On February 13, 2018, guard Marco Belinelli signed a rest-of-season contract with the Philadelphia 76ers after he was bought out by the Atlanta Hawks. Because he is a 10+ year NBA Veteran, he signed for a pro-rated deal at the 10+ Years of Service Minimum Annual Salary. The calculation is below:
10+ YOS Min Annual Salary * (Days on 76ers/Total Days in Season) = Amount of 76ers Contract
$2,328,652 * (60/180) = $776,217.333
The buy-out from the Hawks means that Belinelli, his agent, and the Hawks came to an agreement that Belinelli should receive less than the total $6,606,060 he is owed this season. (The details of this buyout are not public.) As a part of this agreement, the Hawks waived Belinelli, where he cleared waivers, accepted the payment via the buy-out, and then was free to join another team – the 76ers, for a rest-of-season contract.
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