LeBron has accepted
Posted July 8th, 2006 by Brian Windhorst
A few minutes ago LeBron’s agent called to confirm he will accept the Cavs offer. Ohio.com personnel are working to get more content up on the site. More here and at Ohio.com later and plenty in tomorrow’s Beacon Journal.
The deal is five years, estimated at $79 million with an opt-out clause following the fourth year of the extension.
UPDATE: The final terms of the deal have yet to be finalized. However, I am quite sure LeBron will take the five years and he’ll get the opt out. Everybody gets it and most use it. However, the home team advantage only increases because the size of the dollars grows. Kobe Bryant opted out and re-signed two years ago, Tracy McGrady and Shaquille O’Neal did last year, Allen Iverson and Kevin Garnett did three years ago. Paul Pierce will next year.
It is not something to get all flustered about, it is standard. Its exact term is Player ETO (Early Termination Option) and comes on fourth year of a contract that is at least five years in length. Ira Newble has an ETO for next year, which he won’t take I’m sure. Zydrunas Ilgauskas has an ETO in June of 2009. Larry Hughes does not have one.
July 8th, 2006 at 11:21 am
Whooohooooo!!!!!!!!!! We are guaranteed 5 more years of LeBron. He created a stir and made everyone realize how lucky we are to have him. We are so lucky he is from Northeastern Ohio. Now Danny can take his time and build this team the right way. No rush to sign mediocre free agents for more than they are worth. Lets continue building a championship team, Danny!
July 8th, 2006 at 11:44 am
Is the opt-out clause a team option or a player option? I assume it is a player option? Is that typical? Not that I want to start worrying about 6 seasons from now.
Opting In!
July 8th, 2006 at 1:07 pm
Actually, KC, guaranteed four more years of LeBron, not three. Next season, then the first three seasons of his new contract. Then, it’s off to Brooklyn or New York.
That opt-out provision speaks volumes. In effect, it’s really only a three-year contract. Betcha that’s also what was holding up negotiations.
July 8th, 2006 at 1:10 pm
Whoops. Misread it. It actually is effectively a four-year contract, not three.
July 8th, 2006 at 1:30 pm
So, “actually”, KC was right and you were wrong…
The opt-out may allow LeBron to re-sign a new extension at the end of 4 years at a higher salary over a longer period. Or it could give him more flexibility to walk. We won’t know for 5 seasons, so does it matter now? Are you not happy he signed? We’ll see how it compares to the rest of the max contracts.
July 8th, 2006 at 1:45 pm
This is the best day of my life!!!!!!!!!!!1
July 8th, 2006 at 1:48 pm
Alan Tucker should learn how to read. It is 4 years on top of his rookie contract (the opt-out is after the 4th year of the new contract). The new contract does not begin until after next year.
In case you are better at math then at reading… 4 + 1 = 5.
Reading is fun!!!
July 8th, 2006 at 2:15 pm
Ryan, like me, I believe you’re also guilty of being unable to read…I corrected myself.
But getting back to the point, James is gone after the fourth year of the extension. So if I was in Ferry’s shoes, immediately after the ink dries on the 12th, I’d now start making a major concerted effort and make all sorts of personnel moves without giving a damn what James’ opinion is. The shackles are off. The entire organization has had to wear kid gloves while tip-toeing around and worrying about making certain that James and his posse were pacified. Mission accomplished. The franchise’s attitude should now be a cold “Screw ‘em.”
July 8th, 2006 at 2:53 pm
That’s idiotic, Alan Tucker.
He’s the cornerstone of the franchise and while he should supercede the GM, to blatantly antagonize him and those around him now that they have an extension…that’s stupid beyond belief.
How old will he be at the end of this extension, genius?
(giving you time to think about it)
Right. He’ll still be in the early prime of his career, barring injury. Don’t you think they’ll have a mind to sign him to another contract when this one’s nearing its end?
And why does it bother you that an owner, knowing smart business, would kowtow to his star player, family and inner circle? Glad you’re not the GM.
