On Eve of Bobby Bonilla Day, the Nets Finally Finished Paying Deron Williams

John Healy
June 30, 2020 - 2:51 pm
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At least one New York franchise can stop paying a former star who is years removed from the team and game.

No, the Mets are not free of the annual $1 million they pay Bobby Bonilla. If fact, that check is still scheduled to be cut on Wednesday and every July 1 until 2035.

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Instead, it is the Brooklyn Nets who have finally paid the final installment of Deron Williams’ contract on Tuesday – five years after he last played in Brooklyn.

Williams had signed a five-year, $98 million deal with the Nets in 2012 following three straight All-Star seasons but he failed to live up to his contract and the Nets waived him with two years and $43 million remaining on the deal in 2015.

The Nets used the stretch provision, agreeing to pay Williams $5.5 million over the next five years. Williams last played in the NBA in 2017 when he was a member of the Cleeland Cavaliers squad that reached the NBA Finals.

While fans love to pile on teams who pay stars well past their playing days, deferred money and stretch provisions are not uncommon.

The Knicks used the stretch provision when they waived Joakim Noah last summer and agreed to pay him $6.4 million over the next three years, which counts against their salary cap.

Other notable contracts with deferred payments include Washington Nationals pitcher Max Scherzer, who will receive $15 million each year from the franchise starting in 2022, and Manny Ramirez is still being paid by the Red Sox through 2026.

 

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