- Posted: 2:27 PM, June 12, 2012
The team has already officially moved to Brooklyn, but there is plenty of work left to be done to put a team on the floor when it debuts at Barclays Center this fall. With that in mind, I’ve put together a cheat sheet for the offseason, with a complete breakdown of the Nets roster, salary cap situation, draft picks, and other assets.
I’ll be continuously updating it throughout the offseason, so be sure to check back here to track the latest developments and see where the team stands:
2012-13 salary cap: $58,044,000
2012-13 luxury tax threshold: $70,307,000
Current Nets committed salaries for 2012-13 season (including roster fillers): $81,642,040
Players signed for 2012-13 season:
SG Keith Bogans: $854,389
SG MarShon Brooks: $1,160,040
PF Reggie Evans: $1,600,000
PF Kris Humphries $12,000,000
SG Joe Johnson: $19,752,645
C Brook Lopez: $13,668,750
SF Tornike Shengelia: $473,604
SG Jerry Stackhouse: $854,389
PG Tyshawn Taylor: $473,604
PF Mirza Teletovic: $3,090,000
SF Gerald Wallace: $9,682,435
PG C.J. Watson $854,389
PG Deron Williams: $17,177,795
Players with player options for 2012-13 season:
PG Jordan Farmar: $4,250,000; picked up his option; sent to Atlanta in Joe Johnson trade, where he was later bought out
SF Gerald Wallace: $9,500,000; declined his option and became a free agent; later re-signed
PG Deron Williams: $17,779,458; declined his option and became a free agent; later re-signed
Restricted free agents:
C Brook Lopez: Nets extended him a qualifying offer, making him a restricted free agent; later re-signed
Unrestricted free agents:
PG Armon Johnson
PG Sundiata Gaines
SG DeShawn Stevenson: signed-and-traded to Atlanta as part of Joe Johnson trade SF Damion James
SF Gerald Green: signed with Indiana
PF Kris Humphries: later re-signed
PF Shelden Williams
SF Damion James
- Lottery protected first-round pick from Houston in 2013 (if Rockets fail to make the playoffs by 2016, it becomes a second-round pick) – sent to Atlanta in the Joe Johnson trade
- The Nets hold all of their own first round picks moving forward.
- The Nets had already given up their second round pick in 2013, 2014 and 2015 before July 1, have agreed to a swap of 2016 second round picks with the Clippers in the Reggie Evans sign-and-trade, and traded their 2017 second-round pick to Atlanta as part of the Joe Johnson trade.
Unsigned draft picks:
SF Bojan Bogdanovic: the 2011 second round pick (31st overall) played last season for Fenerbahce, one of the top teams in the Turkish league. There have been several overseas reports about Fenerbahce and the Nets negotiating to try and bring him to the Nets in time for this coming season, but agent Marc Cornstein told The Post it was unlikely because of the Nets moves this summer, and Fenerbahce later said he wasn’t leaving.
SF Ilkan Karaman: the 2012 second round pick (57th overall) played for Pinar Karsiyaka in the Turkish League, who he played for while on loan from one of Turkey’s biggest clubs, Galatasaray. Like Shengelia, King said that Karaman, a 6-foot-9 22-year-old, will remain overseas as a EuroStash for at least another year, if not longer.
The Nets spent their allotted $3 million for the 2011-12 season on a pair of second round picks, paying for the 41st pick to draft Tyshawn Taylor and the 54th pick to take Tornike Shengelia.
Once July 1 hit, the Nets received an additional $3 million to put into trades, as teams get a total of $3 million to spend each NBA calendar year (from July 1 to June 30).
Salary Cap Exceptions:
$3 million “mini” mid-level: The Nets only have access to what is referred to as the “mini” mid-level, instead of the full $5 million mid-level and the $1.9 million bi-annual exceptions, because using either of the latter exceptions would set them at a hard cap of $74.3 million dollars for the upcoming season.
Instead, the Nets have agreed to use the “mini” mid-level – which allows them to spend as much money as they choose this season – to sign Bosnian power forward Mirza Teletovic.
Once over the salary cap, the Nets can use trade exceptions for up to one year to add a player, or multiple players, without sending a player back in return.
The Nets have a pair of trade exceptions:
$1.4 million: The Nets picked up a trade exception for this amount when they sent Shawne Williams to Portland as part of the Gerald Wallace trade. This exception was originally worth $3 million, but the Nets spent $1.6 million of it to acquire Reggie Evans.
$1.4 million: The Nets picked up a trade exception for this amount when they sent Mehmet Okur to Portland as part of the Gerald Wallace trade.