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The Los Angeles Lakers and forward Luol Deng are finalizing a contract buyout as part of waive-and-stretch provision


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#1 bigfetz

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Posted September 01, 2018 - 07:41 AM

Sources: The Los Angeles Lakers and forward Luol Deng are finalizing a contract buyout as part of waive-and-stretch provision.

 

Veteran forward Luol Dèng and the Los Angeles Lakers have reached an agreement on a buyout, league sources tell ESPN.

 

Shams Charania Retweeted Shams Charania

Sides have been working on parting ways on remaining two years and $36.8M on Deng’s contract and reached agreement, allowing him to enter free agency.

 

 

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#2 BasketballIQ

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Posted September 01, 2018 - 07:49 AM

Hmmmm...

#3 Clutch Factor

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Posted September 01, 2018 - 07:49 AM

So this means:

 

  • Stretch provision will start in the 2019-2020 season with an additional 2 seasons of cap hit
  • Lakers will have $36-38M in cap space next year (guaranteed max) as opposed to the initial $25M
  • Lakers will have $6.27M on the salary cap from 2019-2020 through 2021-2022 season 
  • The amount could decrease depending on if Deng gives any money back to LA 

Edited by Clutch Factor, September 01, 2018 - 07:55 AM.


#4 fido

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Posted September 01, 2018 - 07:49 AM

The last major Mitch-stake gone, thank you!
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#5 Clutch Factor

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Posted September 01, 2018 - 07:54 AM

I'm not too sure of the positives of this instead of waiting another year for a potential trade or to just stretch him next year. 

 

However, we do get to keep any picks/assets we would have used in a Deng trade. Plus, this makes the Lakers look like a model franchise as Deng openly complained about not getting playing time. Forcing him to stay and not play him even a second wouldn't be the best look.

 

It's also possible the Lakers have an unwritten guarantee for our next max free agent. Or they're highly confident.  



#6 bigfetz

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Posted September 01, 2018 - 08:10 AM

Player 2018-19 2019-20 2020-21    
LeBron James $35,654,150 $37,436,858 $39,219,566   Non-Guaranteed
Luol Deng $7,362,000 $7,362,000 $7,362,000   Team Option
Kentavious Caldwell-Pope $12,000,000       Qualifying Offer
Rajon Rondo $9,000,000        
Lonzo Ball $7,461,960 $8,719,320 $11,003,782    
Brandon Ingram $5,757,120 $7,265,485 $9,481,458    
Lance Stephenson $4,449,000        
Michael Beasley $3,500,000        
Moritz Wagner $1,762,080 $2,063,520 $2,161,920    
Kyle Kuzma $1,689,840 $1,974,600 $3,562,178    
Josh Hart $1,655,160 $1,934,160 $3,491,159    
Ivica Zubac $1,544,951 $1,931,189      
JaVale McGee $1,512,601        
Sviatoslav Mykhailiuk $1,487,694 $1,416,852 $1,663,861    
Isaac Bonga $1,000,000 $1,416,852 $1,663,861    
Total: $95,836,556 $71,520,836 $79,609,785    
Cap: $101,869,000 $108,000,000 $113,400,000    
Tax: $123,733,000 $131,000,000 $137,550,000    
Cap Room: $6,032,444 $36,479,164 $33,790,215    
Tax Room: $27,896,444 $59,479,164 $57,940,215    

 

This is pre buyout figure so expect the cap room to increase.

#7 bigfetz

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Posted September 01, 2018 - 08:15 AM

The timing of this really makes no sense unless there was a 2nd move that will happen. Figured they would at least try to trade him at the deadline. 


