The Contract Statuses of Jeremy Lin and Landry Fields (2/9/12 Update)

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The Contract Statuses of Jeremy Lin and Landry Fields (2/9/12 Update)

February 8th, 2012 by Brian Cronin | @Brian_Cronin | Comments | Permalink |

While obviously it is too soon to tell if Jeremy Lin is going to continue his standout play for the New York Knicks, I figured that there was enough uncertainty among the readers about Lin’s future status with the Knicks that I would detail the situation (and discuss Landry Fields’ future, as well).

The Knicks are about to guarantee Jeremy Lin’s full salary, which is a one-year contract for roughly $800,000. Landy Fields, meanwhile, is on the second year of a two-year contract paying him roughly $800,000 a year. Both Lin and Fields will be free agents at the end of this season.

Before I discuss anything, note that the Knicks are over the salary cap for next season but will not be at the luxury tax level. Therefore, they will have both the Bi-Annual Exception (roughly $2 million) and the full mid-level (roughly $5 million) as exceptions (on top of the ability to pay any free agent the minimum salary for that player, which is how they signed Baron Davis and Mike Bibby).

Now on to Lin and Fields. Lin and Fields are both eligible for the so-called “Early Bird Exception.”

As an Early Bird player, Fields can be offered a contract that starts at 175% of his current salary or anything up to the average NBA salary (which is roughly $5 million). They can pay Fields this money without affecting their mid-level exception. However, if Fields just signs a one year deal for anything up to the average salary, then the following season the Knicks will have his full Bird Rights and then can re-sign him to a salary larger than the average salary. It really depends on how well Fields plays the rest of the year to determine what kind of deal he signs.

Lin is also an Early Bird Player. Initially, I thought that he was not because of the following quote from Larry Coon’s invaluable Salary Cap FAQ, “If a player is waived and is claimed by another team before he clears waivers, then his Bird clock resets.” However, that turns out not to be the case. My apologies. The player has to clear waivers for his Bird clock to reset. Since the Knicks claimed Lin off waivers from the Rockets (who, in turn, claimed him off waivers from the Golden State Warriors), Lin’s Bird Rights remain intact as if he were traded from the Warriors to the Knicks. So the Knicks can offer Lin a contract that starts at 175% of his current salary or anything up to the average NBA salary (which is roughly $5 million). They can pay Lin this money without affecting their mid-level exception. However, if Lin just signs a one year deal for anything up to the average salary, then the following season the Knicks will have his full Bird Rights and then can re-sign him to a salary larger than the average salary.

Other teams can still try to snatch Fields and Lin away from the Knicks, though. Both Fields and Lin are technically restricted free agents. However, due to the so-called “Gilbert Arenas provision,” other teams are limited in what they can offer Fields and Lin. They can only offer them up to the full mid-level. So the Knicks would be able to match any offers without touching their previous mid-level exception, which they hope to use to attract a notable free agent to come play for the team next year (the Knicks would also keep their Bi-Annual Exception available for a possible other free agent).

So, as things stand, Fields and Lin are pretty much guaranteed to be Knicks next season if the Knicks want them (which they certainly seem to). Note, though, that if teams were to sign both Fields and Lin to the mid-level, the Knicks would be in a situation where they would be approaching the luxury tax before you even got into their Mid-Level Exception. So it is not as simple as “sure, they’ll just keep both” – their decisions could get pretty rough if they were put into a situation where they had to determine if either Lin or Fields were worth the full mid-level (this, of course, provides that another team even tries to sign away either guy, which is far from a given).

Thanks to the man, the myth, the legend Larry Coon and his Salary Cap FAQ for the ground rules of this discussion (just note that he needs to fix the part where he says that Bird Rights reset when a player is claimed on waivers). Read them for some other tricky stuff about the Gilbert Arenas provision that have not, to my knowledge, ever come up before so I didn’t address them but I guess they could (like how a team can backload a contract for a player like Lin so that the overall deal could be 4 years/$40 million).

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30 Responses to “The Contract Statuses of Jeremy Lin and Landry Fields (2/9/12 Update)”

1

TheRant says:

February 8, 2012 at 1:34 am

Interesting to read. Thanks.

I would love to keep both Lin and Fields, as we will need young and maturing talent and they are proving themselves nicely.

I’m really surprised Nash is still in the discussion. I know he just played great on his 38th birthday and seems ageless right now. But we don’t need yet another fading veteran. The same day Nash was seeming immortal, Billups was watching his season (and perhaps his career) come to a close.

