NBA owners want “Carmelo rule”
NBA owners are seeking a rule preventing a team from signing a player acquired in a trade to an extension in the final year of his deal, ESPN.com reported Friday.
The report calls the proposed item the “Carmelo Rule” in reference to superstar Carmelo Anthony, who was traded to the New York Knicks last season and immediately signed a contract extension.
According to the report, owners want to prevent teams from using the Larry Bird Exception – which allows teams to exceed the salary cap to retain their own impending free agents – on any player in the final year of his existing deal acquired in a trade.
In the summer of 2010, Anthony was entering the final year of his contract with the Denver Nuggets – he had an option for the 2011-12 season – and refused to sign a three-year, $65 million contract extension offered by the club.
That led to the widespread belief that Anthony wanted out of Denver. The Nuggets had to trade Anthony to avoid losing him in free agency and getting nothing in return, and they were limited in where they could send him because the team looking to acquire him had no assurance he would stay.
The report also said owners are looking for the elimination of sign-and-trade deal and the bi-annual exception worth $2 million. Owners and players are meeting Friday in New York.