July 8th, 2006 at 2:55 pm
Another thing…why assume he’s leaving at the end of his extension? Such a loser attitude.
I love how people like you love to hate all day long, then celebrate when the team succeeds, claiming you were a fan all day long. The guy just agreed today and already you’re trying to soil the moment? “Fans” like you make me sick.
July 8th, 2006 at 3:25 pm
Does anyone want to renew Alan Tucker’s contract?
July 8th, 2006 at 5:07 pm
Scientific, or Unscientific, James’ agent insisted upon an opt-out provision for a reason. It wasn’t because they like the attractive font printed on the paper. If Vegas ever sets odds for James opting out of the contract and playing for the New York Knicks or the Brooklyn Nets in 2011, I will be the first guy in line to place my bet.
July 8th, 2006 at 5:32 pm
Can you go to Vegas now and see?
July 8th, 2006 at 5:56 pm
No, thank you. Online betting makes a trip to Vegas only good to see a show.
I really do think they’ll eventually set odds for it. Why not? People will bet on anything. They set odds for everything else, why not set odds for James opting out of his contract in 2011? I think it’s a pretty smart bet. Certainly nowhere as iffy as the bet I placed online yesterday. At odds of -180, I bet $50 that Phil Spector will be found guilty at trial.
July 8th, 2006 at 7:35 pm
Thanks, Brian, for clarifying the ‘opt-out’ clause in your just-posted article (”if it follows the framework of previous maximum contracts, it will include a clause that allows James to opt out of the final year of the deal, in June of 2011.”). We’ll see if his contract is no different from any of the other max superstars. Whatever it says, I’m sure the media will make more of it with James than with anyone else…
July 8th, 2006 at 7:51 pm
gee, mr. tucker is wrong twice in the same day! not a record by him, sadly, but merely par for the course…
please read this slowly, mr. tucker or better yet have the person nearest to you read it and explain it to you. here’s windy’s quote : “if it follows the framework of previous maximum contracts, it will include a clause that allows James to opt out of the final year of the deal, in June of 2011.”
did you see how the phrase began with the word “if?” and did you notice how the phrase is referencing “previous” max contracts? that means that all max contracts have an out-clause. so, your assertion, based on ummm..nothing, is wrong. his agent didn’t get anything unique or special for LBJ. just the same normal max contract as for everyone else in the nba who’s lucky enough to get one.
perhaps we’ll be lucky and you’ll opt out from this comment section??
July 8th, 2006 at 10:09 pm
Hey, Alan: paranoia’s unhealthy.
The fact that on the day he agrees to the extension, you’re more interested in being proven right on a silly prediction than discussing the team and his impact on it…that’s just pathetic. I’ll never understand people like you, whose enjoyment of sports seems to be directly derived from the amount of misery you feel (and seem to want to spread like a sickness).
Opt-out clauses aren’t always used and you have no frickin’ idea at all what will happen. I’ll worry about that in a few years; for right now, he’s a Cavalier long-term and I’ll focus on the team trying to win a championship - not you trying to win a bet.
July 9th, 2006 at 4:25 am
It is interesting that the people who should be eating crow about LeBron re-upping have instead “modified” their predictions. Five years (or six, depending)is nearly forever in the NBA. Let’s let the contract play out instead of already speculating that LeBron will leave (or demand to be traded) in _________ years.
As a clarification, anyone who sees something sinister in the opt-out clause didn’t read Brian’s post very clearly. Did Ira Newble secure an opt-out expecting (upon signing a long-term contract) that he would be leveraging the Cavs to trade him? That seems unlikely, doesn’t it?
This seems like a way for a player to evaluate — heading into his final contract year — whether he can get more money with his current contract or by renegotiating.
July 9th, 2006 at 9:44 am
to both kevin and scientific,
bravo and well-said. this little group is shaping up to having some of the more intellingent cavs commentors i have found on-line. kudos to you all…
July 9th, 2006 at 12:06 pm
Kevin, please…Use your good sense. There is a collective bargaining agreement. This isn’t Major League Baseball. There are no dollars to negotiate. The max is the max. There is only one reason that James’ agent plastered in an opt-out clause for 2011.
