Originally Posted by infantrycak
I can't remember the details but Jones has enough seniority he can be signed to a vet minimum contract plus a signing bonus (which has some limit on it) and then only counts half as much on the cap.
The exact rule is that any vested veteran signing a one year contract for the minimum base salary will count against the salary cap as if he were a player being paid the minimum for a player with two accrued seasons. A bonus of up to $65,000 may also be paid, but the entire bonus amount is applied against the cap. The allowable bonus increases a couple of times over the remaining life of the CBA.
Minimum salary for a player with 7-9 accrued years (Jones has either 8 or 9) is $840,000. Minimum salary for a third year player is $555,000. That means we could pay Jones a total of $905,000 ($840,000 + $65,000) and have him count only $620,000 against the cap ($555,000 + $65,000).