The Nets dipped into their trade assets to acquire Deron Wiliams and move Troy Murphy, but they still have seven draft picks over the next three years, with at least one first rounder in each of the next three. They also have an estimated $19 million in expiring contracts this season...although they've made it clear they'd like to bring back Kris Humphries and Sasha Vujacic. They also continue to have an open roster spot.
Here are the details.
The Nets are about $200,000 over the cap after trading for Deron Williams. The team now has 14 players on the roster, one less than the maximum. The Nets gave out a reported $635,000 in partial guarantees, $450,000 for Stephen Graham, $35,000 for Ben Uzoh, $100,000 for Sean May and $50,000 for Brian Zoubek, the last two long departed. The Nets also paid out nearly $10,000 to Orien Greene, who played for the Nets on a 10-day contract. Graham and Uzoh's guarantees become part of their veterans' minimum salary. The guarantees paid May and Zoubek and Greene's 10-day count against the cap.
The Nets have seven players on expiring contracts totaling $19 million. The expiring contracts, in descending order of size, are: Dan Gadzuric, $6.883 million; Sasha Vujacic, $5.475 million; Kris Humphries, $3.2 million; Quinton Ross, $1.14 million; Graham, $992,680; and Uzoh, $473,604. Graham also has a $100,000 partial guarantee on a second year. Brandan Wright, on the last year of his rookie contract, is a restricted free agent making $3.398 million. Should the Nets decide not to keep him, his contract too becomes expiring.
The remainder of the team is either on rookie contracts--Brook Lopez ($2.41 million) and Damion James ($1.16 million); or multiple year deals--Travis Outlaw ($7 million); Anthony Morrow ($4 million); Jordan Farmar ($3.75 million); and Johan Petro ($3.25 million).
The Nets have seven picks over the next three years, five of their own and two acquired in trades, including the two in the Williams/Vujacic deal. Only two of the picks have protection, the Rockets' 2012 lottery-protected pick; and the Lakers' 2011 first rounder protection which is protected 1-18.
Here are the details:
In 2011, the Nets have the Lakers' first round pick (protected 1-18), acquired in the Terrence Williams trade; plus their own second round pick.
In 2012, the Nets have their own first round pick; the Rockets' first round pick (lottery-protected), acquired in the Terrence Williams trade; plus the Heat's second round pick (unprotected), acquired along with Chris Quinn.
In 2013 (and beyond), the Nets have their own first round pick and their own second round pick.
--The Lakers' 2011 first rounder. The pick is protected 1-18 through 2016. Currently, the Lakers would pick at #26 so barring a monumental collapse, the Nets are likely to use it this June. In the unlikely event the Lakers pick between #1 and #18, the pick rolls over each year through 2016. In 2017, it would be unprotected.
--The Rockets' 2012 first rounder. The pick is lottery protected (1-14) through 2016. If the Rockets pick falls in the lottery in 2012, the pick rolls over each year, again through 2016. In 2017, it would become a second round pick.
The Nets have not traded one of their own first round picks since 1999, preferring to keep their picks and trade those acquired from other teams. (The last two first round picks the Nets traded turned into Matt Harpring and Wally Szczerbiak.)
Until the Deron Williams' trade, the Nets had not traded one of their own first round picks since 1999, preferring to keep their picks and trade those acquired from other teams. (The last two first round picks the Nets traded turned into Matt Harpring and Wally Szczerbiak.)
Trade exceptions only come into play when a team goes over the cap.
--an estimated $1.826 million exception acquired in the Deron Williams trade. It expires at the deadline in 2012. There are restrictions on its use...it can't be traded with a player for example...but they can be valuable. If the Nets wanted to trade a draft pick to, or swap picks with, a team in return for a player, they can use a trade exception to do so. Trade exceptions can also be used to grab a player off the waiver wire.
Mid-level and Low-level exceptions:
With the Nets go over the cap, they would normally be able to use their mid-level (MLE) and low-level (LLE) exceptions, worth $5.85 million and $2.0 million, to sign and trade players in a more complicated deal. However, the team renounced both last summer to get room for free agent signings.