Still want to call Abe Pollin cheap?

by Rook6980 on Feb 18, 2009 7:22 PM EST

The Wizards have $76,157,670 committed for salaries in 2009-2010

The salary for the # 1 pick in this year’s draft would be $4,152,900

Assuming the Luxury Tax for next year is the same as this year ($71.15 million); that would put the Wizards about $9.2 Million over the tax…

Add the Dollar-for-Dollar tax ($9.2 Million) and the fact they would not receive the TAX payment (estimated $5 Million, or more)…

The cost of NOT Trading Butler or Jamison could end up costing Abe about $23.4 Million dollars

Still think he's cheap?

This represents the view of the user who wrote the FanPost, and not the entire Bullets Forever community. We're a place of many opinions, not just one.

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Still a couple hours to go

but yeah, it doesn’t look like it’s happening.

rockin' the crab dribble since 2009

by hibachi on Feb 18, 2009 8:56 PM EST reply actions

this

is all assuming we keep the pick as well

by joshp on Feb 18, 2009 9:11 PM EST reply actions

And thats a big assumption

Ivan Carter thinks theres a good chance we deal the pick

by morethesamewiz on Feb 18, 2009 10:50 PM EST up reply actions

I think I might seriously consider quitting on this team and never watch another game. There’s a good chance that we have to blow up this team in the near future anyway, so why would we trade a possible building block away?

rockin' the crab dribble since 2009

by hibachi on Feb 18, 2009 11:28 PM EST up reply actions

Dealing the pick

only saves $ 8.2 Million…………. ($4.1 Million for the Rookie Salary + $4.1 for the Tax)…

Unless the Wizards dump salary NOW – Abe is paying Tax next year.

Bullets Forever - where "Dagger ! " happens......

by Rook6980 on Feb 18, 2009 11:30 PM EST up reply actions

I think it just goes with being a franchise owner.

by pantslessyoda1 on Feb 18, 2009 9:56 PM EST reply actions

This post is at least a day too early, and probably several months too early.

by Aldo on Feb 18, 2009 11:09 PM EST reply actions

Several months?

If the Wizards don’t do a salary dump by tomorrow at 3pm, Pollin WILL have to pay Luxury tax next year.

There’s no way to dump salary over the summer, or next year…..

Now, he might be able to sell the #1 pick and save the Rookie salary, but they’ll still be more than $5 Million over the Luxury Tax next year. Add to that the dollar-for-dollar tax, and the loss of the Tax payment (assumed to be more than $5 Million) – and even if Ernie Grunfeld sells the 1st round pick, it will cost Abe $15 Million.

Bullets Forever - where "Dagger ! " happens......

by Rook6980 on Feb 18, 2009 11:29 PM EST up reply actions

There is a way to cut costs, because the tax gets caluclated at the end of the year

But since this is the last time to trade for contracts that expire in 2009, you can’t really cut all that much after this year’s deadline.

You know you'll get devoured by Cheaney, Wallace, and Juwan Howard.

by Mike Prada on Feb 19, 2009 2:16 AM EST up reply actions

What If?

What if Ernie sold the draft pick? Might that fetch a pretty penny, or at least enough to offset most of the cost of the luxury tax?

"It's OK for the Bullets to trade baskets, as long as they can score on their end." -- Words of wisdom from Phil Chenier

by cuppettcj on Feb 19, 2009 8:06 AM EST reply actions

Wow

Talk about being cheap….. THAT would verify it for me.

Bullets Forever - where "Dagger ! " happens......

by Rook6980 on Feb 19, 2009 10:15 AM EST up reply actions

Johnnie Futbol

I think the most cash that can be involved in a trade is $3 Million (i’m not absolutely certain though), not enough to make up for the $$ Pollin is committing to pay by not making a trade before today’s deadline..

by Johnnie Futbol on Feb 19, 2009 10:24 AM EST up reply actions

Can You Provide a Link?

I would like to believe you, but if Abe really is as stingy as everyone makes him out to be, I wouldn’t be surprised if he called for this. Also, does the $3 million limit apply to picks as well as players?

"It's OK for the Bullets to trade baskets, as long as they can score on their end." -- Words of wisdom from Phil Chenier

by cuppettcj on Feb 19, 2009 10:26 AM EST up reply actions

sorry for the delay

go to question 82:

http://members.cox.net/lmcoon/salarycap.htm#Q82

The Wizards could sell the pick for $3 million. The amount couldn’t be increased even if players were packaged in the trade. So the most they can get for the pick is $3 million, not nearly enough to make up for the luxury tax hit they have set themselves up for.

by Johnnie Futbol on Feb 19, 2009 4:33 PM EST up reply actions