July 9th, 2006 at 2:33 pm
You know the more and more I read these comments, the more and more I think Alan should try to get a scribe job with the PD. He is about as accurate and has such the doomsday philosophy as some of their writers. Hopefully, you can do your job as well as you seem to do everyone elses, such as Brian’s, Danny Ferry’s, any NBA exec, so on and so forth.
July 9th, 2006 at 3:11 pm
Which, of course, skirts the issue of that opt-out clause. Why would an agent insist upon the clause unless they intend to eventually use it?
Five years before James leaves for bigger things. As capped out as they are, I don’t see how they can truly improve without making some drastic changes…I did notice that Ilgauskas is now on vacation in Israel. Hopefully Ferry can sell his contract to Tel Aviv. That would be a terrific start.
July 9th, 2006 at 3:17 pm
Friends,
The best way to get rid of trolls is to ignore them. I hope you can use my sage advice.
Here’s to five more great years with LeBron!
July 9th, 2006 at 3:47 pm
Alan, I am a closet fan of yours, but you do need some CBA refreshing.
The max changes based on how many years you have been in the league. In 05-06, the max salary for a player with 0-6 years exeperience was 12 million dollars, a guy with 7-9 is 14.4 million, and 10+ is 16 million.
Those numbers also change every year to a predetermined minimum, or a % of the salary cap since that changes as the BRI changes.
Granted, on the LeBron scale we’re talking about pennies difference, and I do share some of your thoughts that this is his last deal as a Cavalier…
July 9th, 2006 at 4:51 pm
Dick, that was my point. Granted, I admit your knowledge of the CBA specifics dwarf my own, but when it comes to money on the LeBron max scale, we’re talking the price of celery sticks.
Dick, I must say that it is extremely refreshing to read your realism here. And I will now make a public pledge: In the summer of 2011, if James does not opt out of his contract to sign with the Knicks or the Nets, I will become the first 50-year-old man to swim the entire length of the Cuyahoga River in the nude.
July 9th, 2006 at 6:25 pm
I doubt that you would be first.
Also, the prospect of facing that disturbing image is enough to make LeBron want to leave (a self fulfilling prophecy of sorts).
July 9th, 2006 at 6:44 pm
Actually, for an older guy, I’m in pretty good shape. Besides, I don’t think LeBron will need additional incentive in the form of my wang floating in the Cuyahoga. I think Nike and other corporations will provide any added incentive he’ll require.
But seriously, how is this team going to improve with the five years it has left with James? He can’t do it all. With the possible exception of Hughes, the guys with the largest salaries would bring nothing more than marginal role players in return.
July 9th, 2006 at 8:22 pm
sweet jesus, tucker, how many times does this have to be pointed out to you?
let me go slowly:THERE IS ZERO PROOF THAT LBJ’S AGENT “PLASTERED” IN AN OPT-OUT CLAUSE!!
do you actually *read* what brian posts or do you just come here to re-read what you’ve posted and pat yourself on the back for stringing some semi-coherent phrases together??
MOST ALL MAX DEALS HAVE OPT OUT CLAUSES!!! THIS MAKES LBJ’S CONTRACT NOT THE LEAST BIT UNIQUE!
thusly, one CANNOT read ANY inference or draw ANY conclusions about LBJ or his agent’s plans for 5 years from now based on the opt-out clause!!
get it?
would somebody please try and see if he can be swayed by reason? i fear it is impossible but for all of our sakes, try!
July 9th, 2006 at 9:05 pm
Uh-oh, ESPN now says it is a 4 year deal with an opt-out after year 3. *sigh*
July 9th, 2006 at 9:26 pm
The ESPN article has errors. It is not possible have a player opt out after three years, only after 4 years. The CBA does not expire until 2012.
http://www.nbpa.com/cba_articles/article-XII.php#section2