It just isn’t practical to be relying on someone over 35 to run the point, since our frontcourt will take a year or two to develop its chemistry.
2

Brian Cronin says:

February 8, 2012 at 1:48 am

Steve Nash has a 57.7% Assist Rate right now. 57.7%!! His TS% is .646. His eFG is .615! .615 from an outside shooter! He’s shooting 45% from three! He is having an outstanding season. Yes, he is old, but he is just as great as he ever was and I doubt he’ll have any major drop off next season. Now the year after that, maybe. But holy crap is he good right now.
3

villainx says:

February 8, 2012 at 1:49 am

Can the Knicks sign and trade with Fields? and what’s the impact on that? Has Fields played to a level that he’s a definite keeper?

I guess pre Melo Fields looked awesome. But he’s been searching for his game/role. Searching for quite a long time.

Or I guess I could be really off track with regards to Fields.
4

Brian Cronin says:

February 8, 2012 at 2:10 am

Yeah, they can sign and trade him.
5

EB says:

February 8, 2012 at 2:38 am

So what I got from this is that if we really want to keep Lin we can no matter what. Is that right? and if it is thats awesome
6

Brian Cronin says:

February 8, 2012 at 2:50 am

Yes, if they want to keep him, there’s no way they can be kept from keeping him. The only way he’d be lost is if he is priced past what they’re willing to pay. And the key word there is “willing.” It would be their choice.
7

Tony Pena says:

February 8, 2012 at 2:59 am

EB- it looks like at a price. If he continues to play really really well for the rest of the year, they’re going to have to pay him out of the teams’ mid-level exception, and so dipping into the money for other free agents.

Brian, thanks for the clarity, much needed. I haven’t been this excited about the Knicks since this past draft. I guess the best case scenario team-wise would be for Baron to come back, and Lin moves into the back-up pg slot but continues to play well for the rest of the year. This way his stats don’t blow up like crazy and we can sign him to the Bi-Annual. Then he can take full reign of the team next year.
8

Ben R says:

February 8, 2012 at 3:08 am

Why would we trade Fields? He is playing really good basketball right now. He was great pretrade and the combination of a very different team and style post Melo, the rookie wall, and no real training camp this year caused him to struggle but he seems to have figured it out and is playing very well right now.
9

BigBlueAL says:

February 8, 2012 at 3:21 am

I would love to sign Nash next season and have Lin be his backup. Should be great for Lin to learn from the master.
10

Brian Cronin says:

February 8, 2012 at 3:43 am

I would love to sign Nash next season and have Lin be his backup. Should be great for Lin to learn from the master.

How amazing would that be? Nash has never had a backup that was like Nash (he’s always played with change of pace PGs such as scorers like Barbosa and Dragic or just plain ol’ bad players like Banks and Telfair). The lineup might never skip a beat!
11

Spree8nyk8 says:

February 8, 2012 at 4:41 am

Great article, had a lot of questions that have been answered thanks :)

Personally, I’d kinda like us to just develop this kid, I mean I know the allure of bringing in Nash is hard to pass on. But he could be a special kind of player and he is the type of player that is just fun to root for. If he doesn’t hold this level of play I understand if they have to go a different direction, but I’m really hoping he does and we just lock this kid up.
12

ess-dog says:

February 8, 2012 at 6:47 am

I think we’re ignoring the fact that Nash is worth way more than the mid level. I’m not sure who has the room but a 2 year 20 mil deal makes more sense. Harrington practically got the mid level! If he’s the real deal, which it looks like he is, we need to keep Lin.
13

Aharon says:

February 8, 2012 at 6:51 am

Could a team under the cap theoretically pay Lin more than the mid-level (in which case we could lose him even if we wanted to pay him the full mid-level)?
14

Bruno Almeida says:

February 8, 2012 at 7:21 am

@12

Nash would only accept the mid level if it gave him a clear shot at a title… in my opinion, he’s obviously worth more than that (maybe MUCH more), but what contender needs a PG and has more than the MLE to offer?

Miami and LA are the only true contenders that need a PG, and they too have no cap space… Orlando might be an option, but they’re such a mess until Dwight’s situation is sorted out, and everyone else has good PGs already.

unless he wants to take a flier on an unproven team (a Blazers, Pacers kind of team), his options will be restricted to accepting the mid level to go for a title.
15

Brian Cronin says:

February 8, 2012 at 7:55 am

Could a team under the cap theoretically pay Lin more than the mid-level (in which case we could lose him even if we wanted to pay him the full mid-level)?

No. That’s what the “Gilbert Arenas provision” is designed to avoid. In addition, it also assures first round draft picks that second round draft picks will never get to exceed the mid-level before them (as it was kind of weird for first round draft picks to watch Carlos Boozer and Gilbert Arenas strike it rich while they were stuck in their first rounder pay scale).
16

Mulligan says:

February 8, 2012 at 8:36 am

Wait, even though Lin doesn’t qualify for the Early-Bird Exception, isn’t he a restricted free agent because he’s a veteran who has played less than 3 years in the league?

