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Report: Bulls will not match Rockets’ Omer Asik offer sheet

Jul 24, 2012, 8:29 AM EDT

Omer Asik

This was expected, we were just waiting for it to become official.

It will on Tuesday — the Bulls will not match the three-year, $25.1 million offer sheet the Rockets gave center Omer Asik, reports K.C. Johnson at the Chicago Tribune. Asik will become a Rocket on the exact same deal that make Jeremy Lin a Rocket.

This clears the way for the Bulls to sign Kirk Hinrich and make other promised moves.

The Tribune reported on July 8 that Hinrich verbally agreed to a two-year deal, but it’s closer to $8 million in value, sources said…. The Bulls will add another shooting guard as well, with the imminent signing of Marco Belinelli for the biannual exception of $1.9 million.

We have noted that the Bulls have made moves like these that kind of tread water right now on the court but will all expire in the summer of 2014 (along with the deals of Luol Deng) and once you amnesty Carlos Boozer suddenly the Bulls have the money to go after a max-deal player to pair with Derrick Rose.

Ironically, while not really getting better this year on the court the Bulls will pay the luxury tax for the first time in franchise history. But just a few million, by using part of the mid-level exception on Hinrich and the biannual on Belinelli to go over the luxury tax threshold ($70 million) the Bulls put a hard cap on themselves of $74.3 million. They cannot exceed that. So they couldn’t bring back Asik.

He’s now a Rocket. And with their new deals Asik and Lin will now make close to $30 million combined in the 2014-15 season. That should be fun for Houston to find a way out of.

  1. danielcp0303 - Jul 24, 2012 at 8:41 AM

    Some very good moves by the Rockets. Both Lin and Asik will be a little over 8 million on their cap every year. Low risk, high reward. In that 3rd year they’ll both become valuable trade pieces, while maintaining the flexibility with their cap.

  2. thekingdave - Jul 24, 2012 at 8:45 AM

    “He’s now a Rocket. And with their new deals Asik and Lin will now make close to $30 million combined in the 2014-15 season. That should be fun for Houston to find a way out of.”

    Yeah shipping out big expiring salaries will be really hard to do and has never been done in the NBA before Kurt (insert sarcasm)

    • berto55 - Jul 24, 2012 at 9:56 AM

      Except who exactly will be available that teams will actually want to shed salary to go after? Rondo, Aldridge, Love? Doubt it. I hope Houston gets to choke on their own poison pill when nobody wants to trade for expiring contracts.

      • danielcp0303 - Jul 24, 2012 at 10:02 AM

        Bitter much? That’s a long time down the line, you never know who will become available. When Dwight was in the Finals, did anyone think he’d be demanding a trade just a few years later? Even if they can’t trade them (highly unlikely), they’ll have even more cap space then they do right now.

      • berto55 - Jul 24, 2012 at 10:49 AM

        LOL, bitter, no? You can have Asik, for that matter I think $5 Million per year is too much for a guy that can only score on the random putback. I just like to see teams that give bad, silly contracts get their just desserts and Houston now handed out two. I also think the poison pill is in bad taste so it will be extra sweet to watch Houston be bad. Additionally, I don’t know why expiring contracts are thought to be such an asset as they aren’t always.

  3. dadeyemi - Jul 24, 2012 at 9:19 AM

    the rockets actually won’t pay 30 mil in the final season of those contracts. remember only the teams that owned their rights were requires to pay 5 mil for the first 2 years then pay the poison pill 3rd year. Houston has the ability to average out the total value of then contract over its life. So Houston isn’t paying Lin 5-5-15 but roughly 8-8-8

    • danielcp0303 - Jul 24, 2012 at 9:21 AM

      Actually, both Lin and Asik will be paid about 15 million in the final year of their contracts. But the cap hit can be averaged out over 3 years. So while the Rockets will be paying roughly 5-5-15, the cap hit will be 8-8-8

      • chiadam - Jul 24, 2012 at 1:03 PM

        General Managers care about cap hits. Owners care about real dollars. The fact is that Lin (a turnover machine with 25 whole starts in a system that made Ray Felton look like an All-Star) and Asik (literally cannot catch the ball, let alone score it) will make $30 million in year three of their deals. Period. Who thinks any owner in the league wants to pay that sum for those two? Neither do I.

