contract…
“Some of it is still not 100-percent worked out,” a party familiar with the impending policy told the Sun Sentinel.
– Reported by Ira Winderman of the South Florida Sun-Sentinel