The Thunder just signed Nick Collison to a contract extension worth $11 million and a signing bonus of $6.5 million. They frontloaded the contract giving Collison a signing bonus equivalent to about the amount they are currently under the salary cap. By paying Collison more now via a signing bonus, they can keep their future salary cap figures in check and pay him much less in years 2011-2015. This will free up some cap space when the Thunder get ready to offer extensions to Kevin Durant and Russell Westbrook. From ESPN.com’s Marc Stein, here is a year-by-year breakdown of the contract:
2010-11: $13,270,000 (Upped from $6.75 million with a signing bonus of slightly more than $6.5 million)
2011-12: $3,272,997 (First year of extension)
2012-13: $2,929,332
2013-14: $2,585,668
2014-15: $2,242,003
Amazingly, Collison is pulling down about $13.3 million this year. On the Thunder’s financial statements, this should be categorized as a charitable contribution and not as a salary expense. I ...
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