jim jacksons contract

 
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Rayaboy30
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PostPosted: Mon Mar 13, 2006 11:19 am    Post subject: jim jacksons contract

does anybody know the terms of his contract? thanks in advance
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SpecAgentX1
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PostPosted: Mon Mar 13, 2006 11:29 am    Post subject:

According to Lakers.com the specific terms of the deal were not disclosed. But I would assume that he got a prorated minimum contract since he wasn't signed before the season began.
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Coca James
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PostPosted: Mon Mar 13, 2006 12:07 pm    Post subject:

I heard that JJ received app. $500,000 to finish the season with the Lakers
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dwonderful
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PostPosted: Mon Mar 13, 2006 12:14 pm    Post subject:

Coca James wrote:
I heard that JJ received app. $500,000 to finish the season with the Lakers


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angel
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PostPosted: Mon Mar 13, 2006 12:18 pm    Post subject:

It's basically a $2M pers season contract prorated for a quarter of a season. The Lakers can give him a slight raise next season. It beats making minimum.
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Sage_10
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PostPosted: Mon Mar 13, 2006 1:16 pm    Post subject:

Lakers need to pick him up and Laron Profit, if he's still functional.
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sodapoppenski
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PostPosted: Mon Mar 13, 2006 1:36 pm    Post subject:

Coca James wrote:
I heard that JJ received app. $500,000 to finish the season with the Lakers


I heard we had $500,000 to offer (the prorated remainder of the MLE
portion we had left), but ended up signing him to finish the season with
us (incl playoffs of course) for a total sum of $300,000.

Pretty sure ESPN was where I heard that, it was there or RealGM.
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thumpinghead
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PostPosted: Mon Mar 13, 2006 1:40 pm    Post subject:

angel wrote:
It's basically a $2M pers season contract prorated for a quarter of a season. The Lakers can give him a slight raise next season. It beats making minimum.



what do you mean by this slight raise??
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LarryCoon
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PostPosted: Mon Mar 13, 2006 2:12 pm    Post subject:

Jackson was signed to a rest-of-season contract at the minimum salary. Such contracts are pro-rated by the number of days remaining in the season. Jackson signed his contract with 45 days remaining in the (170-day) season, so he signed for 45/170 of the minimum salary for a 10-plus-year veteran ($1,138,500), or $301,367.65.

Part of Jackson's salary is paid by the league, and the amount that counts against the Lakers' cap is reduced accordingly. For players at the minimum salary playing under a one-year, rest-of-season, or 10-day contract, the Lakers pay him (and he counts against the Lakers' cap) like a two-year veteran. Since the two-year minimum salary is $719,373, the Lakers are responsible for 45/170ths of that, or $190,422.26. This is the amount the Lakers actually pay him, and the amount that counts against the Lakers' cap. The remaining $110,945.39 is paid by the league office. [Note: the reason they do this is so team's won't have a financial reason to prefer a younger player over an older one.]
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angel
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PostPosted: Mon Mar 13, 2006 2:21 pm    Post subject:

LarryCoon wrote:
Jackson was signed to a rest-of-season contract at the minimum salary. Such contracts are pro-rated by the number of days remaining in the season. Jackson signed his contract with 45 days remaining in the (170-day) season, so he signed for 45/170 of the minimum salary for a 10-plus-year veteran ($1,138,500), or $301,367.65.

Part of Jackson's salary is paid by the league, and the amount that counts against the Lakers' cap is reduced accordingly. For players at the minimum salary playing under a one-year, rest-of-season, or 10-day contract, the Lakers pay him (and he counts against the Lakers' cap) like a two-year veteran. Since the two-year minimum salary is $719,373, the Lakers are responsible for 45/170ths of that, or $190,422.26. This is the amount the Lakers actually pay him, and the amount that counts against the Lakers' cap. The remaining $110,945.39 is paid by the league office. [Note: the reason they do this is so team's won't have a financial reason to prefer a younger player over an older one.]

Larry, thanks for clearing it up. There was a report that JJ was receiving what was left of the MLE.
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