Lost in the euphoria about the Detroit Pistons finally severing ties with longtime shooting guard Richard Hamilton is the fact that he might have, in fact, received a raise in pay after it was all said and done. While initial reports indicated that the Pistons saved a boatload of money be agreeing to a buyout with the disgruntled Hamilton, those reports seem to be off the mark.
Originally, it was thought that Hamilton was bough out for $8 million, saving the team about $11 million. Hamilton was owed the pro-rated portion of his original $12.5 million in salary, approximately $10 million, and had a $9 million buyout next season that the Pistons were likely to exercise. Now, however, it appears that the Pistons didn’t spend $8 million in the buyout, but instead saved $8 million with the buyout.
That would mean that a man owed around $19 million from the Pistons for the next two season will instead receive $11 million. All things considered, still a good deal for the Pistons. But as a Pistons fan that has seen Hamilton come off his two worst years in a Detroit uniform, I’ll be slightly miffed if early reports of his impending deal with the Chicago Bulls are accurate.
According to the Chicago Tribune and other sources, the Bulls and Hamilton are working on a deal that will pay him in the range of two years and $10 million. If true, that would give Rip a raise of about $2 million. Not bad for a guy who helped orchestrate a walkout on his coach last season. But hey, I’m not bitter or anything …