Paul George may not be happy about his season ending last week, but he’s probably feeling a little bit better today. By making the All-NBA Third Team, he’s triggered a massive bonus in his contract. From ESPN.com:
As part of the contract that George signed with the Indiana Pacers last summer, making the All-NBA team activates a nearly $7 million bonus in that deal, according to sources.
George becomes the third player since 2011 to hit what has become known as the “Rose Provision,” which is an escalator bonus in some maximum contracts.
This is due to an element in the collective bargaining agreement installed three years ago. It allows for a player on a maximum contract to get a significant raise if he wins MVP, gets voted to start in two All-Star games or is named to two All-NBA teams before the max contract kicks in. George’s new contract begins this summer.