OFFICIAL: Garbajosa Bought Out By Raptors - Page 2
Old 06-12-2008, 08:52 AM   #21 (permalink)
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Well, somewhat a confirmation in today's papers regarding Garbo. Not official yet, but very likely.

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Originally Posted by Toronto Sun
Jorge Garbajosa may have played his last game for the Raptors.

According to Spanish media reports, the Raptors are trying negotiate a buyout of the final year of Garbajosa's contract, worth $4.35 million US.

Garbajosa spent the majority of the past season recovering from a gruesome leg injury suffered in March 2006. The Raptors filed a lawsuit against the Spanish basketball federation in March, over money they felt they were owed on an insurance claim against Garbajosa's contract.

Raptors president and GM Bryan Colangelo said yesterday the team still was trying to come to a resolution in the case, but that he couldn't comment further.
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Old 06-14-2008, 12:51 PM   #22 (permalink)
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i think we should buy him out it's for the best it's to much of a risk to pay a player 4.5 million if he's not even healthy and is a constant problem, so i'm thinking if he buy him out for maybe 1-1.5 mill we have 3 mill left to add to our mls and we can use it to have 9 million instead or 6 mill to use on a major free agent that includes jose's signing at about 9-9.5 million
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Old 06-14-2008, 01:23 PM   #23 (permalink)
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I thought buyouts are for more like 70%+ of the original amount. And buyouts are purely financial measures, they have no impact on cap-space (unless he gets to some other team - not 100% sure about that).
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Old 06-14-2008, 07:06 PM   #24 (permalink)
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about time ...
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Old 06-14-2008, 07:08 PM   #25 (permalink)
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This actually saddens me. He's probably gonna go down as one of my favourite Raptors of all time.

I know he was athletically challenged, but his IQ and his ability to play without the ball just made me appreciate what type of a player he is.
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Old 06-14-2008, 07:54 PM   #26 (permalink)
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Quote:
Originally Posted by moremilk View Post
I thought buyouts are for more like 70%+ of the original amount. And buyouts are purely financial measures, they have no impact on cap-space (unless he gets to some other team - not 100% sure about that).
Buyouts ABSOLUTELY affect cap, regardless of whether or not the bought out player later signs with another team.

When the contract is bought out, the amount of the buyout is then spread evenly through the remaining years of the contract. Let's say, for the argument sake, that a player X is slated to play another two seasons at 10 mil/season. If the team buys him out for 14 mil, then in each of those two seasons only 7 mil will count against the team's cap rather than 10.
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Old 06-14-2008, 10:23 PM   #27 (permalink)
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Poor guy, he was hoping to return soon after the horrible injury, and now he's leaving. Very saddening.
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Old 06-14-2008, 10:37 PM   #28 (permalink)
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Quote:
Originally Posted by MikeToronto View Post
Buyouts ABSOLUTELY affect cap, regardless of whether or not the bought out player later signs with another team.

When the contract is bought out, the amount of the buyout is then spread evenly through the remaining years of the contract. Let's say, for the argument sake, that a player X is slated to play another two seasons at 10 mil/season. If the team buys him out for 14 mil, then in each of those two seasons only 7 mil will count against the team's cap rather than 10.
looks like you're right - I always thought buyouts are done just to save money. I wonder why it's not used more often in the league - unless it's hard to get players to agree to get significantly less money. Probably only players who still have a chance at another contract would take a significant paycut.
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Old 06-17-2008, 04:22 PM   #29 (permalink)
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Default It's official: Garbo Done as a Raptors

According to Spanish papers its now official that Jorge been bought out by the Raptors.

Best of luck Garbo.

Poor translation to follow:

Quote:
Originally Posted by marca.com
Jorge Garbajosa terminated its contract with the Toronto Raptors, for which that of Torrejón will be able to respond to the Olympic Games of Beijing if Aíto Garcia Reneses considers the opportune. In this way the conflict among the Spanish Confederacy of Basketball is resolved (FEB), the Canadian franchise and the player because the three parts have arrived at an agreement to withdraw the demands related to the insurance signed by the player for respond to the European.

Garbajosa has terminated the year of contract that remained in Toronto and will be able to respond to the Play of Beijing 2008 with Spain, aside from deciding their next destiny once untied of the American club, to the time that the Raptors, the Mutual one and the Confederacy also they leave satisfied by the pact reached, in which all they yield something and all they receive something to change.

Bryan Colangelo, president and general director of Toronto; José Luis Saez, president of the Spanish Confederacy of Basketball; Ignacio Garralda, president of the Mutual resident of madrid; and the own Garbajosa endorsed the documentation that plasma the commitment in the headquarters of the company insurance company, in the of Madrid Walk of the Spaniard.

