What is the Raptors financial situation right now (cap space (if any now), etc.)?

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Old 07-16-2008, 03:40 AM   #1 (permalink)
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What is the Raptors financial situation right now (cap space (if any now), etc.)?

If someone could just thoroughly explain our situation, like is there any way or circumstance we could put ourself in to sign a good or moderately good player...
or are we just done?

I heard something about how BC has signed Garbo back to trade him (sign & trade). And I don't get the mid-level exception, would we have to pay luxury tax or something to use that $5.5-$6 million? Is BC planning to even use it? And does anyone know the MLSE stance right now on giving BC luxury tax money to sign a sick player?

It would really help me and perhaps some others if these things were explained!

On hoopshype, here's the Raptors salaries of players and how much we've spent already; http://hoopshype.com/salaries/toronto.htm
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Old 07-16-2008, 09:19 AM   #2 (permalink)
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Short answer is assuming that Jose's contract is 8 million per leaves the payroll at about 68.7 million, leaving about 1.7 million before luxury tax. Garbos buyout will not count against the tax so that should leave around another 2 million meaning that the team has about 3.5 million left. I dont think any of the MLE was used except for the 500,00 or so on Adams meaning the Raps have about 4.5 million left TOPS and that is if they goi into tax. That should be just enough to sign Banks, House or Nachbar.
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Old 07-16-2008, 10:46 AM   #3 (permalink)
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Originally Posted by SnoochieBoochie View Post
Short answer is assuming that Jose's contract is 8 million per leaves the payroll at about 68.7 million, leaving about 1.7 million before luxury tax. Garbos buyout will not count against the tax so that should leave around another 2 million meaning that the team has about 3.5 million left. I dont think any of the MLE was used except for the 500,00 or so on Adams meaning the Raps have about 4.5 million left TOPS and that is if they goi into tax. That should be just enough to sign Banks, House or Nachbar.
I thought much of the MLE was used on Roko as well, no?
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Old 07-16-2008, 12:05 PM   #4 (permalink)
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No I dont think so, because we still had the rights to him through the draft pick years ago his contract will be still a rookie scale contract which will not count against the MLE or the luxury tax. I'll see if I can find proof cause Im only like 90% sure.
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Old 07-16-2008, 12:54 PM   #5 (permalink)
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No I dont think so, because we still had the rights to him through the draft pick years ago his contract will be still a rookie scale contract which will not count against the MLE or the luxury tax. I'll see if I can find proof cause Im only like 90% sure.
He was 2nd round though.

So does that not mean that he wouldn't necessarily be on a rookie deal?

I could be wrong. But I thought when you stash a 2nd rounder overseas that you had to actually negotiate a contract with him.
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Old 07-16-2008, 01:07 PM   #6 (permalink)
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http://thestar.blogs.com/raptors/200...y-the-mai.html

Quote:
Q: Doug if a team picks a long-term 'prospect' in the first round that they wish to leave in Europe (or wherever) for a year or 3, do they still have to sign and pay them right away? If they don't have to sign them right away then once they do it is for 3 years with a team option? Thanks.


Mike K, London

A: No, they don’t have to sign them, or pay them at all. But they do remain a team’s property in perpetuity. And once they sign, it’s for the standard rookie-scale contract.
I know that its only from Doug Smith, but he's usually pretty acurate about these things.
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Old 07-16-2008, 01:36 PM   #7 (permalink)
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Roko was a 2nd round pick. The rules are different for them - the team needs to have cap space or use the exceptions. See Arenas @ Golden State.
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Old 07-16-2008, 01:40 PM   #8 (permalink)
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Originally Posted by SnoochieBoochie View Post
http://thestar.blogs.com/raptors/200...y-the-mai.html



I know that its only from Doug Smith, but he's usually pretty acurate about these things.
Yeah...as MikeToronto just said, the key words in that question are "first round"
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Old 07-16-2008, 01:47 PM   #9 (permalink)
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Like I said Im not sure but I havent been able to find anything saying otherwise, if someone could show me where to find out otherwise it would be cool.
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