The Cleveland Cavaliers made an investment in their future at the NBA’s trade deadline, acquiring three players who are signed through at least next year (Jordan Clarkson, George Hill, Larry Nance Jr.) and a fourth who is a restricted free agent this summer (Rodney Hood). Whether it makes the team a more viable threat to win a title this season remains to be seen, but one thing is for sure: Cleveland is spending a whole lot of money on this group.
In fact, it’s possible the team is going to spend a record-setting amount of money on this group. ESPN’s Brian Windhorst published a story on Thursday about the potential financial situation the Cavs face if LeBron James opts into the final year of his contract, and to put it lightly, Dan Gilbert is spending a whole lot of money.
Should James opt in (he’d make $35.6 million next season if that happens) and Hood re-sign with the team for $12 million (his projected salary for next year), things get ugly in a hurry.
It is hard to predict the market for restricted free agents. This summer is especially challenging because teams are expected to tighten spending. If James stays and Hood remains with Cleveland and lands a long-term deal that starts at $12 million or more, the Cavs would likely crest $300 million in total spending based on the contracts they have on their books. That would include roughly $150 million in luxury tax alone.
Ultimately, these projections — which include three minimum free agents and $4.4 million going to the team’s first-round draft pick — come out to a staggering $158.9 million in salaries. Along with the $149.2 million luxury tax bill that would pop up, Gilbert would be forking over $308.1 million in total.
As long as Gilbert is willing to invest that much cash into the team, it’s not a massive deal. But still, this is just a staggering amount of money for the Cavaliers to have on the books.
