Exercising the Option
Utah Jazz Off-season thoughts Part 1
NBA contracts often include “Options.” These decisions include TEAM, or PLAYER options. Whether a TEAM or a PLAYER option, a deadline is set before the beginning of the season for the OPTION to be decided. The Team option allows the organization the ability to “exercise” the option and retain their player, or decline to “pick-up” the option and let their former player become free to sign a new contract with any team; including the possibility of resigning a new contract with their original team. A Player option leaves the player the decision whether to “opt-in” and complete their original contract, or “opt-out” and become a free agent, able to sign a new contract with any team.
The “option” power is great, and those who hold this power take it very seriously; usually weighing all options and making their decisions as close to the mandatory deadline as possible. This waiting can also generate a great deal of drama, and the uncertainty of Team or Player decisions can greatly impact the overall production of the team in the upcoming season.
There were “Options” aplenty in the Jazz current off-season schedule with drama certainly following. There were three players on last years’ Jazz roster who held Player Options and one player that the Jazz held the Team Option on. Let’s start with the Player Options.
Player Options
1) Carlos Boozer: No need to rehash all of the extended commentary on Carlos. In short, in an inopportune time he commented that he would indeed be opting out in an effort to gain more money. He received a great deal of backlash from the fan base and his relationship with his teammates also seemed to suffer. The deadline came and Carlos Boozer changed his mind and “Opted-In” on his final year of his contract.
2) Mehmet Okur: In the weeks leading up to the option deadline, Memo Okur stated publicly that he would like to remain in Utah and with the Utah Jazz. Memo’s agent was in town the day of the deadline, with many believing he would be opting out as well. The deadline came and Memo too “Opted-In” on his final year of his contract. Several days later Memo signed a new two-year extension with the Utah Jazz.
3) Kyle Korver: Kyle remained rather quiet about his intensions to opt-in or out with the Jazz. To avoid the drama of deadline day decisions, Kyle informed Utah Jazz Management a day before the deadline that he too would “Opt-In” on the final year of his contract.
Team Options
1) Krylo Fesenko: Still new to the Jazz organization, with little time to prove himself to the team, the Team option to keep Fesenko seemed unsure at best. The Jazz however, exercised their team option, thus maintaining Fesenko for the final year of his rookie contract.
Free Agents and Restricted Free Agents
In addition to those who are under contract “options,” there are players’ whose contracts have ended. Depending on the situation, and the way the original contract was structured, these players are now either Free Agents, and able to sign with any team they wish, or Restricted Free Agents, meaning they can sign an offer sheet with any team, with the team who held their previous contract the right of first refusal. Should a Restricted Free Agent sign an offer sheet with another team, their original team has 7 days to match the offer and retain their player, or decline to match and allow the player to sign with the new team.
1) Paul Millsap: Paul is the Utah Jazz teams’ desired Power Forward of the Future.
He is also a Restricted Free Agent who has signed an offer sheet with the Portland Trailblazers. As such, the Jazz Organization has a little more than 3 days to decide if they will match the Portland Offer Sheet and Maintain their desired player. Sentiment around the team and fans is that the Utah Jazz will indeed match the offer. This Match would further extend the Jazz into the dollar for dollar tax penalty.
2) Brevin Knight, Jarron Collins, Ronnie Price, and Morris Almond: All are Unrestricted Free Agents and are free to sign a new contract with any team of their choosing. Last year, the Utah Jazz declined their team option on Morris Almond. It is believed that he, along with Brevin Knight, and Jarron Collins will not be back in a Jazz uniform next season. Contract negotiations with Ronnie Price are ongoing.
What does it all mean?
Without getting into too many financial details, the NBA sets a cap on how much a team can spend on players before becoming penalized with a $1 for $1 tax. With all of our option holding players deciding to “Opt-in,” the Utah Jazz Organization has exceeded that threshold. Because matching the offer sheet extended to Paul Millsap will further extend the Jazz’s exceeding budget, there have been confirmed reports that Carlos Boozer will soon be traded.
No matter the outcome of Millsap’s offer sheet, the drama surrounding the Utah Jazz Organization is enough to fill a season worth of scripts for a daytime soap opera. And I for one am hooked. I have been thinking of a few titles of what the Jazz Soap Opera could be, and so far my top choices are, “Nights of our Lives,” “The Young Players and the Restless Sloan,” or “How the Roster Turns.”
Fan Options
Just like the highly paid players, each fan holds an “Option.” This option comes up each year in our imaginary fan contracts that allows us to choose whether we will “Opt-in” as fans and be exciting for the upcoming season, or “Opt-out” of our excitement for the upcoming season and chose to “sign-away” our time with something new. I would like to announce that before the deadline approached and the drama even began, that I have Opted-In for the excitement and the upcoming season. I have also chosen to sign an excitement extension with the Jazz. My new extension is good for the next 4 years. Until that time, I have no choice but to be ready to go! Preseason games are only 12 weeks away!!!