      • danielcp0303 - Jul 24, 2012 at 1:47 PM

        Leslie Alexander wants to win. He’s one of very few owners willing to spend whatever it takes. The more talent the Rockets get, you’re gonna see them get closer and closer to the luxury tax. They’ll probably end up paying it if they get Howard or another superstar player. Rockets have the money to pay

      • Kevin S. - Jul 24, 2012 at 1:49 PM

        And they’ll make a combined $20 million on the first two years of their deals. Holding the amount of money they’re being paid constant, heavily backloading these deals is better for Les Alexander.

  4. philtration - Jul 24, 2012 at 10:02 AM

    There are no “max-deal players” coming up in 2014.
    Unless you are going to throw the bank at guys like Kobe, Dirk Nowitzki and Amare Stoudemire.
    Will Kobe and Dirk even be playing then?
    Is Stoudemire worth the money he makes in New York let alone another pay raise?
    Will you resign Luol Deng?
    Will LeBron and Wade now sign with the Bulls when they have gutted the team after passing on them when they had a real shot at a ring?

    If I can look up the NBA free agents for 2014 then why can’t the Bulls front office or the guys that write for PBT do the same?

  5. dylude - Jul 24, 2012 at 10:07 AM

    I think all NBA writers need to attend a salary cap class.

    The cap salary paid to Asik and Lin will NOT be $15 million. They got an $8 mil/year PG and Center that can be advertised as big expirings after the 2nd year.

    That’s not a bad scenario, that’s a plus, Kurt. It’s like extra insurance for trade value if their play isn’t great. That’s a good thing…. Not a negative.

    • Kurt Helin - Jul 25, 2012 at 1:46 PM

      Actually, in the last year of their deals they both make $14.8 million and that is what counts against the cap, this is not amortized against the cap. You can choose to view it that way, but that’s not how the salary is paid out. And if you think with the increased luxury tax penalties that kick in by then will make those easy to move deals you are in for a surprise.

      • Kevin S. - Jul 25, 2012 at 7:19 PM

        Actually that is not what counts against the cap.

        Unless you think you know the cap better than Larry Coon does, of course.

  6. dysraw1 - Jul 24, 2012 at 11:48 AM

    either this gm. is a genius or nut

  7. mrbiz8505 - Jul 24, 2012 at 12:14 PM

    Lin + Asik = Turnover

    • chiadam - Jul 24, 2012 at 1:06 PM

      Lin + Asik + $30 million = Darryl Morey’s resume on Hotjobs.

  8. Kevin S. - Jul 24, 2012 at 1:51 PM

    If Jerry Reinsdorf doesn’t want to pay the luxury tax this season (and doesn’t want to pay Boozer $32 million to not play for the Bulls the next two seasons), Boozer’s contract fits with Humphries’ almost perfectly, Just sayin’.

    Okay, just dreaming.

  9. dylude - Jul 24, 2012 at 2:53 PM

    The site doesn’t post my comment when I criticize the writer and then they change the story.

    There is nothing for the Rockets to “get out of” that amounts to $30 million because the cap hit is averaged out in this CBA. The Bulls have cap issues, right now the Rockets have none.

    The owner knows whether or not $25 mil for Jeremy Lin is worth it because it’s his money and he has the deals in place in Asian markets.

    We are commenting on the basketball side of the deal and in terms of BASKETBALL neither Lin not Asik are getting $15 mil/each that 3rd year…. It’s averaged to $8.

    Please report properly. Learn the new CBA.

    • berto55 - Jul 24, 2012 at 10:10 PM

      Potatos tomatos, your argument uses both the positives for the Rockets. True, the cap hit for them is $8 Million, but not for the team that would trade for this supposed expiring contract…..for them it is $15 Million. So which is it? This is a good deal because they’ll keep them or because they’re valuable as trade pieces? Who’s going to take on that salary and when? How do you justify paying $5, $8 or $15 Million for 3.1 points and 5.3 rebounds? Granted his value is higher because of things that don’t show on the stat sheet, but Asik is not a starter on any championship team, ever.

      • Kevin S. - Jul 25, 2012 at 12:47 AM

        Is that actually the case? I was under the impression that their cap schedule would be determined by whether or not their initial team matched. Otherwise there are some accounting issues, especially if they’re traded after two years. If they counted for $8.3 million in each of the first two seasons and then $15 million in the final season, that’s $31.6 million each that they accounted for over the course of contracts that paid them $25 million each. Considering the cap is about the players getting a fixed portion of revenues, I think there’d be a major problem with players counting for more than they actually get paid.

  10. khuxford - Jul 25, 2012 at 3:58 PM

    So…doesn’t this essentially mean it’d be hard for the Rockets to get Dwight Howard? Putting him back in waiting for a January trade to the Nets?

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