Jerome James: Our Savior on BG?

musiqsoulchild · Post #21 » by **musiqsoulchild** » Mon Jun 8, 2009 8:06 pm

Quick, does anyone have the letter sent by Portland to all the GM's.

If the JJ buyout happens, we may have to keep that letter on standby all of next season

Post #22 » by **Tommy Udo 6** » Mon Jun 8, 2009 8:08 pm

Ralphb07 wrote:So James would have to retire as a Bull this year? I'm a little confused

he would have to medically retire as a Bull. Salary counts against cap - but (per Larry Coon) salaries of players who are forced to medically retire are typically excluded from Lux Tax total.

Thus, if Lux Tax next year is $70 million (example) & Bulls payroll is $76 million, they would not pay Lux Tax if JJ's salary is excluded from Lux Tax.

Basically it means we can sign BG & draft 2 first rounders - and still beat the tax.

Ralphb07 · Post #23 » by **Ralphb07** » Mon Jun 8, 2009 8:13 pm

Tommy Udo 6 wrote:
Ralphb07 wrote:So James would have to retire as a Bull this year? I'm a little confused

he would have to medically retire as a Bull. Salary counts against cap - but (per Larry Coon) salaries of players who are forced to medically retire are typically excluded from Lux Tax total.

Thus, if Lux Tax next year is $70 million (example) & Bulls payroll is $76 million, they would not pay Lux Tax if JJ's salary is excluded from Lux Tax.

Basically it means we can sign BG & draft 2 first rounders - and still beat the tax.

What and when do you find out if a player has to medically retire?

HitMan52 · Post #24 » by **HitMan52** » Mon Jun 8, 2009 8:15 pm

So if JJ does medically retire our lux tax threshold would really be at 76 milion (estimate) basically right.

Post #25 » by **Tommy Udo 6** » Mon Jun 8, 2009 8:18 pm

HitMan52 wrote:So if JJ does medically retire our lux tax threshold would really be at 76 milion (estimate) basically right.

I just used examples because next year's lux tax hasnt been set. It's $71.1 million for 6/30/09

Next year is expected to go down.

Of course, JJ must apply for the medical retirement but all reports that I read say that he is finished.

BR0D1E86 · Post #26 » by **BR0D1E86** » Mon Jun 8, 2009 8:20 pm

Now we've got to make sure James is declared medically unfit to play.

Did you ever see Jerome James play? I’m not sure he was ever fit to play, period.

Chewie · Post #27 » by **Chewie** » Mon Jun 8, 2009 8:24 pm

BR0D1E86 wrote:I’m not sure he was ever fit to play, period.

Isiah Thomas sez different.

Leto · Post #28 » by **Leto** » Mon Jun 8, 2009 8:26 pm

Wow...that is awesome. Two things. I'm very glad the Bulls maintained a good working relationship with BG by playing him as the starting SG (deservedly). It gives Ben a reason to want to be in Chicago. It makes our team sickeningly deep at SF, SG and PG with starter quality players 2 deep at those spots. As such, we retain the talent value to cash in for upgrades in the front court.

If we can't land Amare or Bosh, I'd be happy with pick swaps that move us into the top 10.

ShadowDweller · Post #29 » by **ShadowDweller** » Mon Jun 8, 2009 8:30 pm

Wasn't this an issue when he was with the Knicks? If I recall correctly they wanted him to apply for the medical retirement and he refused. If that's the case hopefully he has changed his mind.

Post #30 » by **coldfish** » Mon Jun 8, 2009 8:42 pm

Heh. Screw BG. That contract is liquid gold if this is true. New Orleans and Phoenix would kill for it as JJ himself would save them $10+M cash this year. That contract is the ultimate trading chip this summer.

biggestbullsfan · Post #31 » by **biggestbullsfan** » Mon Jun 8, 2009 8:47 pm

coldfish wrote:Heh. Screw BG. That contract is liquid gold if this is true. New Orleans and Phoenix would kill for it as JJ himself would save them $10+M cash this year. That contract is the ultimate trading chip this summer.

That sounds like a ransom. We kidnapped JJ and are hlding him for Amare, bosh or equal cash value.lol

Cliff Levingston · Post #32 » by **Cliff Levingston** » Mon Jun 8, 2009 9:02 pm

Wouldn't this just be the amnesty rule? Cliff Levingston thought each time had the option of cutting someone each year and thus being able to exclude their salary from the luxury tax calculation... or is Cliff Levingston just hallucinating?

ballerkingn2 · Post #33 » by **ballerkingn2** » Mon Jun 8, 2009 9:05 pm

ShadowDweller wrote:Wasn't this an issue when he was with the Knicks? If I recall correctly they wanted him to apply for the medical retirement and he refused. If that's the case hopefully he has changed his mind.

Yes it was,but i think he felt he could of played,and then coach i. thomas,said no your not in good enough shape after i think he got hurt. Gave him the marbury treatment and said stay home. So he basically got a lottery ticket, and has prob eaten himself out the league a la mike sweets. It will prob thou be up to our doctors and him to find a way to make it look like a medical retirement. Which is prob in his best interest,being that if he just plans retire he doesn't get all his money,i think medical retirement he gets all his cash.

kyrv · Post #34 » by **kyrv** » Mon Jun 8, 2009 9:28 pm

Can someone send this to the Bulls?

Post #35 » by **Tommy Udo 6** » Mon Jun 8, 2009 9:32 pm

Cliff Levingston wrote:Wouldn't this just be the amnesty rule? Cliff Levingston thought each time had the option of cutting someone each year and thus being able to exclude their salary from the luxury tax calculation... or is Cliff Levingston just hallucinating?

Amnesty rule was just a one year thing. It was passed as a favor for the Knicks - and called the Allan Houston Rule. However, NY used the amnesty on Jerome Williams (JYD) and then gained twice when Allan Houston was forced to medically retire.

Bulls were not close to Lux Tax, but used it on Eddie Robinson

Slackerr · Post #36 » by **Slackerr** » Mon Jun 8, 2009 10:35 pm

So... just to make sure... JJ's contract is 80% paid for while also not counting against the lux tax?

SlimD235 · Post #37 » by **SlimD235** » Mon Jun 8, 2009 10:43 pm

Let's get Gortat with Jerome's money!

klvanzu · Post #38 » by **klvanzu** » Mon Jun 8, 2009 10:57 pm

Cliff Levingston wrote:The important thing is that Jerome James gets to retire as a Bull.

lmfao - seriously that made me giggle

TB#1 · Post #39 » by **TB#1** » Mon Jun 8, 2009 11:07 pm

Cliff Levingston wrote:The important thing is that Jerome James gets to retire as a Bull.

There's still no assurance that the induction committee for the Hall of Fat would elect him in as a Bull.

Post #40 » by **Tommy Udo 6** » Mon Jun 8, 2009 11:20 pm

Slackerr wrote:So... just to make sure... JJ's contract is 80% paid for while also not counting against the lux tax?

Maybe - first part is definite: 80% paid. Second part is what i am trying to learn. Larry Coon says that disabled players are typically excluded from counting. That would be a huge plus.

Now the injury didnt happen when he was on the Bulls - but I think the Bulls can argue that they they didnt "know" that he would be forced to quit.

I am asking the experts because i dont know - and I was lucky that I caught Mr Coon on the Forum when I asked the question.