On Thursday, the Nets traded James Harden and Paul Millsap to the 76ers for Ben Simmons, Seth Curry, Andre Drummond and two first round picks: an unprotected in this year’s Draft and a (lightly) protected first in 2027. But the devil is in the details.
So, let’s take a look at the deep end of the deal.
Here are the details on each of the three players acquired in trade, which became official Thursday night...
—Ben Simmons, 25, is in the second year of a five-year, $170 million deal that runs through 2024-25. Counting this year, he’s owed $146.7 million. No options, player or team.
—Seth Curry, 31, is the third year of a four-year, $32 million that runs through 2022-23. Counting this year, he’s owed $16.7 million. No options, player or team but Curry is eligible for an extension in the summer.
—Andre Drummond, 28, is on a one-year, vets minimum deal that pays him $2.4 million, of which $1.7 million counts on the cap. He’s an unrestricted free agent in the summer. The Nets hold his Non-Bird rights meaning they can re-sign him to 120 percent of the minimum salary.
The Nets won’t have to make a decision on James Harden’s extension this summer. That’s Philadelphia’s choice now. Harden will be eligible this summer for an $270.2 million extension through 2026-27, with the final year at $61.7 million
The Nets got two picks, but there are both options or protections on both ...
—Sixers’ 2022 first-round pick unprotected with a right to defer until 2023. No word on when they have to make the choice. If the Nets defer till 2023, that would permit them to trade their own pick that year. (The Stepien Rule prevents teams from being without first-round picks in consecutive years. The catch is that they need not control their own first-round pick. Any first-rounder satisfies the terms of the Stepien Rule.)
—Sixers’ 2027 protected 1-to-8. The 2027 pick would roll over to 2028 protected 1-to-8 again. If not convyed in either of those drafts, the pick would turn into a second in 2029 plus $2 million in cash considerations. Again, the 2027 pick would permit them to trade their pick that year. (Same Stepien rule applies.)
The Nets owe their 2022, 2024 and 2026 picks to the Rockets, part of the Harden trade. Houston also can swap firsts with the Nets in 2023, 2025 and 2027. Brooklyn has clean second rounders in 2026 and 2028 and may have to swap picks in 2024 and 2025.
The trade exceptions...
Nothing official but Yossi Gozlan of Hoopshype provided NetsDaily with some details. He believes Nets used part of the Spencer Dinwiddie $11.5 million TPE to take on Curry’s contract. Assuming he’s correct, the Nets would have six, five of which could be useful...
—$11.3 million (Harden) expires 2/10/23.
—$6.3 million (Jordan) expires 8/19/22.
—$3.2 million (Dinwiddie) expires 7/6/22.
—$1.7 million (Millsap) expires 2/10/23.
—$1.3 million (Doumbouya) expires 10/6/22
The Nets also have a $118,000 exception generated by the Landry Shamet for Jevon Carter and rights to Day’Ron Sharpe.
Luxury Tax Payments...
By making the trade, the Nets tax bill drops from $110,4 million to $95.5 million, a savings of $14.9 million. Luxury taxes are calculated on the last day of the regular season and paid the first week of July.
The real savings is down the road. The Nets believe the savings from this year collectively should open the door for Joe Tsai to continue to spend down the road. Currently, the Nets are third in the league behind the Warriors and Clippers. They had been second.
After the 76ers trade and the decision to waive DeAndre’ Bembry, the Nets stand at 17 players, 15 on standard deals and two two-ways — Kessler Edwards and David Duke Jr.,
Edwards, who started for the 17th time vs. Washington, cannot play in the post-season unless he’s upgraded to a standard deal. Deadline is April 11. The Nets also are expected to look at buyout candidates before the March 1 deadline.
NOTES: Assuming Kyrie Irving signs a four-year extension through 2025-26 in the summer, the Nets could have three contracts guaranteed through 2024-25 season: Durant (four years, $197.7 million, through 2025-26); Irving (four years, $181.6 million through 2025-26) and Simmons (five years, $170 million, through 2024-25.) Joe Harris is guaranteed through 2023-24, the final year of his four-year, $72 million deal.
Brooklyn has three other contracts guaranteed beyond this season: first round picks Cam Thomas and Day’Ron Sharpe who are on rookie scale deals through 2024-25; and Jevon Carter who’s guaranteed through 2022-23. Patty Mills has a $6.2 million player option on his contract.
- James Harden for Ben Simmons actually happened. What’s next? - Yossi Gozlan - Hoopshype