From the Salary Cap FAQ:

“Restricted free agency exists only on a limited basis. It is allowed following the fourth year of rookie “scale” contracts for first round draft picks (see question number 42). It is also allowed for all veteran free agents who have been in the league three or fewer seasons.”
17

Brian Cronin says:

February 8, 2012 at 8:43 am

Yes, he is a restricted free agent. As I said:

Both Fields and Lin are technically restricted free agents.

Lin’s a restricted free agent, but he cannot be offered more than the mid-level by any other team (the “Gilber Arenas provision”). However, if he is offered more than the Bi-Annual Exception in an offer sheet from another team, the Knicks would have to use part of the mid-level exception (possibly the entire thing, depending on the offer) to match the offer sheet.
18

Mulligan says:

February 8, 2012 at 8:55 am

Ah, this cap stuff is not my forte. Could have sworn I read that if he’s a restricted free agent he’s only eligible for option 1 (120% of salary) not the other 2. Can navigate the FAQ on my iPhone so I guess I’ll have to check later…
19

Mulligan says:

February 8, 2012 at 9:07 am

Hahn says Knicks do have Lin’s bird rights www.msg.com/the-knicks-fix-can-the-lin-sanity-continue-1.82522
20

Brian Cronin says:

February 8, 2012 at 9:14 am

What Hahn says is, in general, correct. However, he is not describing “Bird Rights” there. He is accurately describing Lin’s current Non-Bird Free Agent status. The Knicks can make Lin a restricted free agent by giving him the qualifying offer Hahn mentioned. However, they do not yet have his Bird Rights (or Early Bird Rights). You have to play for a team for two years to have Early Bird Rights. Bird Rights can travel via trade, but they expire when a player is waived. Lin has been waived twice.
21

Brian Cronin says:

February 8, 2012 at 9:22 am

Here is the appropriate part of Coon’s FAQ:

If a player is waived and is claimed by another team before he clears waivers, then his Bird clock resets.

Lin has been waived twice. Thus, his Bird Right toll began this year with the Knicks. He needs another year for Early Bird status and two more for full Bird Rights.
22

Brian Cronin says:

February 8, 2012 at 9:27 am

The Knicks, for instance, did not have Bird Rights for Shawne Williams because he had also been waived.
23

villainx says:

February 8, 2012 at 9:54 am

Ben R:
Why would we trade Fields? He is playing really good basketball right now. He was great pretrade and the combination of a very different team and style post Melo, the rookie wall, and no real training camp this year caused him to struggle but he seems to have figured it out and is playing very well right now.

I hope that’s true regarding Fields. I’m always a booster for homegrown. But quick scan of Fields is that he does a bunch of things in the average to slightly above average range. Very valuable, but I guess if Shump progresses and the Knicks has a competent PG (with Lin), then some of that value is mitigated.

Best case is Fields put my doubt to rest by just helping the team win. Or steps up whatever aspect of his game that needs stepping up.
24

Jim Cavan says:

February 8, 2012 at 10:14 am

Great stuff, Brian! We should start a campaign advocating Fields and Lin be roommates forever. After all, splitting rent will mean both can take a pay cut next year, right?….RIGHT?
25

John Kenney says:

February 8, 2012 at 10:52 am

Put the idea of “Jeremy Lin playing so well we don’t offer Steve Nash the full mid-level” in the “unlikely problems” folder.
26

Brian Cronin says:

February 8, 2012 at 10:57 am

That’s not what I’m worried about, though. I’m worried that he plays well enough for another team to offer him, say, $3 or 4 million a year. In which case the Knicks would not be able to match the offer and sign Nash. Obviously you’d sign Nash, as he is amazing, but it would still suck to lose Lin.

And what if Nash drags his feet while another team makes Lin the offer early in the free agent period. They might be in a position where they let Lin go and then also lose Nash.
27

ROUGH says:

February 8, 2012 at 11:59 am

Brian Cronin:
…And what if Nash drags his feet while another team makes Lin the offer early in the free agent period. They might be in a position where they let Lin go and then also lose Nash.

This looks like the Knicks, doesn’t it? :)))
28

max fisher-cohen says:

February 8, 2012 at 12:59 pm

Great article, Brian. Several times i have gone over to Larry Coon’s FAQ, and several times I have thought, “too much work!” The Arenas thing is particularly confusing, and you explained it well.

I do wonder in regard to Nash whether he will be traded before the deadline. Phoenix is currently 3 games out of the playoff race, and there’s really no prospect of them getting better. They’ve been healthy. They just have a weak roster. They must know Nash is not going to come back and play for them next year, so they might as well bite the bullet.

The question is, will they ask him where he wants to go, then trade him for peanuts, or will they sell him to the highest bidder? Nash has been so good to that franchise, so you’d think the former (they could just buy him out, even), in which case I could absolutely see him ending up with New York since he loves the city and MDA’s style. However, I think we’d be on the outside looking in in any trade.

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