Re: Potential snag in the Shaq trade
The money does not have to be up front, heres the article
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The proposed trade that would send Shaquille O'Neal to the Miami Heat became more complicated Tuesday night when the Lakers found a clause in Lamar Odom's contract that would cost them an additional $8 million.
Although the discovery was not expected to be a deal-breaker, the Lakers were considering altering the handshake agreement they reached with the Heat four days ago, in which they would receive Odom, Brian Grant, Caron Butler and a first-round draft pick for O'Neal.
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As part of the six-year, $65-million contract he signed as a restricted free agent a year ago, Odom is to be paid $8 million if he is traded. Laker officials were unaware of the trade kicker during the course of trade negotiations with the Heat, according to team sources.
The Heat could absorb some of the kicker or sweeten the deal with another player or draft pick.
The decision to trade O'Neal, owner Jerry Buss said this week, was financially motivated. O'Neal is due $27.7 million next season and $30.6 million the following season, and he had demanded an extension of about $60 million over two more seasons.
For the purposes of matching salaries under the collective bargaining agreement, it is believed Odom's bonus would be spread over the life of his contract. Therefore, the trade, as it stands, is viable, if not entirely comfortable for the Lakers.
"This will not derail anything," said one source familiar with the negotiations.
The Lakers and Heat are expected to consult today with the league office, which will verify the details of their trade, now perhaps more fluid than either team expected, check them against the collective bargaining agreement and establish a general target day for physicals, should they be deemed necessary
Also there was a blurb on the headline about Sacramento offering Bobby Jackson and Chris Webber for Shaq, that's what caught my eye at first although I can't find anything else about it.
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The money does not have to be up front, heres the article
</font><blockquote><font class="small">Quote:</font><hr />
The proposed trade that would send Shaquille O'Neal to the Miami Heat became more complicated Tuesday night when the Lakers found a clause in Lamar Odom's contract that would cost them an additional $8 million.
Although the discovery was not expected to be a deal-breaker, the Lakers were considering altering the handshake agreement they reached with the Heat four days ago, in which they would receive Odom, Brian Grant, Caron Butler and a first-round draft pick for O'Neal.
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advertisement
As part of the six-year, $65-million contract he signed as a restricted free agent a year ago, Odom is to be paid $8 million if he is traded. Laker officials were unaware of the trade kicker during the course of trade negotiations with the Heat, according to team sources.
The Heat could absorb some of the kicker or sweeten the deal with another player or draft pick.
The decision to trade O'Neal, owner Jerry Buss said this week, was financially motivated. O'Neal is due $27.7 million next season and $30.6 million the following season, and he had demanded an extension of about $60 million over two more seasons.
For the purposes of matching salaries under the collective bargaining agreement, it is believed Odom's bonus would be spread over the life of his contract. Therefore, the trade, as it stands, is viable, if not entirely comfortable for the Lakers.
"This will not derail anything," said one source familiar with the negotiations.
The Lakers and Heat are expected to consult today with the league office, which will verify the details of their trade, now perhaps more fluid than either team expected, check them against the collective bargaining agreement and establish a general target day for physicals, should they be deemed necessary
Also there was a blurb on the headline about Sacramento offering Bobby Jackson and Chris Webber for Shaq, that's what caught my eye at first although I can't find anything else about it.
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