Israeli NBA player Omri Casspi is said to have signed a one-year contract with the Sacramento Kings in what pundits claim is a crafty deal for the team to stay below a luxury tax threshold.
The rumors were kicked off by a Twitter message from ESPN’s NBA reporter Max Stein, who tweeted last week that “ESPN sources say Omri Casspi is finalizing a one-year contract at league min. with Sacramento tonight after clearing waivers.”
Hoop Rumors reported on Wednesday that, by signing Casspi for just one year, the Kings can stay below the luxury tax limit. The team was said to be at $75,852,705 in team salaries, based on an estimate from the Basketball Insiders website, putting them just $976,295 below the threshold.
Casspi will get a total of $1,063,384, but due to league regulations the team will only have to foot $915,243 of the bill, still short of the tax limit.
ESPN sources say Omri Casspi is finalizing a one-year contract at league min. with Sacramento tonight after clearing waivers earlier Friday
— Marc Stein (@ESPNSteinLine) July 25, 2014
By clearing waivers last week — meaning no other team put in a bid for him — Casspi was available for the deal that will bring him back to the team where he played his first two seasons in the NBA.
In 2009, Casspi became the first Israeli player in the NBA. He has since signed with the Cleveland Cavaliers, Houston Rockets, and recently the New Orleans Pelicans.