Guaranteed contracts 2013-2014:
- James Harden: $13,668,750
- Jeremy Lin: $ 8,374,646
- Omer Asik: $ 8,374,646
- Thomas Robinson: $ 3,526,440
- Royce White: $ 1,719,480
- Terrence Jones: $ 1,551,840
- Donatas Motiejunas: $ 1,422,720
- Chandler Parsons: $ 600,000 (partial guarantee)
- Tyler Honeycutt: $ 100,000
Total guaranteed: $ 39,338,522
These contracts are guaranteed by the Rockets for the 2013-14 season and will count against their expected team salary cap (see below) unless the player is traded. Tyler Honeycutt is no longer with the team, so his $100,000 can’t come off the books.
Contract with a team option 2013-2014:
- Francisco Garcia: $ 6,400,000
A contract with a team option means that the Rockets have the choice to either bring Garcia back next season at $6,400,000 or decline the team option and allow Garcia to become an unrestricted free agent. An unrestricted free agent can negotiate with any team he chooses for whatever salary they can agree on. In this situation, the Rockets will exercise their team option and decline this contract. I expect the Rockets to attempt to sign Garcia to a lower salaried contract after they have finished with their other more important free agent pursuits, assuming they still have cap space to sign him.
Non-guaranteed or partial guaranteed contract 2013-2014:
- Carlos Delfino: $ 3,000,000
- Aaron Brooks: $ 2,508,000
- Chandler Parsons: $ 926,500 ($ 600,000 guaranteed)
- James Anderson: $ 916,099
- Greg Smith: $ 884,293
- Patrick Beverley: $ 788,872
- Tim Ohlbrecht: $ 788,872
Total non-guaranteed: $ 9,212,636
Non-guaranteed contracts are contracts that give the Rockets two choices: they can either guarantee the contract by a specific date (varies depending on the contract) or they can release the player. If they choose to guarantee the contract, their non-guaranteed salary becomes guaranteed and adds to the team’s total salary for 2013-14, giving them less cap space to sign available free agents. If the player is released, he is placed on waivers for 24 hours (during the season) or 10 days (after the season) where other teams have a chance to claim him at his listed contract. If no teams claim the player off waivers, he becomes a free agent.
The Rockets will guarantee Chandler Parsons and Patrick Beverley. This adds $ 1,115,372 in salary to the $ 39,338,522 already guaranteed, bringing the Rockets to $ 40,453,894 in guaranteed contracts for the 2013-14 season.
The Rockets will also have access to their mid-level exception, which allows them to sign contracts up to $ 3,183,000 if they are four million or more above the tax line (including this mid-level exception contract) or $ 5,150,000 if they are less than four million above the tax line (including this mid-level exception contract). These exceptions can be broken up into multiple contracts or used for a single player.
NBA team salary cap for 2013-2014 season:
The NBA salary cap for each team won’t be set until July, but expect it to be around $60,000,000. If the Rockets only keep Chandler Parsons and Patrick Beverley among the non-guaranteed contracts, they will have $40,453,894 in guaranteed salary, which should give them around $19,500,000 in cap space to sign free agents. In order to increase their available cap space, a trade would have to be involved. They could move a higher salaried player like Jeremy Lin ($ 8,374,646) for lower salaried player(s) and/or draft picks to give them additional cap space for free agents.