RC needed for prospect extension interprepation

[Colby]

I'm confused... so if someone signs their prospect to an extension, the extension kicks in following the end of his prospect eligibility, or the following year... cause if that is the case take the extension off of Ike until this is sorted out. I didn't foresee this becoming an issue when he was signed.

My take on it, if you want the full percentage then you take it that year. You want the player signed for the following year you take the following years percentage. For instance, Ike again. Signed this year it is 60%, if I want the contract to take hold next year, then it should be 50%, so on and so forth. I think this needs to be discussed further

That was Dan... my thinking is that the percentage is based on the period the contract is awarded, not started.  This is consistent with other approaches.

[Dan Wood]

Where the rub lies now, is that we voted you can sign a guy at the end of his final eligibility season and have it take hold the following year. So since that is already in effect, we might need to have all prospect extensions begin the following season, just to be consistent.

[Colby]

Where the rub lies now, is that we voted you can sign a guy at the end of his final eligibility season and have it take hold the following year. So since that is already in effect, we might need to have all prospect extensions begin the following season, just to be consistent.

This was established in the rules.

[Dan Wood]

This was established in the rules.

Which part? It doesn't go on to say that if you sign a guy during the season when it takes hold, and what the effect of the percentages will have. All we voted on, and passed, was that you can sign a guy after the season and it will take hold the following season. Also what was established was that once the season ends, you can still sign a player in his final year of eligibility to an extension. What is lacking in wording in regards to prior to that.

Now that we can sign players, and have the contract start the following season, we didn't discuss how this would effect the prospect extensions. When they were created, you could not sign a player for the following year, now you can.

If we are to be consistent with what we already voted on - #2 - then we should have prospect extension start the following season, just like any other extension. What this does is give GMs another year of control. Back to Ike, I sign him now, it starts next season in 2012, I control him now at 4 mil for the following 5 years. Or should we have to take the contract on that season? That is what I think we need to suss out.

[h4cheng]

For me, extension should be at the rate at the time the extension is announced, to take effect when the existing contract ends.

[Dan Wood]

Yes but prospect contracts run for four years, that is the existing contract. Which is both way too complicated to keep track of, as well as unrealistic to have a guy for what could be nine years for a minimal amount.

[Colby]

Dan, you aren't seeing the big picture.  Term limits apply to prospect extensions.  Therefore, taking advantage of the prospect extension in 2011 for a P-2013 contract would only add three years under the prospect extension with the value taken as of 2011.

[Dan Wood]

Dan, you aren't seeing the big picture.  Term limits apply to prospect extensions.  Therefore, taking advantage of the prospect extension in 2011 for a P-2013 contract would only add three years under the prospect extension with the value taken as of 2011.

I realize that, my question is when should they go into effect? Again back to Ike. I like talking in examples it is better to visualize. Now I signed him in 2011, he is P-2013. His 'discount' is 60% this year. My question is, given the same situation, given the new rules, would it take effect in 2012, and not 2011. Like our new rule pertaining to contract extensions. Would the new extension rule apply to prospect extensions. That is what I am trying to clarify.

[Colby]

A similar player to Ike would take effect 2014 and last through 2016.

[Dan Wood]

Now I'm completely lost. Someone please explain it to me. The prospect extension rule is as such...

"Any player who is currently under a prospect contract may be signed to a regular contract extension (see below), but they may also be signed to a prospect extension.  Such an extension must be a 5-year deal where the annual salary is X% of their market value.  The resulting annual salary must be no less than $4m."

Now what am I missing? If you sign someone to a PE - it is for 5 years. Now that we are starting extensions the following year, do prospect extensions start immediately, next season, or at the end of the contract (which I honestly don't think is a consideration)?