Yes it was. 1st round draft picks have high value and have always been the center piece for major trades in the league.
First round picks have value, but how much value depends on a lot of factors. Picks that are locked into the 20+ range have a lower value than picks that are not. With the league now allowing second round picks to be given "effective FRP contracts", it appears that teams are beginning to value late firsts lower than early seconds because of potential financial savings. Part of the value of a pick is in knowing who may be (and who may not be) available to draft. Is an unprotected pick from a hamfisted franchise four years down the road worth a lot? Yes. Is the #24 pick in a draft with a fairly weak back end with 23 players already off the board worth a lot? Depends on what "a lot" means, but, probably no? Unless a team knows exactly who they want to pick at that spot, the pick is worth very little.
We used a 1st round pick and got nothing in return except for cap space that we used on nobody. How is this not poor asset management?
Because we took an asset and used it to get rid of a larger liability. A net positive would seem to qualify as good asset management.
What's the cost of having Holmes on this team vs. not having him on the team? Was it necessary for the Sabonis extension?
$25M over two years. Was it
strictly necessary for the Sabonis extension? In terms of cap rules, no. However, it's possible that come this offseason it may make the difference between being in the tax and not being in the tax. Holmes was taking up a roster spot, which was freed up. $25M is $25M, not exactly chump change for a small-market franchise. We tend to see the NBA as if teams have unlimited bank accounts, but in reality it's a business and salaries are important. Holmes represented something a bit short of 10% of the salary cap for two years. That's not nothing.
Look at it this way: Is it strictly necessary to trade in your old car when you buy a new car? Not necessarily, but if you can't use both cars, why would you want to make the payment on the old one too just to have it take up room in your garage you could use to store something else?
You can't seriously be using win shares to justify the trade... how do you even equate a draft position to win shares.. let alone salary.. and let's pretend we did draft a young player with #24. That means 4 years of a controlled rookie contract on a cheap rookie scale with RFA at the end of it.
Of course I'm serious, and stop calling me Shirley. Equating salary to Win Shares is fairly easy because we know how much money is paid out and we know about how many Win Shares are created each year. I've gone through it before, and the answer is that a team should expect to pay about 3% of the salary cap (or right now, ~$4M) for one WS. And 4 years of a controlled rookie contract (in this case, about $13M total) is not such a great deal if the player you pick isn't going to be a big enough contributor. There's not a guy right now taken in the range between #24 and #34 (where we picked Colby) that jumps out as an obvious contributor down the road. Maybe it happens, but nobody obvious. And you'll notice that we waited until after #23 came off the board to trade the pick - Monte knew exactly what our options were, and it's clear he wasn't enthused with them.
What's the point of getting rid of $25mpy over 2 years when you do nothing with that money?? You're talking $12.5mpy which is not even an albatross contract.
Again, $25M is actually $25M. I don't imagine you'd care to throw $25M of your own money down the drain, so I'm not sure you should be so cavalier as to throw $25M of somebody else's money down the drain.
Look at what the Mavericks got for Holmes + a draft pick compared to what we got... Daniel Gafford. At the end of the day, we gave up a 1st round and received nothing from it.
Yes, Gafford would have been a much better option. In fact, it looks like a fleecing. But I don't imagine that Holmes for Gafford was on the table on draft night, and it would be foolish to skip a reasonable opportunity to to make a net-positive trade, and continue with salary obligations you can't use, in the mere hope that somebody will make a mistake and give you extra value in the future.