Jerome James: Our Savior on BG?

[dougthonus]

The important thing is that Jerome James gets to retire as a Bull.

I propose we hang #31 from the rafters...or a giant chocolate chip cookie.

The Jerome James snack bar on the 300th level seems like a fitting tribute.

[McBulls]

Very good news. If true.

[TheStig]

The important thing is that Jerome James gets to retire as a Bull.

I propose we hang #31 from the rafters...or a giant chocolate chip cookie.

The Jerome James snack bar on the 300th level seems like a fitting tribute.

I hope they don't comp the namesake, they will surely go bankrupt then and there will be a lot of hungry customers.

[Beryl 96]

Stig...you a Top Gear fan?

[TheStig]

Stig...you a Top Gear fan?

oh yeah, love the show. Well the real one, not the Russian or Australian bs.

[mjaye]

Link: 53. How do retired players count against the cap?

Teams are not allowed to trade for disabled players and then apply for this salary cap relief. Only the team for which the player was playing when he was disabled may request this relief.

The Bulls would be walking a fine line..

If James medically retires, he is no longer a tradeable asset. James' contract is VERY attractive as a trade asset, not only because it's expiring, but also because 80% is covered by insurance.

Medical retirement only works to the Bulls favor IF they are granted salary relief. James will have to be medically retired for one year before the Bulls can apply for salary relief.

If the Board rules the injury that disabled him to the point of medical retiirement was prior to being traded, the Bulls get no salary relief (IE lux tax breathing room).

If you want an idea of how this might play out, keep an eye on December 11th, 2009, it's the date the New York Knicks can officially request salary relief for Cuttino Mobley's medical retirement.

IMO the wording of the rule indicates the Bulls wouldn't get the relief.

[mjaye]

Another thing to keep in mind...

According to Sham's website, JJ's salary for next season is $6.6mil, the Bulls are saving $5.28mil that insurance will cover. Since this does nothing to effect the cap, you basically have:

2[(Team salary + Ben Gordons Contract) - (Salary Cap)] - (80% saved on JJ's contract)
=
Actual cost Bulls will pay out of pocket in lux tax if they were to use the 80% they saved on JJ's contract and put it towards the cost of lux tax.

For instance

2[($66mil + $6 mil) - $69mil] - $5.28mil = $720k!

That's the total cost the Bulls would actually pay out of pocket if they put that 80% towards paying the lux tax and didn't make any moves. The Bulls could definitely make a trade or two to free up $720k ... if JR wants to be under the Lux tax to receive the payout from the teams paying into it, well then... that's another story and this won't mean two squirts to him.

*This doesn't take into account rookie contracts that we may take on during draft day. The Bulls have three non-guaranteed contracts though I'm not sure how much (if any) of them are guaranteed.

[Beryl 96]

Stig...you a Top Gear fan?

oh yeah, love the show. Well the real one, not the Russian or Australian bs.

Yah same, that and man vs. wild are the only shows i watch on tv.

[BrooklynBulls]

Top Gear's great, and Man vs. Wild is the most non-intentionally hilarious show on TV.

[TheStig]

Stig...you a Top Gear fan?

oh yeah, love the show. Well the real one, not the Russian or Australian bs.

Yah same, that and man vs. wild are the only shows i watch on tv.

never seen man vs wild, I will have to check it out, what channel is it on?

[Tommy Udo 6]

Link: 53. How do retired players count against the cap?

Teams are not allowed to trade for disabled players and then apply for this salary cap relief. Only the team for which the player was playing when he was disabled may request this relief.

The Bulls would be walking a fine line..

If James medically retires, he is no longer a tradeable asset. James' contract is VERY attractive as a trade asset, not only because it's expiring, but also because 80% is covered by insurance.

Medical retirement only works to the Bulls favor IF they are granted salary relief. James will have to be medically retired for one year before the Bulls can apply for salary relief.

If the Board rules the injury that disabled him to the point of medical retiirement was prior to being traded, the Bulls get no salary relief (IE lux tax breathing room).

If you want an idea of how this might play out, keep an eye on December 11th, 2009, it's the date the New York Knicks can officially request salary relief for Cuttino Mobley's medical retirement.

IMO the wording of the rule indicates the Bulls wouldn't get the relief.

First, the guy who wrote those answers is the guy who answered my question about LUXURY TAX.

I am not concerned about salary cap. I know that JJ's salary will count against Bulls cap.

That is not the issue. The issue is whether JJ's salary will count when the LUXURY TAX is determined on June 30, 2010 (if JJ is still on the Bulls salary).

By the Way - there is a thread on Mobley on the same Forum & Larry Coon writes this: However, the Knicks are not eligible for a DPE or salary cap relief. They're also applying for luxury tax relief, and that's a Board of Governors decision.

