Nov 13, 2013, 12:33 AM EDT
Despite his declaration, most saw his addition to New York’s squad for what it was — a favor to the reigning Sixth Man of the Year, J.R. Smith, who could have left the Knicks this summer as a free agent.
Plenty of players have friends or family members on payrolls around the league, but having one taking up a precious roster spot is something else entirely. It adds to the lore of disfunction within the Knicks franchise, and whether it is deserved or it isn’t, what’s indisputable is that this particular decision is costing the team far more than Chris Smith’s $490,000 guaranteed salary.
Point guard Chris Smith has become the D-League’s first $2 million player.
That’s the amount Smith, J.R. Smith’s brother, is costing the Knicks as their 15th man due to the punitive luxury-tax system under the new collective bargaining agreement. …
Hence, the Knicks are paying Smith his minimum contract of $491,000 and have to pay the league’s escrow account an additional $1.6 million in luxury tax, equaling about $2.1 million. Because of a favorable quirk in his contract, the whole sum became fully guaranteed on opening night.
Smith will spend time developing in the D-League, but the Knicks could have had him do that at a far less expensive price. Had New York simply waived Smith before the season began, his contract would not have been guaranteed, but they still would have retained his D-League rights.
That’s exactly what the Spurs did by signing Josh Howard and waiving him a day later before the season started. But then again, it’s probably silly to compare a move made by the NBA’s model franchise to something done by a team which sits near the opposite end of that spectrum.
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