Sunday, March 08, 2009

2009 Free Agency = Possible Paycuts

(Will Bibby need a bailout in 2009-10?)

In 2010, one of the biggest NBA Free agent situations in some time, if not ever, will be the talk of the league. Eligible players like Lebron, Wade, Chris Bosh and many others will be highly sought after. The New York Knicks are amongst one of several teams interested in a franchise player as they dealt many stars away this past season to clear cap room. But prior to 2010, there's still 2009 and free agents. The NY Daily News takes a look at the 2009 Free agent class and how they may come up empty when it comes to a big payout from some team. The author reminds everyone about the tanking economy and how many NBA teams will be looking to shed salaries rather than add new pricey contracts.

"Teams are going to be looking to shed salaries, not take on contracts," said one Eastern Conference executive. "There's already a huge concern about next season in terms of ticket sales, suite sales and corporate sponsorships. Those are the three areas, primarily. With the way the economy is going, pro basketball will be no different than the rest of the business world. Teams' salary budgets and coaching budgets are going to drop. So this is not a very good summer to be a free agent."

The article mentions Mike Bibby, guard from the Atlanta Hawks, and says that his $15 million deal with the team runs out this season. Bibby's 31 and while Detroit, Oklahoma City and Memphis will all have cap room, none of them really need a point guard. That's not to say a playoff contender team won't make a move towards a player of his caliber. Still, Bibby may be forced to take a drastic paycut and stay with the Hawks, or consider the popular option players have started taking recently: bring their skills overseas to make more money- foreign money that is.

Read full article: Hard Times! With economy tanking, 2009 NBA Agents may come up empty at NY Daily News

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