Cuttino Mobley Is Close to Retiring
Because he's retiring for medical reasons, he'll still be able to collect his entire salary, although fortunately for the Knicks, an insurance company will be on the hook for roughly 75% of the balance. Considering Mobley is making $9.1 million this year and $9.8 million next, that's no small chunk of change.
Since the team is going to be saving so much money, it makes you wonder if they'll quit taking such a hardline in Stephon Marbury's buyout negotiations -- quibbling over two million seems silly when you just stumbled into an extra $14 million.
Plus, there's a good chance his retirement will have salary cap implications, as well. If the NBA agrees with the medical assesement, they could wipe Mobley's contract off the salary cap next season, or at least the prorated amount he's owed starting from a year after his last game, which was Nov. 19, 2008. The Knicks will likely still be so far over the cap it won't help them recruit any free agents, but still, every little bit helps them get closer to avoiding the luxury tax.