At the least, Jeremy Lin is a valuable asset. Whether he’s in the prime of Linsanity, or just an average point guard- he’s worth something, and the Knicks can’t let him walk for virtually nothing in return. Personally, I hate to talk about him like this, as nothing more than a trading chip, but if that’s what it takes for the Knicks and their fans to realize they should match- then I’ll do it. The Knicks will still be well over the cap if they don’t match the $25.1M offer to keep Lin, so why not keep a valuable ‘chip’ to give your organization some flexibility toward roster maintenance in the future.
Jeremy Lin would cost the Knicks over $43 million in 2014-15, and with that said, it’s more than reasonable to argue the Knicks shouldn’t match, but that’s where the stretch provision comes in play. The stretch provision is a reliable, and safe, option if anything and everything goes wrong with Lin.
Otherwise (if the contract or extension was signed under the current CBA), the remaining guaranteed salary is paid over twice the number of remaining years, plus one, per the Stretch provision:
- If the player’s salary payments are spread-out using the Stretch provision, the team may elect to stretch the salary cap charge to match2. For example, if two seasons remain on the player’s contract when he is waived, and the payment is spread-out over five years per the Stretch provision, then the team may elect to spread-out the salary cap hit over those same five years.