According to several media outlets, the only thing preventing Ricky Rubio from signing with the Minnesota Timberwolves right now is a multimillion-dollar buyout from his contract in Spain. The T-Wolves are only allowed to contribute $500,000 toward the buyout clause — the rest Rubio has to pay out of his own pocket. Frank Dell’Apa reports on that issue, and more, in today’s Boston Globe:
“I think the cap makes sense,’’ Houston general manager Daryl Morey said. “It creates a natural sort of guideline when international teams are setting buyouts. So that is beneficial to the NBA and FIBA.
“Maybe there is a way to make it a sliding, graduated type of number, depending on the situation in Europe, or the number of years experience a player has, or something along those lines. Or, depending on where they are picked in the draft, they could be permitted a different buyout. But for the large majority, the cap works fine.’’
The NBA’s spending limit for players outside the league in 1999 was $350,000. Another $150,000 was added in 2003. Those figures are minuscule compared with what even the poorest of European soccer teams are willing to pay for talent. And the dollar has been devalued since they were instituted.
“The $500,000 might as well be zero, because it’s only equal to about 350,000 euros,’’ said Guy Zucker, an agent representing several NBA players. “If European clubs are offering $3.5 million and you are offering $500,000, you don’t have a very good chance.
“It’s an archaic law. If the foreign players sued, it wouldn’t stand up in court.’’
