Sign & Trade for Lebron
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From the Cavs website...
CLEVELAND, OH - July 10, 2010 - The Cleveland Cavaliers agreed to a sign-and-trade deal with the Miami Heat to acquire the rights to five future draft picks and receive a traded player exception for free-agent forward LeBron James, Cavaliers General Manager Chris Grant announced today. Per team and league policy, terms of the contract were not released.
"This deal provides us with multiple key assets and additional flexibility as we move forward for both the short term and beyond," said Cavaliers General Manager Chris Grant.
Cleveland now owns two of Miami’s first-round draft picks starting no earlier than 2013 and continuing through 2017, the Heat’s 2012 second-round pick from New Orleans, and the future second-round pick Miami acquired from Oklahoma City. Additionally, Cleveland will have the right to swap 2012 first-round picks with the Heat. The trade also gives Cleveland a very large trade exception, which the Cavaliers can now use in trades within one calendar year.
We didn't come up empty.
Mike
i heard about this earlier today on espn radio. this is just what the cavs need to rebuild for the future. good move, chris!
i heard about this earlier today on espn radio. this is just what the cavs need to rebuild for the future. good move, chris!
2 first round picks spread out over the next 7 years add to that they'll more than like be pick #30 its just another slap in the face.
I watched some video on the Heat home page, LeBron said after hearing what gilbert had to say he know's he made the right decision.
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i heard about this earlier today on espn radio. this is just what the cavs need to rebuild for the future. good move, chris!
2 first round picks spread out over the next 7 years add to that they'll more than like be pick #30 its just another slap in the face.
I watched some video on the Heat home page, LeBron said after hearing what gilbert had to say he know's he made the right decision.
nmills said:
2 first round picks spread out over the next 7 years add to that they'll more than like be pick #30 its just another slap in the face.I watched some video on the Heat home page, LeBron said after hearing what gilbert had to say he know's he made the right decision.
1) Keep in mind that those picks, coupled with our own #1 and/or player(s) can help us move up in the draft or in trades. It can help the Cavs future.
2) Who cares what Lebron thinks or says? He's gone. Gilbert is here & you have to love his passion.
Mike
IN DORSEY I TRUST -
nmills said:
2 first round picks spread out over the next 7 years add to that they'll more than like be pick #30 its just another slap in the face.I watched some video on the Heat home page, LeBron said after hearing what gilbert had to say he know's he made the right decision.
1) Keep in mind that those picks, coupled with our own #1 and/or player(s) can help us move up in the draft or in trades. It can help the Cavs future.
2) Who cares what Lebron thinks or says? He's gone. Gilbert is here & you have to love his passion.
Mike
1) Keep in mind that those picks, coupled with our own #1 and/or player(s) can help us move up in the draft or in trades. It can help the Cavs future.
2) Who cares what Lebron thinks or says? He's gone. Gilbert is here & you have to love his passion.
Mike
I get that, but Toronto got two 1st rd. picks next year and we get ours spread out over 7 years. It feels dirty to me.
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1) Keep in mind that those picks, coupled with our own #1 and/or player(s) can help us move up in the draft or in trades. It can help the Cavs future.
2) Who cares what Lebron thinks or says? He's gone. Gilbert is here & you have to love his passion.
Mike
I get that, but Toronto got two 1st rd. picks next year and we get ours spread out over 7 years. It feels dirty to me.
nmills said:
I get that, but Toronto got two 1st rd. picks next year and we get ours spread out over 7 years. It feels dirty to me.I agree with that. Hey Lebron, are ya reading?...Your buddy Bosh seems to be worth MORE than you are! How's your ego doing now?
What is this "very large trade exception"?? I don't understand that at all, but might it somewhat make up for the pick's timing?
