Jason Kidd has decided to end his playing career and has retired, the Knicks officially announced today (Twitter link). The veteran point guard still had two seasons and $6.18MM remaining on his three-year contract with New York.
"[Agent] Jeff [Schwartz] and I and my family had been talking this past weekend," Kidd told Ohm Youngmisuk of ESPNNewYork.com. "We talked a lot and we felt it was the right time to move on and so we notified the Knicks. They were kind of taken aback. We told them [earlier] that I wanted to come back and play. But this weekend was when we got a chance to relax [and really think about it]. It is the right thing to do."
As recently as last Thursday, we heard that Kidd remained undecided about his future, though it sounded as if he was leaning toward returning next season with the Knicks. While the 40-year-old played a key role for the Knicks during the regular season, he struggled mightily during the playoffs, making just three baskets overall and going for 0-for-17 from the field with no points in the team's final 10 games.
For his career, the future Hall-of-Famer averaged 12.6 PPG, 8.7 APG, and 6.3 RPG in nearly 1400 total contests. He was named to 10 All-Star teams, won a championship in 2011 with the Mavericks, and also earned co-Rookie of the Year honors back in 1995 with Grant Hill, who also retired this week. As Ian Begley of ESPNNewYork.com notes (via Twitter), Kidd currently ranks second overall among the NBA's all-time assists and steals leaders, and ranks third in career triple doubles.
Kidd's retirement could slightly reduce the Knicks' luxury-tax bill, depending on whether or not his full annual salaries of $3.09MM remain on the team's books for each of the next two seasons. However, the club will now have a hole to fill at the point — with Pablo Prigioni facing free agency, Raymond Felton will be the only point guard still on the roster.
What would the salary cap ramifications of his retirement be for the Knicks? Would it essentially mean a $3M trade exception they could use, or does his contract just come off the books?
There are a variety of scenarios for what happens when a player retires. Depending on what Kidd and the team work out, the amount of his salary remaining on the Knicks’ books could end up being anywhere between $0 annually and $3.09MM annually. But whatever happens with it, it won’t create any additional flexibility for the Knicks — with or without Kidd’s salary, they’re still projected to be over the tax line, so they wouldn’t gain any exceptions.
— Luke
Assuming he will accept $0, Would they be able to trade his contract to a team for a player (say the Rockets and Thomas Robinson) before letting that team buy out his contract?
A scenario in which he’s traded for Robinson, THEN officially files his retirement papers, voiding his contract, and taking him off Houston’s books, is possible in theory, but pretty unlikely in reality. Not sure he’d give up his last $6MM+ of NBA salary just to help the Knicks out a bit.
I would guess that he and the Knicks will agree to a buyout that pays him something less than the full amount of his deal. The Knicks could also use the stretch provision to stretch the hit over a few years rather than just the next two.
— Luke
I was under the impression that if a player retires while he still has years left on his contract, then he foregoes his entire salary anyway. Is that incorrect?
That’s what happens if a player officially files for retirement, but that’s often not the case. Larry Coon addresses this exact question a little over halfway down the page in this chat:
link to hoopsworld.com…
“If a player retires with guaranteed salary left on his contract, he still gets paid — but if he’s paid, he’s expected to report. The team & player usually work this out by agreeing to a buy-out — he’s paid less money, and doesn’t have to report.”
HOF career!!!! Now I hope he is the new coach for the Brooklyn Nets!!!