Report: Sixers Sign Thad For Five
Kate Fagan and Adrian Wojnarowski have the scoop via Twitter. Thad won't test the market, the Sixers have apparently locked him down for five years for $42M. Woj had the number first, Kate had the deal being done.
Obviously, we need more details, but this deal would probably have to start higher than $7M/year to reach $42M over five. Based on the other contracts that have been handed out, this isn't out of line with the market. More analysis to follow.
OK, so a starting salary of $7,250,000 with yearly raises of the max allowed (7.5%) would put the five year total at a little over $52M. If this is a typical contract, that's probably where he'll start in year one. This would be the yearly breakdown:
$7,250,000
$7,793,750
$8,378,281
$9,006,652
$9,682,151
Total: $42,110,835
If the contract is a done deal, and this is how it's structured, the Sixers are probably at about $63,665,659 against the cap. Meaning they can't use the MLE unless they withdraw their QO to Hawes and renounce his bird rights, sign him for less than $2M, use the amnesty provision on someone else (like Nociono), or make a trade which drops some money from their books.
Happy Thad's back? Sad they didn't get a bargain in the process? Thoughts in the comments.
