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The Madison Square Garden Company Message Board

  • jpmelito jpmelito Jul 17, 2012 2:53 PM Flag

    Lin's contract NOT a killer!

    It's been widely reported that the $15 mil 3rd year salary could cost the Knicks upwards of an $45 million in luxury tax penalties. This is NOT true!

    The NBA Collective Bargaining Agreement has a "Stretch Provision", whereby a player's remaining salary and his cap hit may be stretched across twice the number of seasons remaining on the contract, plus one. This means that Lin could be waived before his last year and his salary would be stretched out over 3 years, resulting in minimal luxury tax penalties.

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