Duncan’s salary cut provides tax relief Spurs Nation
Before even one game of the Spurs’ 2012-13 season is contested, Tim Duncan already has made a significant contribution to the team’s success.
By accepting an $11.5 million cut from the $21.15 million salary he earned last season, Duncan enabled the club to re-sign its most coveted free-agent players, add 2009 draftee Nando De Colo and still drop below the NBA’s projected luxury-tax threshold for next season.
According to contract figures that have been officially released to all NBA teams, Duncan will be paid $9.64 million in the first season of the three-year deal he signed July 11.
After being the third-highest paid player in the league last season, behind only Lakers star Kobe Bryant ($25.24 million) and Boston’s Kevin Garnett ($21.25 million), Duncan next season will be the fourth-highest paid Spur.
All player salaries last season were pro-rated to account for the 66-game post-lockout season.
Veteran guard Manu Ginobili, at $14.1 million, will be San Antonio’s highest-paid player next season, followed by All-NBA point guard Tony Parker ($12.5 million), veteran guard-forward Stephen Jackson ($10.06 million) and Duncan.
A two-time NBA Most Valuable Player, the 36-year-old Duncan will see his salary rise to $10.36 million for the 2013-14 season. The team captain is guaranteed $10 million for the 2014-15 season, but he has an opt-out clause.
After the NBA’s moratorium on free-agent contract signings ended July 11, the Spurs in short order announced they had new agreements with Duncan, veteran big man Boris Diaw, guard Danny Green and point guard Patty Mills.
The club also signed De Colo, currently in London with the French national team for the Olympic tournament that begins Sunday.
The official details of Green’s contract call for the shooting guard from North Carolina to receive $3.5 million next season, $3.76 million in 2013-14 and $4.03 million in 2014-15. Green, who came to training camp last season without a guaranteed deal, started 38 games last season. He made 43.6 percent of his 3-point attempts, eighth-best in the league, and averaged 9.1 points per game.
Diaw, signed March 23 after being bought out of the remainder of a $9 million contract with the Charlotte Bobcats, signed to a two-year deal that will start at $4.5 million next season and jump to $4.69 million in 2013-14.
Mills, the Australian-born veteran who joined the Spurs late last season, will be paid $1.09 million next season under terms of the deal he signed July 13. The second year of Mills’ deal, at the team’s option, is at $1.14 million.
De Colo’s two-year contract is for $1.4 million next season and $1.46 million in 2013-14.
The five recent signings give the Spurs 14 players with guaranteed contracts for next season, at a total of $69.13 million. That is safely beneath the projected luxury-tax threshold, unchanged from last season’s $70.307 million.
The Spurs are reported to have exceeded last season’s tax threshold by $2.5 million.