Bucks will pay Larry Sanders for next 7 years
The Milwaukee Bucks are using the stretch provision to pay Sanders.
Although things did end amicably for Larry Sanders and the Milwaukee Bucks, they will be dealing with each other until 2022. After deciding to walk away from the NBA, Sanders agreed to a buyout and will receive $1.9 million over the next seven years from the Bucks.
The Bucks are using the NBA's stretch provision to pay Sanders as Gery Woelfel of the Racine Journal Times reports:
In recent days, league sources claim the Bucks will use every year they are allotted under the NBA's “stretch provision.'' And that means the Bucks will pay Sanders in annual increments of approximately $1.9 million over a seven-year period. That amount will be applied to the Bucks’ salary cap each season through the 2021-2022 season.
The stretch provision allows teams to make their payments for twice the number of years remaining on a contract, plus an additional year. Sanders has three years remaining on his contract.
While Sanders may not even return to play in the NBA, he will always be on the minds of the Bucks until 2022. Sanders signed a four-year $44 million dollar contact with the Bucks in 2013. Due to injuries and suspensions, he only played 60 games since signing the contract and will now only recieve close to half of his original contract. He doesn't seem too worried though as he is putting his health first and trying to figure out what the next chapter of his life entails.
For the Bucks, while $1.9 million is not eating a huge hole in their salary cap, it is still money that is being spent on a player that is not even there. The Detroit Pistons used the stretch provision to pay Josh Smith after waiving him and Stan Van Gundy said after the move that it was advantageous for a team to use it.
"It's an advantage in the new CBA to be able to do this," Van Gundy said. "So there is an advantage for us going forward that helps us accelerate our rebuilding efforts."
The Bucks may feel the same way as they look to move on from Sanders. Agreeing to go separate ways was the best move for both parties but one that will have lasting effects.
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