Gilbert Arenas was suspended indefinitely today, where "indefinitely" is implied to mean "for the rest of the season at least." I don't really have an opinion on that, apart from to state the obvious. Which I won't do.
But here's one thing to note; the financial repercussions of the suspension.
Disregarding the possible voiding of the contract for a moment - I'm not a lawyer and won't profess to understand all the technicalities behind this - the suspension impacts the
Wizards' current salary situation too. As things stand, the Wizards are about $8 million over the luxury tax threshold, and with no obvious means of getting under it. The players they want to dump (
Mike James,
DeShawn Stevenson) are undumpable, and they have nine players earning $3 million or more, tied with
Portland for second in the league (the
Knicks have ten). But this suspension gives them a means with which they can get nearer to getting under it.
50% of money not received by players suspended by the league is deducted from the team's cap. If a player loses an even $1 million in salary through suspension, then a team can deduct $500,000 from their salary cap number (and thus their luxury tax calculations). So by being suspended, Arenas has inadvertently aided the Wizards in their previously futile quest to dodge the luxury tax.
One thing I don't actually know is whether salary lost due to suspension is calculated based on games or days missed. It doesn't make a huge amount of difference to the general point though. So far in the season, 71 days have passed (not including today), and the Wizards have played 32 games. Therefore, regardless of whether you use 32/82nds of Gilbert's $16,192,079 salary ($6,318,860) or 71/170ths ($6,762,574), the fact remains that the suspension will cost Gilbert over $9 million if it is season long.
So if Arenas is indeed suspended for the remainder of the season, the Wizards will get about $4.5 million nearer to dodging the luxury tax. At that point, it becomes attainable.
How do the Wizards feel about this? Happy, surely. Must be. They needed to blow the team up because they built a bad one. They were losing, woefully underachieving, ill-fitting and WAY over budget. They mismanaged it badly, spending money badly and wasting basketball assets, compiling an inefficient roster of shooters and sulkers, and they were the most fail franchise in the NBA. Even moreso than the 3-31
Nets, who at least and a plan and some youth. Now, they've gotten an out clause. The Lord had mercy. Not sure why.
Sucks for the fans, though. The fans always are the victims. Sorry, people. Maybe next year.