The center was included in the list of Aíto Garcia Reneses for the Play since the first moment, but conditioned to the resolution of its situation in Toronto, whose president, Colangelo, he declared weeks ago that the player would not go to the Olympic appointment while had contract in vigor with the Canadian franchise. That I is no impediment.
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Quote:
Originally Posted by feb.es
6/17/2008 In a teletype of the agency Europe Press is indicated that the of Madrid Jorge Garbajosa terminated his contract with the Raptors of Toronto, to the ones that arrived originating in the Unicaja in the summer of 2006, as confirmed his representative, for which the player remains freed to sign with a new team and above all he is selectable by Aíto Garcia Reneses for the Olympic Games of Beijing.

Europe Press Garbajosa, that went to the NBA after to be elected better player of the end of the ACB of the season 2005-06, remains freed of the Canadian franchise, with the one that barely has played in barely year and a half and that its participation in the Play had denied him explicitly while was under its discipline. The cancellation of the contract has been possible thanks to the agreement signed today by the Spanish Confederacy of Basketball (FEB), Mutual of Madrid, the Raptors and the own player to extinguish the poliza of the insurance that permitted to Garbajosa to dispute the European of Madrid after the serious wound that suffered in the prior months..
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Old 06-17-2008, 05:15 PM   #30 (permalink)
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Originally Posted by Dr. J. Naismith View Post
According to Spanish papers its now official that Jorge been bought out by the Raptors.

Best of luck Garbo.

Poor translation to follow:



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Too bad! He was a good player to have with little athletic ability but some defensive ability and heart! I wish him good luck.
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Old 06-18-2008, 07:50 AM   #31 (permalink)
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shit.

We knew it was coming, but it's still tough to accept that his current state didn't have a place on the team.
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Old 06-18-2008, 09:49 AM   #32 (permalink)
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Doug reconfirming what I posted yesterday.

Quote:
Originally Posted by Doug Smith's Blog
Bye, bye Garbo

It’ll be official probably today, maybe tomorrow, when the league approves the buyout and then Garbo’s gone.

He won’t be back in the NBA, I’m certain, so who knows when we’ll see him next. I’ll get to see him in Beijing but if you want to watch him play, you’ll have to find some sort of internet Euroleague deal because I’ve got a feeling he’s playing in Madrid or Malaga.

A lot of you abhor the notion of a buyout but here’s why this one makes sense: The Raptors are certain Garbo will not be healthy enough to be a regular contributor this coming season. They will save a little bit of money and create a roster spot with the move. Garbo gets his money and, because he thinks he can play, he’ll sign somewhere in Europe and who knows how he’ll do.

The financial implications are not huge, it’s not like paying Alonzo Mourning $10 million knowing he’ll be in the NBA in a week or two; it’s paying maybe $3-4 million to a guy who’s out of the league.

You may think it sucks, and it’s really sad that this had to happen but it really is the best for all concerned.

Waiting for Garbo to play in the Olympics to see if he was fit wasn’t going to happen because the Raptors weren’t going to let him go to Beijing and maybe get hurt again. Waiting for him to come to camp to find out what he had didn’t make sense because now they know they have a roster spot to fill.

It eases the roster glut at small forward and with perhaps the departure of restricted free agent Carlos Delfino, will give Bryan Colangelo a lot of roster flexibility this summer.

It bits that he’s not here but it’s for the best.
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Old 06-18-2008, 10:35 AM   #33 (permalink)
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He had already said he wants to play in madrid or malaga. Good move for both parties.

Sad ending though.
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Old 06-18-2008, 10:38 AM   #34 (permalink)
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This is like Alvin Williams part II.
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Old 06-18-2008, 02:21 PM   #35 (permalink)
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except Alvin stuck around and set the team back massively for 5 years.
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Old 06-18-2008, 02:26 PM   #36 (permalink)
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Not to mention that Alvin was overpaid to make VC happy, while already injured. There is an equivalency in the sadness though. Both guys played too briefly, and were hard to replace.
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Old 06-18-2008, 02:29 PM   #37 (permalink)
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Garbo hard to replace?

I liked him.

He was a man.

He also shot about 30% from the 3pt line, was slow on defense, and cost the team waytoo much money on Razors
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Old 06-18-2008, 02:38 PM   #38 (permalink)
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My point was more that they are both guys who would rather die on the court than have someone tell them it's over.
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Old 06-18-2008, 02:51 PM   #39 (permalink)
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Ah - good clarification ACIE. Damn right.

And Garbo is very hard to replace. He played the game the right way and brought dividends. When a team knows they have a guy like him to fall back on in games, just to do the right things, it makes a big difference. Note how much less the Raps were dependent on Bosh when Garbo was there, as opposed to when he wasn't there. He knew where to be on the floor, he had great instincts, and he never gave up on anything. That's damn hard to replace - sad but true.
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Old 06-18-2008, 03:51 PM   #40 (permalink)
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I liked how he handled having his leg snapped.

he roared like Odin!
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