This was a very rare trade, in that the Blazers sent a player out and got nothing in return. The fudge factor in a trade, as far as getting back what you send out, is 25 percent. In other words, if you send out 12.5 million, you only have to take back 10 million. Because of this factor, the Blazers created a trade exception in the Zach Randolph deal with New York.
Look at it this way. Zach and Dan Dickau were traded for Channing Frye and Steve Francis. The reason the Blazers were able to then pull the second part of the deal was where Fred Jones entered the equation. By adding Jones to the deal, the Blazers were able to then approach Phoenix and take a player off their hands (James Jones) and give them nothing but a cash in return. The Suns, who are trying to cut payroll, were so excited about this opportunity, they threw the 24th draft pick into the deal. That, of course, turned out to be Rudy Fernandez, who was considered by many the "steal of the draft" even though he won't play for the Blazers next season. Several execs said that if not for the buyout in his European contract, Fernandez would have most certainly been a lottery pick.
You don't see this kind of a deal very often because it really can only be executed in bigger trades, like this one. It took the creativity of Penn to discover a way to make this happen. Kevin Pritchard has publically given a lot of credit to Penn for making this deal possible. Another Western Conference executive was earlier quoted as saying, "there are maybe one or two guys in the league who could have pulled a deal like this off." It's about knowledge of the rules, and then having and owner and general manager willing to offer the support to execute the deal.
Once again, the Blazers basically gave up Fred Jones to the Knicks and didn't take anyone in return. By doing that, for one year, the team had the ability to replace Jones' salary plus $100k. They told Phoenix they'd take James Jones off their hands and the Suns wouldn't have to take anyone back. That's why I've termed it as the Blazers "created" the trade exception. I've seen it written a lot that the Blazers traded for a trade exception. That's not accurate. It is difficult to understand, however, and I had to have Penn explain it to me about 10 times to even get this much of an understanding of it. As Penn has told me, he had to do the same thing in the war room on draft night. It actually seemed too good to be true, and that's why he was asked to repeat himself about a dozen times.
This then can be actually viewed as two different trades, even though it came across as one big trade. It's basically, Zach and Dickau for Francis and Frye. Freddie for James Jones and Rudy Fernandez. When you add the second piece, and consider what's coming in the future, as far as cap room in two seasons, and the potential of Fernandez, the deal really gets attractive for Portland.
Look at it this way. Zach and Dan Dickau were traded for Channing Frye and Steve Francis. The reason the Blazers were able to then pull the second part of the deal was where Fred Jones entered the equation. By adding Jones to the deal, the Blazers were able to then approach Phoenix and take a player off their hands (James Jones) and give them nothing but a cash in return. The Suns, who are trying to cut payroll, were so excited about this opportunity, they threw the 24th draft pick into the deal. That, of course, turned out to be Rudy Fernandez, who was considered by many the "steal of the draft" even though he won't play for the Blazers next season. Several execs said that if not for the buyout in his European contract, Fernandez would have most certainly been a lottery pick.
You don't see this kind of a deal very often because it really can only be executed in bigger trades, like this one. It took the creativity of Penn to discover a way to make this happen. Kevin Pritchard has publically given a lot of credit to Penn for making this deal possible. Another Western Conference executive was earlier quoted as saying, "there are maybe one or two guys in the league who could have pulled a deal like this off." It's about knowledge of the rules, and then having and owner and general manager willing to offer the support to execute the deal.
Once again, the Blazers basically gave up Fred Jones to the Knicks and didn't take anyone in return. By doing that, for one year, the team had the ability to replace Jones' salary plus $100k. They told Phoenix they'd take James Jones off their hands and the Suns wouldn't have to take anyone back. That's why I've termed it as the Blazers "created" the trade exception. I've seen it written a lot that the Blazers traded for a trade exception. That's not accurate. It is difficult to understand, however, and I had to have Penn explain it to me about 10 times to even get this much of an understanding of it. As Penn has told me, he had to do the same thing in the war room on draft night. It actually seemed too good to be true, and that's why he was asked to repeat himself about a dozen times.
This then can be actually viewed as two different trades, even though it came across as one big trade. It's basically, Zach and Dickau for Francis and Frye. Freddie for James Jones and Rudy Fernandez. When you add the second piece, and consider what's coming in the future, as far as cap room in two seasons, and the potential of Fernandez, the deal really gets attractive for Portland.
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In other news Wednesday, the Blazers cleared up a couple of loose ends by requesting waivers on Steve Francis, who agreed to a buyout from the Blazers. In turn, the Blazers were able to finalize the draft-day trade with Phoenix that brought small forward James Jones and the rights to Spanish guard Rudy Fernandez.
Pritchard said he was pleased with the Francis buyout, which is believed to be around $30 million. The Blazers negotiated a 50 percent offset in the deal, meaning the team will get 50 percent cap relief from whatever Francis earns in the next two years. It is believed Francis will sign a two-year deal with the Los Angeles Clippers, probably for around $1 million this year and around $5 million next season. That means the Blazers will save about $3 million.
Pritchard also said that Portland fans will be pleased with the Jones addition, noting that the 26-year old has the personality to be a locker room leader. I asked Pritchard if he expects Jones to be the starting small forward this season, and he hesitated, saying he wasn't sure if he was done making moves. It confirms a suspicion I've had ever since the draft was done: Pritchard still has one big move left.
Pritchard said he was pleased with the Francis buyout, which is believed to be around $30 million. The Blazers negotiated a 50 percent offset in the deal, meaning the team will get 50 percent cap relief from whatever Francis earns in the next two years. It is believed Francis will sign a two-year deal with the Los Angeles Clippers, probably for around $1 million this year and around $5 million next season. That means the Blazers will save about $3 million.
Pritchard also said that Portland fans will be pleased with the Jones addition, noting that the 26-year old has the personality to be a locker room leader. I asked Pritchard if he expects Jones to be the starting small forward this season, and he hesitated, saying he wasn't sure if he was done making moves. It confirms a suspicion I've had ever since the draft was done: Pritchard still has one big move left.