10/25/2000 - Stern punishes Joe Smith signing

Remember how everyone complained about the Bill Belichick Spygate incident, how the NFL didn't come down hard enough on the Patriots? Well I imagine that if Roger Goodell gave the same punishment that David Stern dished over the Joe Smith signing, no one would've said a word.

The NBA had just uncovered the tactics Minnesota used to sign the former #1 pick. In a nutshell, Minnesota gave Smith three consecutive one-year contracts that when combined weren't even worth $8 million. However, he would receive a $40-80 million "signing bonus" that wouldn't count against the salary cap. It's the basketball equivalent of cheating on your taxes.

David Stern, a former lawyer himself, wasn't pleased. He released Smith from his contract, fined the Timberwolves $3.5 million, and took away five first round draft picks (two were later returned). Smith played with the Pistons for a season before heading back to Minnesota in 2001. Still, the under-the-table signing was a crippling transaction for a franchise barely in the playoff spectrum. The T'Wolves never collected enough young talent and Garnett never had anyone around him.

Timberwolves Heavily Penalized for Secret Deal