Warriors trade Tyler, Jenkins to get under tax
OAKLAND, Calif. (AP) — Golden State Warriors general manager Bob Myers saved some money and created future financial flexibility for the franchise at the NBA's trading deadline.
Parting ways with two young players came at another cost.
The Warriors traded forward Jeremy Tyler to Atlanta and guard Charles Jenkins to Philadelphia along with cash considerations in separate salary-shedding deals Thursday to get under the league's luxury tax. Golden State received a protected second-round pick from Philadelphia and future draft considerations from Atlanta.
In separate sit-downs in his office, Myers called the process of informing each player "emotional."
"It's hard. I think it was hard for them. It's hard for us," Myers said. "You're talking about dealing with people. Anytime you deal with people, you're not trading a building or a widget. These are real people that you get to know. It's hard. Just a hard thing to do."
Myers said he had no mandate from owners Joe Lacob and Peter Guber to get under the luxury tax. Instead, the moves were made in part so the Warriors could become a tax-paying team as soon as next season without added costs.
By shedding both second-year players just before the deadline, Golden State sliced more than $1.5 million off its salary cap. The Warriors began the day about $1.2 million over the league's $70,307,000 luxury tax.
Teams above that amount after the deadline will pay a dollar-for-dollar tax. Starting next season, the luxury tax will move to an incremental system. There will also be a penalty for "repeat offenders," which the NBA has defined as a team in the luxury tax for four of the five previous seasons.
"We felt like with the risk of being in the tax next year possibly and doing what's right to win, we didn't want that clock ticking now on becoming a tax-paying team," Myers said.
Myers added that the team has about $294,000 remaining to sign a player off waivers, which he expects to do in the next week. The trades also give the Warriors more flexibility in salaries they can take back in future deals.
In other words, Myers cut Golden State's losses now in the slimmest way he could.
The Warriors drafted Tyler and Jenkins in the second round in 2011. They're earning about $762,195 each this season, the second year of their rookie deals.
And while each has played sparingly of late, the team had high hopes for both.
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