Mike
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Traded Player Exception: If a team trades away a player with a higher salary than the player they acquire in return (we'll call this initial deal "Trade #1"), they receive what is called a Traded Player Exception, also known colloquially as a "Trade Exception". Teams with a trade exception have up to a year in which they can acquire more salary in other trades (Trade #2, #3, etc) than they send away, as long as the gulf in salaries for Trade #2, #3, etc are less than or equal to the difference in salary for Trade #1. This exception is particularly useful when teams trade draft picks straight-up for a player; since draft picks have no salary value, often the only way to get salaries to match is to use a trade exception, which allows trades to be made despite unbalanced salaries. It is also useful to compensate teams for losing free agents as they can do a sign and trade of that free agent to acquire a trade exception that can be used later. Note this exception is for single player trades only, though additional cash and draft picks can be part of the trade.
Toronto also got a trade exception, we got two 2nd rd. draft choices which the Raptors did not but wooowhoooo...how many guys become starters at the bottom of the 2nd rd.
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http://www.cleveland.com/cavs/index.ssf/20...settle_emo.html
Cleveland Cavaliers settle down, tentatively settle on LeBron James sign-and-trade deal with Miami Heat
Updated: Friday, July 09, 2010, 11:20 PM
Brian Windhorst, The Plain Dealer
CLEVELAND, Ohio -- Still recovering from the blow of losing LeBron James, the Cavaliers are starting the process of picking themselves up and moving on.
Thursday night, fans and members of the organization, especially owner Dan Gilbert, were brimming with anger. Apparently that was replaced with a business mindset on Friday as the team made a difficult but potential fruitful decision for the future.
According to league sources, after being approached by the Miami Heat the Cavs tentatively agreed to send James to his new team in a sign-and-trade deal. The Heat approached the Cavs about the deal, looking to pay James more money and free up some of their own cap space to sign other free agents.
If completed, the trade could put the Cavs in a position to make a significant trade of their own in the near future.
Though it is not finalized and might not be until next week, the Cavs are believed to have picked up two future first-round picks and two future second-round picks from the Heat in the swap.
The first-rounders likely will be in 2013 and 2015, with second-round picks in 2011 and 2012. The Cavs, it is believed, also will have the right to swap first-round picks with the Heat in 2012. In a separate sign-and-trade Friday, the Heat sent two first-round picks to the Toronto Raptors for Chris Bosh.
In addition, the Cavs will pick up a trade exception that could be worth up to $16 million. The way the deal works, the Heat are basically trading their salary-cap space for James, and it creates that exception. The Cavs can use that asset in a trade within the next year.
If the team goes this route, it will not give up the rights to its own free agents such as Shaquille O'Neal, and that will keep it over the salary cap. They will still have their midlevel exception of $5.7 million to use on free agents.
The Cavs were considering renouncing the rights to all their free agents and releasing guard Delonte West to get as much as $13 million in cap space. Instead, they will keep West and likely continue to dangle him in trades while looking for ways to use that $16 million.
It was likely a complex decision by the Cavs to take part in the sign-and-trade deal that will allow James to sign with the Heat for an additional (sixth) season and get higher annual raises that could make him as much as $30 million more over the life of the deal.
After Gilbert issued a fiery and emotional open letter to fans Thursday night, it seemed unlikely he'd take part in a deal that would get James extra money. Getting the Heat to give up four picks in the deal, especially considering the Cavs have had limited picks over the previous four years, apparently made enough business sense for Gilbert take part.
As Cavs General Manager Chris Grant said in a news conference at Cleveland Clinic Courts on Friday before he completed the sign-and-trade with the Heat, the team decided to move on shortly after they were informed James was leaving.
"LeBron is no longer on our team and we're ready to move forward," Grant said. "We're not going to change our thinking -- we want to win."
The Cavs plan is not to launch a complete rebuilding effort, Grant said, and instead attempt to have a seventh consecutive winning season in 2010-11. Getting the picks and the trade exception will give the team a chance to improve in the short term by trade but still assemble options for the future.
Having extra picks, even far into the future, can prove valuable to use in trades for more picks sooner or players. The Cavs, who haven't had a first-round pick in three of the previous six drafts, haven't had those types of options recently.
