May 21, 2013

Report: Zydrunas Ilgauskas Agrees to Buyout with Wizards

February 25, 2010 by 30 Comments

cavs hallway IlgauskasAs fans have eagerly awaited the buyout news surrounding former center Zydrunas Ilgauskas, Michael Lee of The Washington Post reports that Ilgauskas has come to terms with the Washington Wizards and an announcement is slated to be made today.

Lee, who has been all over this transaction since he broke the news of the original trade that allowed the Cavaliers to acquire forward Antawn Jamison, claims that the move cost Ilgauskas between $1-$1.5 million in buyout money.  Upon the official announcement, Ilgauskas would have to clear the 48-hour waiver period and then be free to go to the team of his choosing as an unrestricted free agent.  As reported over the past week, teams that are allegedly interested in Ilgauskas continue to be the Dallas Mavericks, Denver Nuggets, Atlanta Hawks and Utah Jazz.

Despite prior reports to the contrary, Ilgauskas would be allowed to return to the Cavaliers – a team that would also welcome his services over the rest of the season – after March 21st due to the 30-day window that is a part of the trade agreement.  Once Ilgauskas becomes a free agent, it becomes fair game to discuss any and all teams.  As reported, Atlanta and Utah have the ability to pay Ilgauskas more money than the Cavs via their mid-level exception.  Being over the salary cap, Cleveland would be forced to use their bi-annual exception which is just shy of $2 million.

In a text message sent to Lee, Ilgauskas’ agent Herb Rudoy said that he anticipates Ilgauskas to decide his future “by the end of this coming weekend.”  Cavaliers beat writer Brian Windhorst has labeled the Cavaliers as “heavy favorites” to acquire the soon-to-be free agent.

(Update: Windhorst reports that the deal is complete.  “Signed, sealed, and delivered.”)

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(image courtesy of WKNR’s Really Big Show)

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  • Brian

    It’s now up to Z, and only Z where he wants to play. If his choice is to play elsewhere it will be his loss…

  • http://www.waitingfornextyear.com DP

    Confused about waivers. Is it like baseball waivers where anyone can claim him? If so, do they claim him at his current contract value, which in essence makes it impossible for teams to do as he’d put them (way more) over the cap?

  • mike

    i believe in order to claim him, a team has to actually have the space under the cap to absorb his full contract value ($11 million-ish). no team in the nba has that kind of cap space, so no team can claim him.

  • http://www.waitingfornextyear.com DP

    That’s what I thought, mike. Just wasn’t 100% sure if the “buyout” erased part of his contract value for waivers.

  • Brian

    Does the 30-day window start today, or when the trade was made?

  • oribiasi

    Atlanta Hakws s/b Atlanta Hawks, second graph.

  • stin4u

    30 days from the trade date

  • Jack

    From the trade.

    By the way, there’s still an outside chance that we can reassemble Gooden, Hughes AND Z for the playoff run…any takers?

  • JJ

    I am far from sure of this, but isn’t the 11 million contract prorated? So teams would only absorb that amount?

  • http://www.waitingfornextyear.com Scott

    “So teams would only absorb that amount?”

    In terms of real dollars, yes. But not from a salary cap perspective.

  • Cribbage

    @8, You just gave me nightmares. Do not do that this early, please.

  • Joe H

    In order to claim him off waivers a team would have to be 11.5 mill under the cap. no team is far enough under the cap to take that hit

  • Jack

    My apologies.

    On a more serious note, we could be seeing Mr. Hughes in round one…just at the other end of the floor.

    Who wants to see Larry Legendarily Bad weigh down the Cats so we can see the Bucks…

    …I really want to see the Bucks.

  • Jason

    If we don’t get Z, is there another Center we can pick up to help out Shaq? We only have one ‘C’ on our roster…

  • archangel

    This may have already been covered, but I’m still so confused as to how this buyout business works. Basically I heard one thing from an interview with Windhorst, and then Mary Schmidt Boyer was saying something different. Obviously I trust Windhorst more, but there’s always that doubt. The way I understand it though as per Windhorst, is that Z becomes a free agent this weekend. Z can sign with any team (including the Cavs) after he clears waiver. If he signs with a team before March 1st, he will be eligible for the playoffs. While he can sign with the Cavs prior to March 1st (making him eligible), he can not actually play a game until March 21st. But at that point, because he signed before the 1st, he would be allowed to participate in the playoffs. Am I getting this wrong? If someone on staff understands the rules completely, please post something explaining it. There seems to be a lot of confused people out there and I’d really like to know the rule.

  • JNeids

    Z’s freeeeeeeee!!!!!!!!

