Tuesday, October 4th, 2011 at 9:15 am  |  11 responses

Would ‘Supertax’ Force Orlando Magic to Release Gilbert Arenas?

Should the owners’ proposed “supertax” make it into the new CBA, the Orlando Sentinel argues that the Magic would be wise to shed Gilbert Arenas’ monster contract at their earliest convinience: “A supertax essentially would take the dollar-for-dollar luxury tax system from the recently expired CBA and make that tax much more punitive. A team would have to pay $2 in luxury tax for every dollar over $70 million in payroll, $3 for every dollar over $75 million in payroll and $4 for every dollar above $80 million in payroll. Of course, it’s not set in stone that a supertax would be structured like this. But if it is, it probably would be cost-prohibitive for the Magic to continue to carry Arenas. He is due $19.3 million in salary in 2011-12; $20.8 million in 2012-13 (if he doesn’t opt out before July 1, 2012) and $22.3 million in 2013-14, according to HoopsWorld.com. But a new CBA could throw the Magic a badly needed lifeline. A new CBA could include a provision that would allow each NBA team to ‘amnesty’ one player off of its current roster and — here’s the critical part — have that player’s salary come off of not just the team’s salary-cap figure, but also its luxury-tax figure. The Magic would still have to pay Arenas his full salary of $62 million over the next three years if it uses an amnesty clause on him. But the team also could save millions of dollars in luxury-tax payments by releasing him.”

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  • http://www.slamonline.com UNFROZEN CAVEMAN LAWYER


  • http://www.optimabbc.be Max

    Wouldbe ideal if they also could do this to Turk

  • http://slamonline.com nbk

    I’ve read a pretty good argument that they should use it on Turkoglu instead of Arenas

  • Bmack

    As a bulls fan, I really wanna say i’d like to see him come to us and try out the SG position, but I fear that 1. He’d be undersized, and 2. He’d be the gilbert we saw the last three years, and not the one that was crossing up kobe and launching 40 foot threes automatically

  • Jono

    I’d definitely go for Turk first. For some reason I can see Arenas doing really well with another EC team and coming back to haunt the Magic. Hedo will just get fat from pepperoni pizzas.

  • BBaller

    The figures $$$$ that are still owed to GA are astonishing. Once again why/how did this lockout surface.With contracts as absurd as that.Imagine being the owner of the Magic, $60 million that’s 60 MILLION for a player who is a shadow of what was promised and who basically resigned when he signed that deal. No more Max ,7 year contracts! To anyone, even Lebron. That money should be donated to charity in the Orlando area.I’m on the players side throughout this thing but it’s these types of instances that make you sway towards the owners side of the argument. Only Doctors are worth $60 million!

  • BBaller

    $60 million spent on Doctors would see thousands of Humans receive medical treatment for years to come. oh how America has it twisted.

  • BBaller

    Can SLAM do a top ten worst contracts ever list?

  • BBaller

    I’ll give it a go
    1.Gilbert Arenas 20+
    2.Rashard Lewis 20+
    3.Joe Johnson 20+
    4.Richard Jefferson 15+
    5.Ben Wallace to chicago ?
    6.Stephon Marbury
    7.Baron Davis- ask clippers owner
    8.Allan Houston 20 +
    9.Yao Ming- albeit through injury
    10.Tracy Mcgrady

  • BBaller

    Honourable mentions to S.Francis, gee WTF Orlando, i might take back my sympathy for their front office!

  • Jono

    @BBaller Let’s not forget Vince Carter, he’s up there too