Entering the 2012 off-season, everyone knew that the Memphis Grizzlies were going to be over the salary cap, and even right up against the luxury tax threshold.
After using their first-round pick on Tony Wroten Jr., signing Marreese Speights and Darrell Arthur to extensions and signing Jerryd Bayless as a free agent, it seems as if the Grizzlies may be done with their off-season moves.
So what does their cap situation look like? I thought you’d never ask!
Zach Randolph: $16,500,000
Marc Gasol: $13,891,359
Rudy Gay: $16,460,538
Mike Conley Jr.: $7,305,786
Tony Allen: $3,300,000
Marreese Speights: $4,500,000*
Darrell Arthur: $3,000,000*
Dante Cunningham: $2,090,000
Quincy Pondexter: $1,234,320
Jeremy Pargo: $1,000,000
Josh Selby: $762,195
Tony Wroten Jr.: $1,160,000**
Jerryd Bayless: $3,100,000*
*= Yet to be officially signed, but is the agreed-upon figure.
**= Based upon 2011’s #25 overall pick’s (MarShon Brooks) cap figure for his rookie season.
That brings the Grizzlies total salary to $74,315,003 for the 2012-2013 season. That figure is almost $4,000,000 over the luxury tax line of $70,307,000, but the Grizzlies will have until the trade deadline to get under the threshold. I will say that it is entirely possible that the figure is off by a few dollars here or there, but that figure will be in the right neighborhood.
The likeliest scenario would involve the Grizzlies moving Pargo and either Pondexter or Cunningham before the tax is figured. Cunningham seems redundant with Arthur back and under contract.
The interesting thing about the Speights and Arthur deals is before they signed them, their cap holds were actually greater than what they ended up signing for. Before the actual extensions, Speights had a cap figure of almost $7 million and Arthur’s was over $5 million, so in a roundabout way, the Grizzlies saved money by signing those two to those deals.
Further, the Grizzlies now have 13 players under contract and said after agreeing to terms with Jerryd Bayless that they won’t look to add any more players between now and the start of the season, barring Dwight Howard adding Memphis to his list or something.