Cavs Make History with Latest Contract Move
The Cleveland Cavaliers have made history as they are the first team to utilize the ‘delayed stretch’ plan to pay former player Ricky Rubio. The new Collective Bargaining Agreement has allowed teams to now stretch the salary they are paying to a waived player. The Cavs and Rubio mutually agreed on a contract termination at the beginning of 2024.
Cavs Make History with Latest Contract Move
Rubio’s Time As A Cavalier
Ricky Rubio was endeared to the Cavaliers’ faithful during the 2021-22 season. Rubio played 34 games with the team before tearing his ACL in late 2021. However, despite his injury, during the time he played, Rubio averaged a career-high in points at 13.1. Additionally, the Spaniard notched 6.6 assists, 4.1 rebounds, and 1.4 steals per game as he led a young Cavs team to playoff contention.
During his injury, Rubio was dealt to the Indiana Pacers in a move that helped Cleveland land Caris LeVert. But, when Rubio’s contract expired in the summer of 2022, he returned to Cleveland on a three-year, $18.4 million dollar deal. Rubio returned from his injury in early 2023 but never reached the level he was at pre-injury.
Rubio has since returned to Spain, playing for his boyhood team Barcelona. Rubio played for the Minnesota Timberwolves, Phoenix Suns, and Utah Jazz in addition to his time in Cleveland as an NBA player.
The Cavs’ decision to defer Rubio’s contract will stretch the $1.3 million he is owed until 2027. Rubio’s $1.3 million in dead money will now become three years of dead money but at $425,000 increments. The move will help the Cleveland front office save each year. With all the Cavs contracts in effect, the team sits about $1.2 million above the luxury tax heading into the 2024-25 campaign. However, without the inclusion of Isaac Okoro‘s qualifying offer, the team is about $10.6 million under the luxury tax.
