YAY REJOICE!

Zorgon might hate you for life. As for me, sounds like good news.

Now we can have pob be our end of the bencher/portable stretcher for mp and others. I'm glad we got this done, I wonder if Foyle will actually get some minutes with the celtics. Other than his ambassador abilities, I think I'm going to miss his ability to potentially pad salaries for trades, but oh well.

I was telling OptionZero last night that Foyle could take a buyout. I didn't know anything was in the works, but I told OZ that Foyle would be open to taking a buyout because the team-option $10-million (third year) would be included in it (that's money Foyle wouldn't have gotten otherwise).

I'm writing up what this means ..

We can re-sign Powell because we're going to need some extra big bodies to bang on the low block against the power post players in the league.  Glad to see that Adonal has a chance to play some minutes now, I kind of wished that Nelson had given him more playing time, it would have helped with his trade value.

never thought this would actually happen..moving to the eastern conference would be perfect for him. that would be crazy if he joins the celtics..talk about a come up.

for the third year which we would have saved 9 million minus the 1 million to buy him out that year, this seems like an awfully expensive way to clear a bench spot.  So I'm to understand that with this in place we payed him for all three years minus 3 million so 26 million!!!  Oh my friggin' lord.  So if we would have waited until the 3rd year we could have bought him out for a million and only paid him around 19.7 million and could have possibly traded him before the last year????  Why would anyone pay this kind of money to a player for nothing???  I'm confused please help explain to me why this was done Pree?

ure on top of ure stuff pree. thanks for the news. that means there won't be "foyls loyals" banner in the oracle.

Most "buyouts" pay roughly 80% of the gauranteed amount remaining on the contract.

Troy Hudson (3 years remaining), Steve Francis (2 years), and Webber (dunno) all probably got 80% of what they had left on their contract.

Foyle had about 8.9M guaranteed this year; 9.8 guarnateed next year. That totals approximately $19M.

IF That were all that his contract entailed, we would have simply been able to pay him 80% of 19M, about $15M. That would have counted as about $7M against this year's cap; $8M against next year's cap (approximate figures).

That would save us about $2M each year, and of course we'd be done with it by '09.

HOWEVER, Mullin, genius that he was, gave Foyle a team option at $10M in '09-10 with a $1M buyout if we declined it.

Under the terms of this buyout, as I understand from talking to pree, the 3rd year must be activated. So for the purposes of a buyout, his guaranteed amount is about $29M.

That's why we had to give him what is likely to be $24M (roughly 80% or so of the $29M).

Once that percentage is determined, the amount that it counts against the cap is proportional to the amount of the contract each year.

Since he is due $8.9M this year, 80% of that counts against this year's cap.

If he's due 9.8M next year, 80% counts against next year's cap.

In '09, it's $10M on the contract, so 80% counts against the '09-10 cap.

bear in mind 80% is a guess, the exact amount has yet to be released.

Pree's doing an article on the buyout; I'm planning a diary on the Warriors financial future a little later.

Stay tuned!

WE SHOULD PAY NELLIE

There has been a debate going on the last few days on Adam's blog on the Merc's site about whether or not Cohan is cheap. Dude read the site.

this is crazy news i must say

pree's article is up with all the details

The buyout would be frontloaded, last year will be very small .. but there will be something in that year.

Remember, the numeber the team takes on the cap is a percentage of what he was owed that year in correlation to the buyout figure.

Hope that clears things up.

NBA.com is this, dnt think its been posted yet, just a little more info on it
http://www.nba.com/warriors/news/Warriors_Request_Waivers_On_Adonal_Foyle.html

I can't imagine that they'd have bought him out for more than the $19.7mil that he was absolutely guaranteed.  That doesn't make any sort of financial sense as releasing him without the buyout, something that was always a possibility, would then have been cheaper.  The only possible advantage in that would be if they were certain to be over the tax next year, hoping to divide some of this into a 3rd year, but in that case, the savings would be very, very small (a little less than $2 million this year and next). Further, in the 3rd year, they'd be paying him more than if they let him walk, to the tune of about $7.5 million that counts towards the cap and tax.  

There's no sense in paying him more than what he's owed at absolute minimum.  It doesn't help the cap situation much short term and provides a huge problem long term.

Pree's guess of about $16 sounds more or less on target with what I figured would be an amount that made financial sense for Foyle if he gets the lump sum. My guess is that the financial equation makes sense for him at that point and since the Warriors weren't going to be able to use him this year, any savings at all is worth it since otherwise, he's blocking someone else from getting onto the roster.  

Whether or not the buyout uses the million figure in year 3 or the $10 million figure in year three determines how much of a savings will be realized in each year, but this doesn't factor much if at all into the price at which a buyout makes sense to both parties, a figure that's got to be lower than $19.7mil.

YES!!!!!

In terms of finance; we have saved ourselves a bit of money (if we don't have to pay more than $1 million for his third year in the buyout).
In terms of clearing a roster spot, it helps and it means we can sign Lasme or anyone else who impresses at training camp.

On the downside; we will have to rely on young players Kosta Perovic and POB as backup centers which won't be a bad thing if they play well but if they struggle, we will have a bit of a problem. Foyle was a good, experienced option to have off the bench and he was popular in the dressing room and amongst other players and coaching staff.

Good Luck Adonal, I hope you do well in Boston.

i didnt think i would ever see this day arrive. This is truly a great moment for the GSW.

thanks pree

and consequently one of the worst days for someone else.  

Foyle, good citizen just a bad fit here. All I wanna know is what next?? Maybe the young bucks will have more time to bang around in the offseason in prep for a bigger role come crunch time, let's just hope at least one of them is up to it. What do you think Pietrus' future is??

Yes, I been waiting for this day. Oh wait we still have to pay him. Oh well, at least we don't pay after 2 yr. So it all good. lol

this move keeps getting better...i can't wait to see what they do next..

http://www.contracostatimes.com/entertainment/ci_6614614?nclick_check=1

I can't believe someone would take a 34% paycut just to help his old employer out.

I projected $16 .. but $13 means the Warriors have "saved" a ton .. I think you'll see a S&T with MP2 now.

That just shows what a great person Adonal is, agreeing to that and it helps us out a lot for cap space. I wish him all the best at Boston, Orlando or wherever he goes (even if it is in the Western Conference); unlike almost everyone in the NBA, he was prepared to accept less money in order to help his team out and that is a great gesture.
This means we have more Cap space to save for next year for Ellis and Biedrins' contract extensions or we have more to spend now on getting a starting SF or a back-up PG. I am not keen on getting Jason Williams because I don't think it's worth taking on his salary just to have him as a back-up. I would rather go for Jarrett Jack from Portland through a trade, maybe giving up Wright. Then I would try and get AK47 from Utah giving up Harrington, POB, Jasikevicius and a couple of picks - if we had to, we could give up more. These trades aren't likely to happen but I think they would help us considerably and Utah and Portland would hopefully agree to them.

He agreed to a 66% buyout. Most buyouts are normally 80/90%; Foyle's was 66% - considerably less - That helps the team and he agreed to it despite knowing this.

games to attend next year:

charlotte: 48minute standing ovation
boston: "we want foyle"