Why Were the Brooklyn Nets Paying $15K Per Day to a Former Player Who Last Played for Them Five Years Ago?

By 1 month ago

Deron Williams was once in the NBA, but he has been a free agent for more than three years now. He last played for the Cleveland Cavaliers, but the Brooklyn Nets just finished settling his contract amount that was initially signed in 2012.

Williams entered the league in 2005 and stuck with the Utah Jazz for six years before moving to the New Jersey/Brooklyn Nets. The point guard had a good run with the Jazz, justifying his hype for being the 3rd overall pick in the 2005 NBA Draft.

Looking at the decent performances of Williams with the Jazz, the Nets traded him and offered a five-year $98 million contract in 2012. Reflecting on his talents in the Jazz team, the Nets thought Williams would be a great addition to their roster. But it all came sliding down as he could not perform at the same level.

Williams failed to replicate his All-Star form with the Brooklyn Nets, causing them to waive him after the 2015 season. With just three years of his contract fulfilled, they had to pay him an outstanding amount of $43 million as per the agreement.

Brooklyn Nets just finished paying Deron Williams his remaining contract amount

When the Nets waived Williams in 2015, it was not hard for him to find another team. He immediately signed with the Dallas Mavericks, but the Nets still owed him money. Thus, to avoid any salary cap complications and not overburden their finances, they came up with an agreement.

The Nets used the stretch provision to pay Willaims $5.5 million each year till 2020. The deal saw him receive $27.5 million out of the $43 million that was the original outstanding due. Both parties agreed to this settlement which benefitted them either way. This stretched contract payout of Williams helped in curbing the salary cap issues for the Nets.

As per Anthony Puccio of the NetsDaily, the Brooklyn Nets just finished settling all of Williams’ dues today. Despite, not playing for the Nets since 2015, D-Will has been earning $15K from the team on a daily basis.

For a man whose career quickly came to an end, this is certainly a delightful payroll that he received over five years. Even though the Nets waived him, he earned another million dollar contract for his two-year stint with the Mavericks. Williams then jumped to Cleveland Cavaliers in 2017 and was a part of the team that reached the NBA finals.

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