Summer Contract — A Summer Contract’s primary importance is that it doesn’t count towards a team’s team salary. These contracts can only (i) be signed from July 1 until the day before the regular season and (ii) include compensation of $2,000 per week (pro rata), as well as per diem, lodging, transportation, and a disability insurance policy. These contracts cannot include any compensation protection. Teams must terminate Summer Contracts before the first day of the regular season, unless they have room to sign the player or are able to use the minimum player salary exception. Any Summer Contract that is not terminated before the first day of the regular season is then included in that team’s team salary. Non-Guaranteed Training Camp Contract — A Non-Guaranteed Training Camp Contract allows teams to terminate a player’s contract prior to the first day of the regular season and pay minimal amounts to that player. If the player is healthy but is cut anyways, he will receive the $2,000 weekly pay (pro rata) that players under Summer Contracts received. If the player is injured and cut, he will only receive $6,000.
Exhibit 10 Contract — A Uniform Player Contract that includes an Exhibit 10 allows teams to waive a player, but then pay that waived player a bonus of between $5,000 to $50,000 if they timely sign a contract with the team’s G league affiliate and play with that G league team for 60 days. The Exhibit 10 also allows teams to convert the contract to a Two-Way Contract prior to the first day of the regular season (without waiving the player) — this is called a “two-way player conversion option.” If a team converts the contract to a Two-Way Contract, then the bonus is converted into compensation protection. And because the Exhibit 10 allows the contract to be converted into a Two-Way Contract, the Exhibit 10 also includes the Standard NBA Contract Conversion Option.
10-Day Contract — A 10-Day Contract is one that has a term equal to 10 days or 3 games, whichever is longer. These contracts can only be signed on or after January 5 of any season, and cannot extend past the end of the regular season. The player’s salary in a 10-day Contract is pro-rated and cannot be less than his applicable minimum player salary. Terminating these contracts does not require following the waiver procedure. A team can only enter into a 10-Day Contract with the same player twice in any season. More importantly, a team can only sign a limited number of 10-day contracts, depending on the size and makeup of the team’s active and inactive lists. Rest-of-Season Contract — A Rest-of-Season Contract is one that is entered into at any time after the first day of the regular season and only provides compensation for the remainder of the season. The player’s salary is pro-rated and cannot be less than his applicable minimum player salary. Over 38 Contract — An Over 38 Contract is any contract that covers 4 or more seasons where the player is 38 years old or will turn 38 years old during the contract’s term. These contracts are relevant in that they have unique salary cap implications. Essentially, salary for the last year of a 4 or 5-year contract with a player that is 35 or older is re-allocated over prior seasons. Salary in this final year is basically treated like deferred compensation and attributable to prior salary cap years. So why does the CBA do this? As RealGM explains here, the Over 38 Contract rules are designed to prevent teams from pushing an older player’s salary into the final years of his contract (i.e., later salary cap years) in order to fit that player under the team’s then-current salary cap room.
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 Kyrie Irving opted in with the Nets. Bradley Beal opted out with the Wizards, though he's expected to return on an extension. Welcome to NBA player options season. (Scott Taetsch/Getty Images)
It’s that time of year again. With NBA free agency nearly upon us, it’s time to suss out who’s ready to exercise their contractual rights to return to their teams next season for a predetermined fee and who’s ready to nix those terms and hit the open market one season early. It’s NBA player option time. With superstars like Bradley Beal, Kyrie Irving, Russell Westbrook, James Harden, and John Wall all facing key decisions on their contract options for 2022-23, there are literally hundreds of millions of dollars on the line. So, who’s picking up their option? Who’s declining and opting out? Boardroom has all the answers below. Every NBA Player Option Decision for the 2022-23 SeasonReflects decisions as confirmed by player statements, team announcements, or sourced reporting as of June 29. Players are listed in descending order based on value of their 2022-23 options. All salary data via Spotrac. 1. Philadelphia 76ers PG James Harden: DECLINED
Based on a preponderance of reporting, James Harden was expected to exercise his 2022-23 option to remain with the 76ers. He ultimately opted out on June 29, but is likely to work with the team to negotiate a new extension. 2. Houston Rockets PG John Wall: PICKED UP; BOUGHT OUT
John Wall did exercise his player option for 2022-23 — the last season of the supermax deal he signed in the 2017 offseason — but subsequently agreed to a buyout with the Houston Rockets that saves the team just over $6 million. When the buyout is consummated, he’s expected to sign with the Los Angeles Clippers. 3. Los Angeles Lakers PG Russell Westbrook: PICKED UP
Russell Westbrook’s own supermax deal will now officially expire next summer upon news of his intentions to pick up his option and return to the Lakers to run it back with LeBron James and Anthony Davis. 4. Brooklyn Nets PG/SG Kyrie Irving: PICKED UP
There were rumblings of an opt-out and a sign-and-trade. NBA prognosticators looked on, ready to be spellbound. Then, Kyrie announced on June 27 that he’ll be back with the Nets next season to play out the final option year on the four-year contract he signed in the summer of 2019. Missed Kyrie earlier this summer on Boardroom’s “The ETCs” podcast with Eddie Gonzalez? Check out the full episode here: 5. Washington Wizards SG Bradley Beal: DECLINED
Bradley Beal will officially enter unrestricted free agency on June 30, but is reportedly likely to work out a five-year max deal with the Wizards worth as much as $248 million to remain in the nation’s capital as the undisputed No. 1 option. 6. Derrick Favors (Thunder), $10,183,800: PICKED UP 7. JaMychal Green (Nuggets), $8,200,000: PICKED UP 8. PJ Tucker (Heat), $7,350,000: DECLINED 9. Patty Mills (Nets), $6,184,500: DECLINED 10. Pat Connaughton (Bucks), $5,728,393: PICKED UP 11. Kendrick Nunn (Lakers), $5,250,000: PICKED UP 12. Cory Joseph (Pistons), $5,155,000: PICKED UP 13. Bobby Portis (Bucks), $4,564,980: DECLINED 14. Jeff Green (Nuggets), $4,500,000: PICKED UP 15. Nicolas Batum (Clippers), $3,328,530: DECLINED 16. Tony Bradley (Bulls), $3,300,000: PICKED UP 17. Trey Burke (Mavericks), $3,150,000: PICKED UP t-18. Thanasis Antetokounmpo (Bucks), $1,878,720: PICKED UP t-18. Svi Mykhailiuk (Raptors): $1,878,720: PICKED UP |
What is a player option in nba
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