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Old 07-24-2013, 01:21 PM   #2 (permalink)
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A contract with an option can be extended if the player opts-in. A contract with an option can also be extended if the player opts-out, as long as the extension adds at least two new seasons onto the contract (excluding any new option year) and the salary in the first year of the extension is not less than the salary in the non-exercised option year.
NBA Salary Cap FAQ
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