It counts because we do have his birds rights and we have the right to sign him to a higher contract. If we want, we can do what the clippers did with megatte and waive his rights, but that would just mean we dont want lebron back so that would never happen.
Lebron will have bird rights because he wont be traded and has played with us for 3 consecutive seasons or more. His cap hold will be 150% of his previous years salary, which will be $15,779,912. So, his cap hold will be $23,669,868. Curently the max contract for a 7 year vet is 30%. That is the first year it bumps up btw, which is why he wanted to be able to opt out after 7 years...more money (even if he stayes) The current cap is 65 million so 30% is 19.5. But lets assume the cap moves up to 70 million, that means he can start at $21 million. as you can see, $21 million on a new contract is more than the $17.1 he has on his current player option on the 4 year vet contract during the 2011 season.(starts at 20% max of salary cap)
2 things from all the numbers are important. One, this is all about money. Its why he signed essentially a 3 year deal. Its also why wade, melo, bosh and others followed...it made economic sense. More income is better for a players economy, lol. It also shows how little the media knows about contracts or motivation. Being in finance myself, I can tell you how liittle the main stream media knows about the economy, so I wouldnt expect the sports media to understand the contracts. If they did, they would be makin 3 million a year being a gm, not mid 6 figures as a talking head on espn or such.
Other thing is we are better off signing LBJ, then signing a free agent. The cap hold will be greater than his first year salary, so we would have more money under the salary cap if we sign him first. Firther, if we do get a star to come to cleveland, they would want to see Lebron committed long term I would imagine before signing. Unsigned players verbally commit but still jump ship to greener pastures. Ask Boozer or Brand for example.
I hope this clears it up some. Any more questions I will do my best to answer with the knowledge I have. Remember, I am not a NBA GM....I just play one on message boards, lol :chuckles: