Cleveland Cavaliers Owe A Royalty For Being Well Over The Salary Cap
The Cleveland Cavaliers must pay a hefty price after winning the NBA Championship, thanks to being well over the NBA’s salary cap.
Dan Gilbert’s pockets are beginning to have a hole wear through them. The Cleveland Cavaliers must pay a king’s ransom, $54 million for being well over the NBA’s salary cap, according to ESPN‘s Marc Stein.
The price must be well worth it for Gilbert, however, who delivered Cleveland it’s first since the Cleveland Browns won the NFL Champions, before the Super Bowl, in 1962. He would probably be happy to do it all over again if he had the opportunity to.
LeBron James commanded the team’s highest salary, making $24 million last season. He will likely make $27.5 million next season if he re-ups his deal with the Cavs to try and defend their championship.
The Cavs already have $76.7 million tied up in contracts next season. That means eight players are under contract for next season under that amount. Kevin Love, Kyrie Irving, Tristan Thompson, Iman Shumpert, Channing Frye, Mo Williams and Dahntay Jones are under contract.
The team also picked up Jordan McRae’s option, which is not included in the aforementioned number. That number also excludes the contract of 54th overall pick Kay Felder.
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James isn’t the only free agent the Cavs hope to retain. J.R. Smith is an unrestricted free agent, and with the salary cap at an all-time high of $94 million, he could earn a nice payday going to play elsewhere. Forward Richard Jefferson is also a notable free agent, after his stellar play during the NBA Playoffs.
Cleveland will likely be over the luxury tax again next season if they are able to retain all their players.
Nevermind the fact that restricted free agent Matthew Dellavedova may not be back after agreeing to a four-year, $38 million offer sheet with the Milwaukee Bucks. Being a restricted free agent gives the Cavs the opportunity to match the offer sheet. They have a three-day period to match, after Dellavedova signs his offer sheet, likely on July 7th.
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Meanwhile, the Cavs have to look at other free agent options. They sit at 10 total commitments, including McRae and Felder. Their roster makes up of four guards, four forwards and two centers. They should be looking to add two more guards and two more forwards in free agency to round out their roster.
Where the Cavs go in free agency will be determined on what happens after Kevin Durant announces his free agent decision. Until then, everything has come to a halt, as The Vertical‘s Adrian Wojnarowski suggests.
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The ultimate price that Gilbert will pay is well worth it after winning a NBA Championship. He may be on the hook for another hefty check as the Cavs tie up their loose ends during the offseason as they will likely be over the hard cap again as they try to defend their NBA Championship.