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Old 06-25-2011, 02:15 PM   #1
Molson
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Default Raptors reach buyout agreement for Val

http://eye-on-basketball.blogs.cbssp...48484/30243803

I'm not sure what this means. My understanding was that this was the original buyout agreement anyways so I'm guessing that means Toronto has just agreed to those terms?

I know the Raps can only put 500K towarsd the 2.4M and Val has to pay the rest. Any idea what his rookie contract is? Do we pay him his rookie contract while he is playing in Lithuania or only once he starts playing for us officially? I'm assumning it's only after he starts playing for us so how much is he earning now? 2.4M is a lotta dough. If he's getting 3M/yr on his roookie contract, then that means he is clearing only about 1.8M per year after taxes. Can players take loans to pay these things off? I've also read elsewhere that this means we will have him in 2012/13 season but not sure why that is unless there is a clause that says he has to play one more year in Lithuania which i think there originally was.

Any clarity on this would be appreciated.
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Old 06-25-2011, 05:23 PM   #2
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Default Re: Raptors reach buyout agreement for Val

Here's a bit more comprehensive article on the buyout

http://www.torontosun.com/2011/06/24...-euro-contract


I gather from this artcile that Val is staying in Lithuania for one more year and then has the option of paying 1.9M out of his own pocket to buyout his contract. (2.4M - 500K from the Raps and 1.9M from him).
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Old 06-25-2011, 05:47 PM   #3
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Default Re: Raptors reach buyout agreement for Val

Looks like it. Also looks like Colangelo is trying to build longtern from some of the stuff said in the article "Colangelo’s response to the backlash has been to ask fans to be patient, that the wait will be worth it in the end and that Valanciunas is the type of player who can help the team compete long-term, he’s not a short-term band aid."

Looks good to me.
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Old 06-25-2011, 06:08 PM   #4
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Default Re: Raptors reach buyout agreement for Val

I'm happy with Colangelo as long as there are none of these "short term band aid" moves.
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Old 06-26-2011, 02:55 AM   #5
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Default Re: Raptors reach buyout agreement for Val

Quote:
Originally Posted by Chamberlain
I'm happy with Colangelo as long as there are none of these "short term band aid" moves.

Exactly. Leave the 'short term band aid' moves for the Leafs, those are their thing.
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