Can existing contracts be renegotiated?
A contract for four or more seasons can be renegotiated after the third anniversary of its signing, extension, or renegotiation that increased any season’s salary by more than 8%. Contracts for fewer than four seasons cannot be renegotiated. A contract cannot be renegotiated between March 1 and June 30 of any year. Only teams under the cap can renegotiate a contract, and the salary in the then-current season can be increased only to the extent that the team has room under the cap. Raises in subsequent years are limited to 10.5% of the salary in the first renegotiated season. The renegotiation may not contain a signing bonus. Contracts cannot be renegotiated downward (players can’t take a “pay cut” in order to create salary cap room for the team) or to contain fewer seasons. Again, a team over the salary cap cannot renegotiate a contract. An interesting case of this was Shawn Kemp with the Sonics. Kemp, who was unhappy with his contract and wanted to renegotiate, could not get a larger
A contract for four or more seasons can be renegotiated when at least three years have passed since the signing of the contract. Contracts for fewer than four seasons cannot be renegotiated. A contract cannot be renegotiated until after the third anniversary of the signing of the contract, any later renegotiations, or any later extensions. A contract cannot be renegotiated between March 1 and June 30 of any year. The salary in the first year of the renegotiation is limited to 112.5% of the salary in the last year of the existing contract, with maximum 12.5% raises each year after that. The renegotiation may not contain a signing bonus. Contracts cannot be renegotiated downward (players can’t take a “pay cut” in order to create salary cap room for the team). Contracts cannot be renegotiated to contain fewer seasons. Salaries can be renegotiated only to the extent that the team has room under the cap. A team over the salary cap cannot renegotiate a contract. An interesting case of this w
