Ricky Rubio Contract Buyout

The following day, Rubio's father told a Spanish media outlet his son might return to Spain for at least one more season.[19] Rubio did not attend an introductory press conference by the Timberwolves.[21] Rubio had a buyout clause in his Joventut contract reported by various media outlets as ranging from $6.6 million to $8.2 million, and Timberwolves general manager David Kahn admitted Rubio would probably have to play one more season in Spain to reduce or avoid the buyout.[21]

ricky rubio contract buyout

On 22 July, the Associated Press reported Rubio was seeking to leave Joventut, regardless of whether he was able to come to the NBA. The report indicated that the ACB powers FC Barcelona and Real Madrid were both interested in signing Rubio if he could not immediately go to the NBA. The main stumbling block to Rubio's NBA move was a clause in the league's collective bargaining agreement that prohibited a team from paying more than $500,000 toward a player's contract buyout. Barça and Real, as ACB clubs, were not subject to this rule and could pay far more toward a buyout.[22] In another development, the St. Paul Pioneer Press reported on 4 August Rubio's representatives had been actively seeking endorsement deals in Minnesota to help finance his buyout (the NBA buyout rules are binding on teams, but not on third parties).[23]

The Timberwolves drafted Rubio fifth overall in June, even though he was still under contract with DKV Joventut in a deal that included an $8.1 million buyout clause. Kahn made three trips to Spain over the summer to try to help Rubio's representatives negotiate that number down, a process that was hindered by NBA guidelines limiting the amount of money Minnesota could contribute to $500,000.

When Rubio backed out of the deal, DKV Joventut reluctantly agreed to trade him to rival Regal FC Barcelona, which will pay $5.3 million to buy out his contract. The buyout, Kahn said, is the largest in European basketball history.

Love also carries some additional value that can't quite be quantified to the Cavs as a young team with very little playoff experience. Love is one of just two players on the roster (along with Mitchell) with any substantial, recent playoff experience. Due to the depth he brings, along with that experience, Cavs president of basketball operations Koby Altman said shortly after the trade deadline passed that he doesn't anticipate a buyout of Love's contract.

The five-time All-Star forward has discussed the possibility of a contract buyout with the Cavs after being dropped from their rotation, a person familiar with the situation told The Associated Press on Thursday.

But after being benched for 12 straight games, Love sought a contract buyout to find a place he could play. He scored eight points and grabbed eight rebounds in 21 minutes, having been a starter in Miami since the day he arrived. 041b061a72