"If you look at the decisions we've made, they're all based on winning," Grant said. "We have players who are used to winning and we plan to continue to do so."
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according to windy, the cavs got a much better deal than toronto.
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Traded Player Exception: If a team trades away a player with a higher salary than the player they acquire in return (we'll call this initial deal "Trade #1"), they receive what is called a Traded Player Exception, also known colloquially as a "Trade Exception". Teams with a trade exception have up to a year in which they can acquire more salary in other trades (Trade #2, #3, etc) than they send away, as long as the gulf in salaries for Trade #2, #3, etc are less than or equal to the difference in salary for Trade #1. This exception is particularly useful when teams trade draft picks straight-up for a player; since draft picks have no salary value, often the only way to get salaries to match is to use a trade exception, which allows trades to be made despite unbalanced salaries. It is also useful to compensate teams for losing free agents as they can do a sign and trade of that free agent to acquire a trade exception that can be used later. Note this exception is for single player trades only, though additional cash and draft picks can be part of the trade.
Toronto also got a trade exception, we got two 2nd rd. draft choices which the Raptors did not but wooowhoooo...how many guys become starters at the bottom of the 2nd rd.
nmills said:
Toronto also got a trade exceptionwhere did you get this info from?
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where did you get this info from?
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nmills said:
2 first round picks spread out over the next 7 years add to that they'll more than like be pick #30 its just another slap in the face.I watched some video on the Heat home page, LeBron said after hearing what gilbert had to say he know's he made the right decision.
1) Keep in mind that those picks, coupled with our own #1 and/or player(s) can help us move up in the draft or in trades. It can help the Cavs future.
2) Who cares what Lebron thinks or says? He's gone. Gilbert is here & you have to love his passion.
Mike
1) Keep in mind that those picks, coupled with our own #1 and/or player(s) can help us move up in the draft or in trades. It can help the Cavs future.
2) Who cares what Lebron thinks or says? He's gone. Gilbert is here & you have to love his passion.
Mike
I'm surprised LeBron even thinks about what he's done anymore. I caught some of the introduction of "The Three Kings" down in Miami, and it almost made me want to hurl, and give up NBA basketball. MeBron certainly doesn't give a rat about the Cavs fans in Ohio anymore, it's "hey they loved me in Cleveland, now they love me in Miami".
Har har, so the Heat are in a win it all mode, I like this even better, with them essentially trading away their future. It's gonna be The Tree Stooges and a bunch of garbage for the next 5 years. God help 'em if one of them gets hurt. Do wonder how long MeBron's new contract is for- three years??, and if they don't win a title by then he can whine and get traded to the Lakers?
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his contracts for 6 years and get this, all three of them have an option to opt out after 3 years. Are'nt we lucky will get to "Witness" this all over again.
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his contracts for 6 years and get this, all three of them have an option to opt out after 3 years. Are'nt we lucky will get to "Witness" this all over again.
nmills said:
his contracts for 6 years and get this, all three of them have an option to opt out after 3 years. Are'nt we lucky will get to "Witness" this all over again.Actually, no, it will be good because after 3 years, they will realize that the "experiment" won't work at all, and they all three will end up hating each other, and LeBron will probably then want to go to NYC where he will then be resigned to just being a good player on a bad team, but in a city where he will be able to make a lot of money but not really win anything. So, he will end up being like Allen Iverson or the like, going here and there and begging for a team to take him (but still with no title).
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where did you get this info from?
nmills said:
http://www.nba.com/raptors/news/raptors_trade_070910.htmlthanks for the info. i've been listening to wknr on and off today and i didn't hear about this. i'm not sure if they reported this or not, i could've missed it.
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I was just reading the Sunday paper and it said that both first round pics are protected for 2 years. I guess if Miami loses and ends up with a pick in the top 10 we wont get it until they either A. draft higher then #10 the next year or 2 years go by with them having a top 10 pick, then on the third year, even if it's a lottery pick they wouldn't have a choice and would have to give it up to us.
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