Mavericks Waive Finley
Just reported on ESPN a few minutes ago.
here is the article :
"DALLAS -- Michael Finley's final day with the Dallas Mavericks arrived Monday, when the team waived its longtime leader and captain.
"This has been a very difficult process for all of us," Mavericks president of basketball operations and assistant coach Donnie Nelson said in a statement. "Michael has played a huge role in rebuilding this franchise and taking it to where it is today. He is a winner in every sense of the word and I am proud to have shared a locker room with him. We thank him and wish him nothing but the best."
Under a one-time amnesty provision in the NBA's new labor contract, the Mavericks saved $51 million in luxury taxes over the next three years by waiving Finley, who became an unrestricted free agent.
Finley will still be guaranteed the $51 million left on his contract, plus whatever money he gets from a new team. He won't be able to re-sign with the Mavericks until his original contract expires after the 2007-08 season, when he will be 35.
Among the teams expected to try to sign Finley are the Suns, Spurs, Heat, Pistons and Nuggets, according to ESPN.com's Marc Stein.
The San Antonio Spurs have just over half of their $5 million mid-level exception remaining to woo Finley, and the top two teams in the East are offering more. The Miami Heat and the Detroit Pistons will be offering Finley a contract starting at the full mid-level exception, as will the on-the-rise Denver Nuggets.
The deadline for taking advantage of the amnesty provision was midnight ET Monday.
Finley was traded to the Mavericks from Phoenix on Dec. 26, 1996, and is the longest-tenured player on the Dallas roster. He averaged 19.8 points for the Mavericks over 626 games the past 8½ seasons.
The Mavericks reportedly have already found Finley's replacement.
Reports out of Texas said the Mavericks have reached an oral agreement with veteran swingman Doug Christie on a one-year, $3 million deal. Before Christie officially becomes a Maverick, he must wait seven days to clear waivers, according to league rules.
Christie was waived Thursday by the Orlando Magic under the same amnesty clause.
Finley was an All-Star before Steve Nash and Dirk Nowitzki were, then together that trio became known as the "Big Three" -- taking the Mavericks from being one of the league's worst teams to having at least 50 wins and going to the playoffs four straight seasons. Nash left as a free agent last summer to the Suns.
In 2001, Finley signed a maximum contract of $100-plus million over seven years. The Mavericks owe him about $16 million for 2005-06, with salaries of roughly $17 million and $18 million over the next two seasons.
This past season, Finley had some of the lowest averages in his 12 NBA seasons, scoring 15.7 points a game -- his lowest ever in Dallas. He shot 42.7 percent from the field and averaged a career-low 4.1 rebounds.
Since averaging at least 20 points a game in his first five full seasons in Dallas, Finley's scoring average has dropped each of the last three seasons.
In June, Finley had arthroscopic surgery to remove bone chips from his right ankle, which bothered him most of the season and even made him miss 15 games before Christmas. The surgery was successful, and he should be fully recovered by the start of training camp.
Christie, who played for the Sacramento Kings before being traded to the Magic in January, will still get about $8 million for Orlando. He's also played for the Los Angeles Lakers, New York Knicks and Toronto Raptors, averaging 11.4 points and 1.9 steals per game over his career."
Just reported on ESPN a few minutes ago.
here is the article :
"DALLAS -- Michael Finley's final day with the Dallas Mavericks arrived Monday, when the team waived its longtime leader and captain.
"This has been a very difficult process for all of us," Mavericks president of basketball operations and assistant coach Donnie Nelson said in a statement. "Michael has played a huge role in rebuilding this franchise and taking it to where it is today. He is a winner in every sense of the word and I am proud to have shared a locker room with him. We thank him and wish him nothing but the best."
Under a one-time amnesty provision in the NBA's new labor contract, the Mavericks saved $51 million in luxury taxes over the next three years by waiving Finley, who became an unrestricted free agent.
Finley will still be guaranteed the $51 million left on his contract, plus whatever money he gets from a new team. He won't be able to re-sign with the Mavericks until his original contract expires after the 2007-08 season, when he will be 35.
Among the teams expected to try to sign Finley are the Suns, Spurs, Heat, Pistons and Nuggets, according to ESPN.com's Marc Stein.
The San Antonio Spurs have just over half of their $5 million mid-level exception remaining to woo Finley, and the top two teams in the East are offering more. The Miami Heat and the Detroit Pistons will be offering Finley a contract starting at the full mid-level exception, as will the on-the-rise Denver Nuggets.
The deadline for taking advantage of the amnesty provision was midnight ET Monday.
Finley was traded to the Mavericks from Phoenix on Dec. 26, 1996, and is the longest-tenured player on the Dallas roster. He averaged 19.8 points for the Mavericks over 626 games the past 8½ seasons.
The Mavericks reportedly have already found Finley's replacement.
Reports out of Texas said the Mavericks have reached an oral agreement with veteran swingman Doug Christie on a one-year, $3 million deal. Before Christie officially becomes a Maverick, he must wait seven days to clear waivers, according to league rules.
Christie was waived Thursday by the Orlando Magic under the same amnesty clause.
Finley was an All-Star before Steve Nash and Dirk Nowitzki were, then together that trio became known as the "Big Three" -- taking the Mavericks from being one of the league's worst teams to having at least 50 wins and going to the playoffs four straight seasons. Nash left as a free agent last summer to the Suns.
In 2001, Finley signed a maximum contract of $100-plus million over seven years. The Mavericks owe him about $16 million for 2005-06, with salaries of roughly $17 million and $18 million over the next two seasons.
This past season, Finley had some of the lowest averages in his 12 NBA seasons, scoring 15.7 points a game -- his lowest ever in Dallas. He shot 42.7 percent from the field and averaged a career-low 4.1 rebounds.
Since averaging at least 20 points a game in his first five full seasons in Dallas, Finley's scoring average has dropped each of the last three seasons.
In June, Finley had arthroscopic surgery to remove bone chips from his right ankle, which bothered him most of the season and even made him miss 15 games before Christmas. The surgery was successful, and he should be fully recovered by the start of training camp.
Christie, who played for the Sacramento Kings before being traded to the Magic in January, will still get about $8 million for Orlando. He's also played for the Los Angeles Lakers, New York Knicks and Toronto Raptors, averaging 11.4 points and 1.9 steals per game over his career."
