How the Seo deal got done
The Seo contract is a major win for the NBA and the NBA Players Association, with a $500 million, four-year deal that could bring in as much as $1 billion to the league in free agency and a $100 million guaranteed for the first three years.
But the deal also gives the NBA a big revenue source in the form of ticket sales, which the league says could reach $200 million per year in 2020.
“The NBA will have a new brand, and the league will be able to take on a much bigger share of the revenue,” said Bill Simmons, who is a partner with The Sports Authority in New York and is the owner of the Los Angeles Lakers.
“I think the biggest benefit is the revenue it brings to the NBA.”
The deal was negotiated by Jerry Buss, the NBA’s new general manager.
Buss told reporters on Tuesday that the league would like to sign Seo and another player this summer, and he has made it clear that he wants to add another big name, which is why he has not announced any signings yet.
Buss told ESPN that he will make signings as soon as possible and that Seo’s $50 million signing bonus and his salary will be split evenly among all of the players on the team.
Seo is expected to earn $5 million per season.
The Lakers signed a player to a two-year contract, $10 million of which will go to Seo.
The NBA’s total salary cap is set at $89 million, with about $22 million coming from player contracts.
Seot’s $10.6 million is about $1 million more than the league’s average salary.
Seos contract is about half the league average, but the Lakers and Celtics are the only two teams in the league that have more than $50.3 million in cap space.
The Clippers and Raptors have more cap space than the Lakers at $42.5 million.
Buckets of money could flow to teams in other ways, as well.
The Lakers are expected to pay $5.3 to Seot for the entire three years, with $2 million in buyout incentives, according to ESPN.
The $5,000,000 buyout for the last year of the contract is for $2.8 million in 2020-21, $3.1 million in 2021-22 and $3 million for the next three years ($5 million total).
Buss also told ESPN he wants the Lakers to pay about $3 to $5 more than their maximum contract for the 2018-19 season.
Bucks owner Donald Sterling, who has said that he is willing to sell his team to the highest bidder, is a key negotiator for the league and Seo has made him the centerpiece of his plan to get the team to San Antonio for free.
Seolas contract is worth $5 to $7 million, but that is a fraction of the $16 million the Lakers are projected to have in cap room for next season.
Sterling told ESPN’s Brian Windhorst on Tuesday he will not have a change of heart.
“I will have nothing to do with this,” Sterling said.
“This is a matter for Jerry.
We have a good relationship, and I have nothing but respect for him and his agent.
We will see where things go from here.”
Buss and Seot met in January, when the league announced it would begin its process to sign a player for a three-year, $25 million contract.
Buses agent, Scott Boras, had a strong presence in the process, but he has since left the team and Seos agent, Chris Sotomayor, has been working behind the scenes to convince the league to move forward.
Bills coach Mike D’Antoni said Tuesday that he and Seow were discussing the possibilities of bringing Seo back to Los Angeles, but they decided against it because he is still eligible for a player option for the 2019-20 season.
“We have to figure out a way to get him back,” D’antoni said.
B’Sons contract expires after this season, but his option for next year is still available.
Sot has been a key player for the Lakers this season and the team will have no trouble filling his shoes.
He is averaging 11.5 points and 9.7 rebounds per game.
Seow is averaging 6.6 points and 6.3 rebounds per contest.
Seoh’s presence on the Lakers team has helped them make some major changes, as they are among the top teams in basketball.