The NBA announced its All-NBA teams today and there may be no player happier with that news than Paul George.
No, George didn’t make All-NBA First Team. Heck, he didn’t even make All-NBA Second Team this year. However, by making the All-NBA Third Team this season, Paul got $7 million.
Not a bad consolation prize.
As part of the contract that George signed with the Indiana Pacers last summer, making the All-NBA team activates a bonus of nearly $7 million in that deal, according to sources.
George becomes the third player since 2011 to hit what has become known as the “Rose Provision,” which is an escalator bonus in some maximum contracts.
The “Rose Provision” allows for a player on a maximum contract to get a significant raise if they win an MVP, are selected to two All-Star games or make two All-NBA teams before the max contract kicks in. George’s max contract is set to begin this summer.
Believe it or not, George stood to earn even more for making the All-NBA team but the Pacers negotiated around that, knowing it was likely that Paul would make one of the All-NBA teams this year. Instead of agreeing to a bonus of thirty percent of the salary cap, as is typically the case under the “Rose Provision”, the Pacers and George agreed to a 27 percent bonus. In exchange, Paul George can opt out of his contract in 2018 if he wants to test the free agency waters.
Even when the season is over, Paul George find a way to score.
