Cavs Make History with Latest Contract Move
Originally posted on Last Word On Sports
By George Hatzadony | Last updated 9/9/24
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.
“It was all so fast that I couldn’t even ask myself if I wanted to be a professional” Rubio said. “But with the National Team, I was not afraid, I did not know that there were things that could be twisted. I was only thinking about the good things. I was having so much fun that I could have played with only one leg.”
In August 2023, Rubio was placed on mental health leave by the Cavs, before the two sides agreed on a contract buyout.
“My mind went to a very dark place” Rubio added. “The last injury with the Cavs was very hard but it wasn’t the big factor that led me to that. It was small things that had been there for years and finally turned against me.”
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 Make History
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.
Cleveland is the first team to try out this style of payment. It seems designed to help teams in the short-term manage their salary. Koby Altman and his staff believe the ‘delayed stretch’ will provide them some monetary relief.
The Cavs will now enter the season with 13 rostered players. Recently, the team officially announced their two-way contract signings. As well, Cleveland announced the re-signing of former NBA Champion Tristan Thompson. The Cavs roster has just two open standard contract spots heading into the season.