See - it all boils down to the Board of Governors decision. Larry's comment in my original posting is "the Board of Governors can exclude the salary of disabled players from the luxury tax, and typically does so"

I wouldnt have started this thread if i didnt have a comment direct from larry Coon. I know it's not a clear cut issue

[jax98]

Coldfish nailed it (minus the screw BG, comment ) - Jerome James is now the best trade asset you have on this team, outside of Derrick Rose. He earns $6.6 million next year which, if traded to a team in luxury tax problems, can save them a tremendous amount of money next year. We can get a high-quality player if the team in question is bleeding enough financially.

This could also be an excellent asset to an Amare/Bosh trade.

Good post 6.

[mjaye]

Link: 53. How do retired players count against the cap?

Teams are not allowed to trade for disabled players and then apply for this salary cap relief. Only the team for which the player was playing when he was disabled may request this relief.

The Bulls would be walking a fine line..

If James medically retires, he is no longer a tradeable asset. James' contract is VERY attractive as a trade asset, not only because it's expiring, but also because 80% is covered by insurance.

Medical retirement only works to the Bulls favor IF they are granted salary relief. James will have to be medically retired for one year before the Bulls can apply for salary relief.

If the Board rules the injury that disabled him to the point of medical retiirement was prior to being traded, the Bulls get no salary relief (IE lux tax breathing room).

If you want an idea of how this might play out, keep an eye on December 11th, 2009, it's the date the New York Knicks can officially request salary relief for Cuttino Mobley's medical retirement.

IMO the wording of the rule indicates the Bulls wouldn't get the relief.

First, the guy who wrote those answers is the guy who answered my question about LUXURY TAX.

I am not concerned about salary cap. I know that JJ's salary will count against Bulls cap.

That is not the issue. The issue is whether JJ's salary will count when the LUXURY TAX is determined on June 30, 2010 (if JJ is still on the Bulls salary).

By the Way - there is a thread on Mobley on the same Forum & Larry Coon writes this: However, the Knicks are not eligible for a DPE or salary cap relief. They're also applying for luxury tax relief, and that's a Board of Governors decision.

See - it all boils down to the Board of Governors decision. Larry's comment in my original posting is "the Board of Governors can exclude the salary of disabled players from the luxury tax, and typically does so"

I wouldnt have started this thread if i didnt have a comment direct from larry Coon. I know it's not a clear cut issue

The only problem I see with your question that Larry Coon answered is you failed to mention JJ suffered the injury PRIOR to being traded, you're assuming he knew this and responded accordingly.

viewtopic.php?f=24&t=907734&start=120

That's the thread about Mobley, more specifically Larry says (the 3 he mentions is in reference to Lux tax relief)

"I hear they're applying for 3, and that's a Board of Governors decision. I don't know if this one has a similar restriction to 1 & 2 (it's not in the CBA). If it can only be claimed by the team that had the player at the time, then the Knicks will be ineligible for this one too."

I don't recollect there being a precedent set where a team was granted lux tax relief but not salary cap relief for a medically retired player that suffered the injury on a previous team. Larry confirms that this is a gray area because luxury tax relief is not clearly outlined.

Reading back a page it's also stated (by kosmovitelli)

For trade purposes, the contract may have value because it's insured but there are no luxury tax savings with Mobley (or any other injured player). That's for sure. It was a loophole in the previous CBA (1999-2005) but the current CBA took care of that.

This would seem to indicate the Lux tax relief is bound by the same rules as Salary cap relief.

I'm holding out the same hope that we will be granted lux tax relief for JJ's contract, but i'm not holding my breath. I also mentioned a few posts above how keeping JJ's contract can actually benefit Bulls when it comes to signing BG

[coldfish]

Interesting info mjaye. That certainly throws a wrench in the works.

[ControlMachete]

If this is true we could certainly get Amare for the TT's and JJ since this deal saves them around $ 11M and nobody knows how that eye injury is going to heal. It's a great deal for us even if it kills all hope of resigning BG.

Noah - Miller
Amare - # 16 (Hansborough?)
Deng - # 26 (Budinger?)
Salmons
Rose - Hinrich

This looks like a great rotation to me.

[Beryl 96]

Man Vs. Wild is on Discovery.

As for JJ, hopefully this works out. If JJ does retire and the bulls don't resign BG and give some lux tax excuse, I'll be angry.

[ChiCitySPORTS#1]

niceeeeeee

[fleet]

I've asked Larry a follow up question, about whether the same benefit could be carried over to a team if there's a trade. If so, that would really enhance his value in a trade to a team like Phoenix that would love to get under the tax.

and the mysterious Larry still hasn't answered your question grasshopper. Which is just like a revered guru to disappear when you want him to finish the lesson. The wise blind SOB.