Hornets Match Suns’ Offer Sheet, Retain Gordon at Maximum Salary

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Published: July 14, 2012

Eric Gordon continues this offseason in the same way that he started it: as a member of the Hornets.

By matching the Suns’ offer sheet, the Hornets have signed Eric Gordon to a max deal, and apparently Gordon has “stated his committment to the Hornets” according to Yahoo’s Marc Spears. The four year, $58m deal ($13,668,750 first year, $615,093 increases), consumes a large portion of the Hornets remaining cap space, leaving them approximately five million under the $58.044 million dollar cap. They also have the “room MLE” available to them, which allows them to pay a free agent up to $2.575 million.

The Hornets have renounced their rights to Marco Belinelli, Carl Landry, and Chris Kaman, so they cannot be signed by the Hornets into Bird exceptions. Additionally, the Hornets have forfeited the use of the midlevel and bi-annual exceptions. Rumor has it that the Hornets may place a bid on Luis Scola, and now that they have matched Gordon’s contract, they can place a maximum bid of a little over 15 million for the remaining years (three) on Scola’s contract.

More details on the exact framework as we get them. Stay tuned.

 

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  1. Pingback: Post-Gordon-Signing Hornets' Salary Update | New Orleans Hornets | Hornets247.com

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