Justise Winslow could miss out on extension due to ‘poison pill’ provision in potential Jimmy Butler trade
Miami Heat forward Justise Winslow says he is “getting close” to a contract extension before Monday’s deadline kicks in, but a Jimmy Butler deal could put that progress to waste, according to Ira Winderman of the South Florida Sun-Sentinel.
Oct. 15 is the date players selected in the first round of the 2015 NBA Draft can finalize agreements with their respective teams. Winslow would otherwise would become a restricted free agent by July 1.
Under NBA rules, first-rounders who receive extensions prior to their fourth NBA season can become subject to what is termed a “poison pill” provision.
Under that provision, if a player is traded between the date in which the extension was signed and the date the extension begins (which would be July 1, 2019 for Winslow), the player’s outgoing salary-cap hit to the acquiring team would be at the average of his current salary plus the extension total, while the team trading the player away would only use his current-season salary to calculate the current cap hit.
This provision would inflate Winslow’s value for a season if the Heat were to trade him to the Minnesota Timberwolves as part of a return package for Butler, who has grown upset and doubled down on his desire to leave the Twin Cities in a meeting with president/head coach Tom Thibodeau on Monday.
“There’s been talks. We’re getting close,” said Winslow, hopeful to iron out the details in his new contract. “I think it should get done.”
Only two players from the 2015 NBA Draft have signed extensions, both for the max and both from the University of Kentucky, as Devin Booker inked a five-year, $158 million extension to remain the talisman of the Phoenix Suns, while Karl-Anthony Towns cashed in at five years for $190 million as the top overall pick of the draft.