The Clippers are signing G Sean Kilpatrick to a 10-day contract. This is the first time they have signed him this season, and they can sign him to one more 10-day contract this season (2 total with one team). A 10-day contract, by rule, allows for a player to be with the longer of team for 10 days or three games. Because the Bucks waived Kilpatrick before 11:59 PM on March 1, he is still eligible to play in the playoffs per CBA rules.
Kilpatrick’s deal will be a pro-rated 6YOS veteran’s minimum contract for the 10 days. Because Kilpatrick is not a veteran, a 2 Year-of-Service Veteran’s Minimum Salary is used to calculate the value. The details are below:
(Days on Clippers/Days in NBA Season) * (2YOS Veteran’s Min Salary) = 10-Day Deal
(10/177) * $1,471,382 = $83,128
Because Kilpatrick is in his sixth year in the NBA, he will amass a salary of the following amount. The NBA will pay the difference between the Clippers’ $83k and his $104k ($20,931).
(10/177) * $1,841,849= $104,059
The reason for the use of 2YOS Vet Minimum is to encourage teams to sign veterans and not be burdened by an increased salary. The standard 10-Day salary for a one year NBA veteran is $74,159, thus the roughly $9k variation should not impede veteran signings. Any deal for a veteran with more than 2YOS counts the same as one with only 2YOS with regard to the luxury tax, because the NBA pays the difference.
If a team had 3 games in 12 days, the amount of the contracts would go up. In addition, a team cannot sign a player to a 10-Day contract if there are fewer than 10 days left in the season. Teams can end a 10-day contract early, and the contract doesn’t get posted to waivers, making the player an immediate free agent.
The Cap Hit for a 10-day contract is the same as the team-paid value of the contract ($74,159 or 83,128). Thus, the Clippers began the day with $629,032 in cap room, which will be reduced by Kilpatrick’s 10-Day as follows:
$629,032 - $83,128 = $545,904
*177 Days were used for the length of the NBA season.
I'm Jake, a recent graduate of Duke University pursuing a career in collegiate or professional basketball operations.
Cap #s 2018 - 2019
Salary Cap: $101.869M
Lux. Tax: $123.733M
Tax Apron: $129.827M
Tax Floor: $91.682M
Room MLE: $4.45M