| | Associated Press
MINNEAPOLIS -- Joe Smith could get as much as $93 million
over 10 years from the Minnesota Timberwolves under a contract
arrangement being challenged by the NBA as violating the
salary cap.
| |  | |
| Smith |
The secret deal guarantees Smith three one-year contracts of
$1.75 million, $2.1 million and $3.6 million, The New York Times
reported Thursday, attributing the figures to "several people"
who have seen the contract.
Also, owner Glen Taylor agreed to give Smith two additional
contracts prior to the 2001-2002 season that cumulatively would be
worth between $40.6 million and $86 million over seven years, the
newspaper said.
The amount would be dependent on performance clauses, such as
whether Smith made the All-Star team or led the Timberwolves to a
championship.
The league last week claimed the deal violated the salary cap,
and sent the case to arbitrator Kenneth Dam. If Dam confirms a
secret deal, commissioner David Stern could impose
multimillion-dollar fines, loss of draft picks, the voiding of
player contracts and suspension of team personnel.
Smith in 1999 signed a one-year contract for $1.75 million, a
figure which some in the NBA considered low for a 6-foot-10 forward
who was the first overall pick of the 1995 draft.
However, Taylor and Smith had earlier made a deal that was not
reported to the league, and it was that arrangement NBA said was
for "tens of millions of dollars, and was deliberately hidden."
Neither Taylor nor Timberwolves' vice president Kevin McHale
returned phone calls on Thursday.
The NBA said it would have no further comment because the matter
is in arbitration.
Joel Litvin, the NBA's general counsel, said last week, "This
is the most serious salary cap offense that can be committed by
teams, players, or agents."
Taylor told The Associated Press last week that he met with NBA
Stern and told him he thinks the team followed procedures in
reaching an agreement with Smith on a $2.35 million, one-year deal.
Smith, selected first overall by Golden State in the 1995 draft,
averaged 9.9 points and 6.2 rebounds last season. | |
ALSO SEE
NBA charges Timberwolves violated salary cap rules
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