    I know this would have been more relevant/funnier when the trade was made, but when I think of how the conversation went down between Ferry and Z, I like to think it was a lot like in “Little Big League” when Billy had to trade Jerry Johnson.
    Ferry: “Z, do you know how hard this was for me? I mean, last year Gilbert tried trading me a Lebron card for your rookie card and I just couldn’t do it!”
    Z (in a heavy accent): “That’s supposed to make me feel better? I can tell the wife that we got traded to Washington, but it’s ok ’cause Ferry still has my rookie card?!?”

    While I’m spitting out old ideas, I also like to think Ferry got the Wiz GM to finally cough up Jamison much like Michael J. Fox got a keg of beer in “Teen Wolf.”

    Old lady walks away with alcohol is actually Mark Cuban walking away with Caron Butler. Danny Ferry steps up to counter.
    Ferry (weakly): “I’d like Antawn Jamison.”
    Old man behind register: “Look, sonny, I told you I’m not helping out the Cleveland Cavs!”
    Ferry (growling, eyes glowing red): “I’d like Antawn Jamison.”
    Old man runs off to get him.

    If only I had the software and wherewithal to take a movie scene and dub over it…

  • Chris

    @ archangel – He can sign with any team and be included on the playoff roster if he clears waivers by March 1st. He doesn’t have to be on the roster by March 1st.

  • Bad.Beat

    If he’s smart he will not return to Cleveland. The Cavs are not going to win it all this year I’m sorry to say. He should go to Atlanta.

  • stin4u

    0% chance Z will sign with anyone else but the cavs…I know its a stretch…but im calling it

  • Andy

    @Jason, I was wondering the same thing. I think every one is just banking on Z so much that this issue is being ignored. There has to be some type of talk going on that is all but guaranteeing Z coming back.

  • Oppie

    @Jack. The thought of that is scary. How sad was is that 2 of those guys (Z excluded) actually started for us in the Finals?

    @Jason/Andy. Word on the street is that the Mavs just had a tryout with Dwayne Jones, there’s an option. An awful option, but an option nonetheless.

  • http://shakesthesnowglobe.blogspot.com EZ

    @17

    Per Windhorst’s podcast yesterday Z would have had to be bought out by the first, not cleared waivers by the first.

    @15

    If Z is bought out by the 1st he is eligible to play in the playoffs. If he’s bought out after the first any team can still pick him up and he can play, but he won’t be able to play in the playoffs.

    Since we traded Z, we have to wait 30 days before we can sign him. No other teams needs to wait, so once he clears waivers he could theoretically sign with, say, Dallas immediately whereas the Cavs have to wait until March 21 to sign him.

  • Matt from Lyndhurst

    IF Z comes back to the Cavs, the smartest thing Coach Brown could possibly do is to start Big Z the very first home game (by my estimation, that’d be Sunday March 28th against Sacramento).

    The crowd would go absolutely nuts and Z would appreciate it. It will not only go a long way in mending the hurt feelings, but also it would be a way for Mike Brown to make it up to Z for sitting him in the game he was supposed to break the all-time Cavalier games record.

  • jcm

    By my calculations, the buyout costs Z little or nothing. He had a $600K trade kicker, and will presumably get the full biannual from the Cavs, which is $2M prorated. The Cavs season is 70% complete, so the prorated salary should be $600K. That $1.2M falls right into the $1-$1.5M range for the buyout.

    Basically, he’s getting a 30 day paid vacation and coming back to a better team.

  • Brian

    @23… I think there will be a strong push from LBJ as well as Shaq for that to happen.

  • http://www.msblsim.com boogeyman

    @23 I can’t imagine Brown doing this but seriously I’m not in favor of any fake things everyone knows the fans want Z back and the Cavaliers didn’t trade him away like nothing. I’m personally interested to see just how “loyal” Z is and if indeed he’ll return like we all expect. I’ll believe it when I see it and yes that is the skeptical Cleveland sports fan in me.

  • http://www.zfcomics.com dgriff13

    That first home game when Z is back home at the Q… I will be stocked with tissues. He better start, and the standing O should last every minute he plays. And I will bawl like a baby.

    #freedZ

  • stin4u

    The guy claimed the thought of putting on a new uni made him sick to his stomach. He’ll be back, book it.

  • http://waitingfornextyear.com Jaythetruth

    We need Z’s length verses the Lakers. I hope he comes to his senses and return to his home and be apart of a title run.

  • 5haun

    @24 I read somewhere that the only way it would cost Z is if he decides to play next year. When we traded him we lost his bird rights, meaning that the contract he would sign next year with us couldn’t be anywhere near what he was getting this year ($11.5m). The reason for this is that we can go way over the salary cap to resign a player using their bird rights, but without the bird rights we can’t offer him as much. However, this may not cost him too much, because I don’t think he would’ve made 11 million next year if he were to resign.

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