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#8 bigfetz

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Posted September 01, 2018 - 08:34 AM

Ok now reading they might be just stretching his last year. Updated figures if true

 

Player 2018-19 2019-20 2020-21    
LeBron James $35,654,150 $37,436,858 $39,219,566   Non-Guaranteed
Luol Deng $18,000,000 $6,270,000 $6,270,000   Team Option
Kentavious Caldwell-Pope $12,000,000       Qualifying Offer
Rajon Rondo $9,000,000        
Lonzo Ball $7,461,960 $8,719,320 $11,003,782    
Brandon Ingram $5,757,120 $7,265,485 $9,481,458    
Lance Stephenson $4,449,000        
Michael Beasley $3,500,000        
Moritz Wagner $1,762,080 $2,063,520 $2,161,920    
Kyle Kuzma $1,689,840 $1,974,600 $3,562,178    
Josh Hart $1,655,160 $1,934,160 $3,491,159    
Ivica Zubac $1,544,951 $1,931,189      
JaVale McGee $1,512,601        
Sviatoslav Mykhailiuk $1,487,694 $1,416,852 $1,663,861    
Isaac Bonga $1,000,000 $1,416,852 $1,663,861    
Total: $106,474,556 $70,428,836 $78,517,785    
Cap: $101,869,000 $108,000,000 $113,400,000    
Tax: $123,733,000 $131,000,000 $137,550,000    
Cap Room: -$4,605,556 $37,571,164 $34,882,215    
Tax Room: $17,258,444 $60,571,164 $59,032,215    

 



#9 Artest37

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Posted September 01, 2018 - 08:42 AM

The timing of this really makes no sense unless there was a 2nd move that will happen. Figured they would at least try to trade him at the deadline. 



I read something about if they did it yesterday, stretch would be $36 over 5 years versus doing it today with buy out of 1 year it becomes just a stretch of $18 over 3?(basically cap less of a cap hit going forward, but I’m no capologist)


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#10 bigfetz

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Posted September 01, 2018 - 08:45 AM

I read something about if they did it yesterday, stretch would be $36 over 5 years versus doing it today with buy out of 1 year it becomes just a stretch of $18 over 3?(basically cap less of a cap hit going forward, but I’m no capologist)


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Yea thats what its looking like. It appears they just were going to hold until today then waive. Hopefully is a decent buy out.



#11 Jody Smokes

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Posted September 01, 2018 - 08:51 AM

So unlike what GCMD suggested the Lakers will have a max slot (Kawhi) and will keep all their assets going forward.  This is chess not checkers. 


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#12 Toe Sucker

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Posted September 01, 2018 - 09:28 AM

:(
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#13 Busty Bluth

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Posted September 01, 2018 - 09:41 AM

I was so happy to see this on ESPN at the gym. Good riddance you [expletive]ing thief. Should’ve happened last summer.


Bye for now

#14 Clutch Factor

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Posted September 01, 2018 - 09:50 AM

I was so happy to see this on ESPN at the gym. Good riddance you [expletive]ing thief. Should’ve happened last summer.


Bye for now

 

In fairness, it was Mitch and Jim's fault for offering him that absurd contract. Any one of us would have accepted the money. 


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#15 Busty Bluth

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Posted September 01, 2018 - 09:50 AM

:(



What a great day to be a laker fan🎉🎉 one question if they do the impossible and win a championship does Deng still get a ring?


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#16 Toe Sucker

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Posted September 01, 2018 - 09:51 AM

Luke Walton is the last remaining Mitch/Jim debacle.
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#17 Busty Bluth

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Posted September 01, 2018 - 09:54 AM

I was so happy to see this on ESPN at the gym. Good riddance you [expletive]ing thief. Should’ve happened last summer.



Bye for now


 
In fairness, it was Mitch and Jim's fault for offering him that absurd contract. Any one of us would have accepted the money. 



That is true. But it didn’t stop him from talking about playing time, he is clearly finished and worth nowhere near that money.


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#18 Busty Bluth

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Posted September 01, 2018 - 09:57 AM

Luke Walton is the last remaining Mitch/Jim debacle.



I was thinking that. Don’t forget Ingram😉


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#19 Toe Sucker

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Posted September 01, 2018 - 09:58 AM

I was thinking that. Don’t forget Ingram😉


Bye for now


And Zubac :/
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#20 Massacre

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Posted September 01, 2018 - 10:52 AM

@KeithSmithNBA
Per league sources, Luol Deng did give money back in his buyout. Word is somewhere between $5 and $10 million total. Will make a large difference for the dead money on the LA books this year and going forward.

Good news, will decrease the cap hit from $6.72 mil. Surprised Deng gave back that much, but he always handled this situation well. Nobody in his position would turn down $72 mil.
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