(Part 2 forthcoming)
Utah Jazz Off-season thoughts Part 1
NBA contracts often include “Options.” These decisions include TEAM, or PLAYER options. Whether a TEAM or a PLAYER option, a deadline is set before the beginning of the season for the OPTION to be decided. The Team option allows the organization the ability to “exercise” the option and retain their player, or decline to “pick-up” the option and let their former player become free to sign a new contract with any team; including the possibility of resigning a new contract with their original team. A Player option leaves the player the decision whether to “opt-in” and complete their original contract, or “opt-out” and become a free agent, able to sign a new contract with any team.
The “option” power is great, and those who hold this power take it very seriously; usually weighing all options and making their decisions as close to the mandatory deadline as possible. This waiting can also generate a great deal of drama, and the uncertainty of Team or Player decisions can greatly impact the overall production of the team in the upcoming season.
There were “Options” aplenty in the Jazz current off-season schedule with drama certainly following. There were three players on last years’ Jazz roster who held Player Options and one player that the Jazz held the Team Option on. Let’s start with the Player Options.
Player Options
1) Carlos Boozer: No need to rehash all of the extended commentary on Carlos. In short, in an inopportune time he commented that he would indeed be opting out in an effort to gain more money. He received a great deal of backlash from the fan base and his relationship with his teammates also seemed to suffer. The deadline came and Carlos Boozer changed his mind and “Opted-In” on his final year of his contract.
2) Mehmet Okur: In the weeks leading up to the option deadline, Memo Okur stated publicly that he would like to remain in Utah and with the Utah Jazz. Memo’s agent was in town the day of the deadline, with many believing he would be opting out as well. The deadline came and Memo too “Opted-In” on his final year of his contract. Several days later Memo signed a new two-year extension with the Utah Jazz.
3) Kyle Korver: Kyle remained rather quiet about his intensions to opt-in or out with the Jazz. To avoid the drama of deadline day decisions, Kyle informed Utah Jazz Management a day before the deadline that he too would “Opt-In” on the final year of his contract.
Team Options
1) Krylo Fesenko: Still new to the Jazz organization, with little time to prove himself to the team, the Team option to keep Fesenko seemed unsure at best. The Jazz however, exercised their team option, thus maintaining Fesenko for the final year of his rookie contract.
Free Agents and Restricted Free Agents
In addition to those who are under contract “options,” there are players’ whose contracts have ended. Depending on the situation, and the way the original contract was structured, these players are now either Free Agents, and able to sign with any team they wish, or Restricted Free Agents, meaning they can sign an offer sheet with any team, with the team who held their previous contract the right of first refusal. Should a Restricted Free Agent sign an offer sheet with another team, their original team has 7 days to match the offer and retain their player, or decline to match and allow the player to sign with the new team.
1) Paul Millsap: Paul is the Utah Jazz teams’ desired Power Forward of the Future.
He is also a Restricted Free Agent who has signed an offer sheet with the Portland Trailblazers. As such, the Jazz Organization has a little more than 3 days to decide if they will match the Portland Offer Sheet and Maintain their desired player. Sentiment around the team and fans is that the Utah Jazz will indeed match the offer. This Match would further extend the Jazz into the dollar for dollar tax penalty.
2) Brevin Knight, Jarron Collins, Ronnie Price, and Morris Almond: All are Unrestricted Free Agents and are free to sign a new contract with any team of their choosing. Last year, the Utah Jazz declined their team option on Morris Almond. It is believed that he, along with Brevin Knight, and Jarron Collins will not be back in a Jazz uniform next season. Contract negotiations with Ronnie Price are ongoing.
What does it all mean?
Without getting into too many financial details, the NBA sets a cap on how much a team can spend on players before becoming penalized with a $1 for $1 tax. With all of our option holding players deciding to “Opt-in,” the Utah Jazz Organization has exceeded that threshold. Because matching the offer sheet extended to Paul Millsap will further extend the Jazz’s exceeding budget, there have been confirmed reports that Carlos Boozer will soon be traded.
No matter the outcome of Millsap’s offer sheet, the drama surrounding the Utah Jazz Organization is enough to fill a season worth of scripts for a daytime soap opera. And I for one am hooked. I have been thinking of a few titles of what the Jazz Soap Opera could be, and so far my top choices are, “Nights of our Lives,” “The Young Players and the Restless Sloan,” or “How the Roster Turns.”
Fan Options
Just like the highly paid players, each fan holds an “Option.” This option comes up each year in our imaginary fan contracts that allows us to choose whether we will “Opt-in” as fans and be exciting for the upcoming season, or “Opt-out” of our excitement for the upcoming season and chose to “sign-away” our time with something new. I would like to announce that before the deadline approached and the drama even began, that I have Opted-In for the excitement and the upcoming season. I have also chosen to sign an excitement extension with the Jazz. My new extension is good for the next 4 years. Until that time, I have no choice but to be ready to go! Preseason games are only 12 weeks away!!!
(Part 2 forthcoming)
