Two days after drafting Garza, the pistons waive Cook. Looks like Garza took his job.
Tyler Cook waived
- Thread starter Case I H
- Start date
BirdistheWord
HR Heisman
Bummer! He misses that $1.7 million guaranteed, if he was on the roster August 11th... Now they sign him to a new contract August 12th, I suppose?
So yeah, ruthless business.
So yeah, ruthless business.
He has 2 years of service, so I believe the minimum they could sign him for is 1.669 million.
I assume he has at least $100,000 in the bank. Nice down payment on an apartment complex.
From another thread:
Tyler's Career NBA Earnings to date:
2019-2020.................$151,504
2020-2021.................$703,043
TOTAL.....................$854, 547
The optics of this transaction stink to Iowa fans. I thought Cook was playing pretty well for a team that was one of the worst in the league last year.
TC had a nice close to his season, but realistically he hadn't locked up a roster spot. Neither is a late 2nd round draft pick like Luka guaranteed to make the regular roster either.
Maybe one, or both, will end up with a regular spot or a 2-way contract. Summer league and camp play still left to determine how things end up for both of them.
Maybe one, or both, will end up with a regular spot or a 2-way contract. Summer league and camp play still left to determine how things end up for both of them.
Correct. It is ruthless. Cook has achieved a lot just by playing in NBA games. He showed enough that some team (either the Pistons or someone else) will at least give him an opportunity to make a team.
Garza will need to play well in camp and pre-season games. If he does, he could carve a niche. If he doesn't, he won't. Simple as that.
Think about the natures of the people involved in pro sports, ultra competitive and in many cases very ruthless.
The owners have succeeded in high finance where the most predatory and competitive people play very dangerous games for extremely high. The players have to be ultra competitive and fairly driven to just do what is necessary to get a playing spot on a major league team.
Talk about a Hobbesian environment.
The owners have succeeded in high finance where the most predatory and competitive people play very dangerous games for extremely high. The players have to be ultra competitive and fairly driven to just do what is necessary to get a playing spot on a major league team.
Talk about a Hobbesian environment.
Tell that to all the vets willing to accept a minimum contract to chase a championship in teams with multiple max contract players. It makes your cutthroat scenario, but falls short on the equal resources.
Remember. This is pre-tax and the guy bought a Tesla and his mom a car. It's really not that much money.
Ok , it’s not but I’m retired and I don’t have that much in the bank
True. "Not that much money" compared to NBA money though. In general, not a bad chunk of change.
Most people don't, unfortunately 🥺
No, but a pretty good start for a young man with no student debt.
This is sad. I guess it depends on where you are at in retirement, but running out of money is a scary prospect.
What I was trying to say, was that kind of money at his age is doing really more than ok.
By the way while I don’t have that much, (roughly 850,000.00 per the estimated income) in the bank however I’ll be fine having 3 pensions, one very good one by my standards and 2 smaller ones. No need to start a go fund me page for me or Mr. Cook.
By the way while I don’t have that much, (roughly 850,000.00 per the estimated income) in the bank however I’ll be fine having 3 pensions, one very good one by my standards and 2 smaller ones. No need to start a go fund me page for me or Mr. Cook.
I hear the average income on HROT is north of seven figures, so that’s where I’ll be headed if things go drastically south and I need to beg for cash
I believe NBA players get a pension after 3 years of service. He really needs to play one game this upcoming year.
Oh, I didn't mean to imply equal bargaining power. The billionaire can always outlast the multi-millionaire. If the player had taken advantage of the many investment opportunities that flow their way they shouldn't be chasing the league minimum and should have more pride than that permits being just another palooka trying to get just a little more out of a dead career. Its a sad story but it is as old as civilization.
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Yep...and if he still represented by Chris Emens that is good as well, he has a reputation for making guys take care of their $$$ and utilizing the league's 401K and things like that.
Its gotta be tough to be fiscally conservative in the world of the NBA when all your peers are swimming in money. Plus I suspect he had dreams from when he was young to do something nice for his parents, so can't fault him for that. As for the Tesla, its not the route I would have gone but again, tough to blame him. I seem to recall Dev purchasing a high end Audi after he had signed a contract, the temptation has got to be real. I forget the football player, maybe it was Yanda, possibly Scherff, that drove the same old pickup truck he had for several years after being in the pros. Something to be said about holding off on materialistic items and saving that money for retirement or at least holding off on those types of big purchases until the 2nd or big contract is signed.
Wish Cook the best as he tries to land with another team. By all accounts, he seems like a solid guy with a good head on his shoulders.
TC always struck me as relatively sharp kid. Very alert facial expressions, etc.... Those weren't crazy purchases, like the dudes that buy the $100K necklace, etc...
Bob Hansen ate in his room to pocket the per diem. Now he's absolutely rich.
Bob Hansen ate in his room to pocket the per diem. Now he's absolutely rich.
This is a great movie about why so many pro athletes end up filing bankruptcy: http://www.espn.com/30for30/film/_/page/broke
Long story, short: they have to pay taxes, pay their agent fees, pay for fancy clothes, expensive dinners with teammates, buy their families stuff, and deal with a variety of con men who prey on them.
Plus, many assume that they are going to be in the league for years when the reality is most players don't last more than a few seasons.
So that $850K was probably $500K at most after all of his expenses. And he bought a $100K car so now he's down to $400K.
Invest that at 7% a year and you have $28K. Better than nothing but not rich beyond your wildest dreams.
Long story, short: they have to pay taxes, pay their agent fees, pay for fancy clothes, expensive dinners with teammates, buy their families stuff, and deal with a variety of con men who prey on them.
Plus, many assume that they are going to be in the league for years when the reality is most players don't last more than a few seasons.
So that $850K was probably $500K at most after all of his expenses. And he bought a $100K car so now he's down to $400K.
Invest that at 7% a year and you have $28K. Better than nothing but not rich beyond your wildest dreams.
He would have to have 3 years of service -- so if he gets in one game this season, he would qualify for something. Like SS and most other pension plans, the longer one waits to draw from it, the more it is. At 62 he would get a full pension. A big plus is health care for life if he becomes vested with 3 years of service. The game can be very hard on bodies and without health care, bank accounts are easily drained. Here is a good article on How NBA Pensions work:
https://hoopshype.com/2020/03/02/how-nba-pensions-work/
I thought this might happen. Pistons are still potentially interested...
Just came here to post this. Good deal for Tyler to be seen by other teams as well as compete for a contract with the Pistons.
Looks like a lot going on in Detroit. They waived Corey Joseph and then brought him back at less dough.
Who knows? Maybe TC comes back? Let's see what goes in the SL.
Who knows? Maybe TC comes back? Let's see what goes in the SL.
Do you know that he bought the car? May have done a 2 or 3 year lease, which would not be extravagant.
Good job Tyler...he's looking a lot smarter than the poster's questioning his early exit. Weezy also smart financially to leave early if he can stick for a few minutes of PT at NBA level. Not so good for fans of college sports.
That's a LOT of players. I assume they will feature the ones they plan on keeping, but if they try to give them all a piece of floor time, they will hardly work up a sweat. Once again, I don't follow the NBA, so I don't know how they handle the Summer League games.
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