From Johnny Ludden at Yahoo.com (we'll miss you Johnny):
With NBA commissioner David Stern set to present Tim Duncan his fourth championship ring on Tuesday, the San Antonio Spurs forward has made it clear he has no plans to leave the court – or San Antonio – anytime soon.
Duncan has reached agreement with the Spurs on a two-year, $40 million extension that figures to give the team enough salary-cap flexibility to continue to surround him with a competitive support cast in the waning seasons of his career, two sources with knowledge of the deal said Monday.
By signing the extension, which is expected to be finalized within the next few days, Duncan forfeits his option to become a free agent after this season. He will be under contract with the Spurs until the summer of 2012.
The article goes on to elaborate on the cap figures, and it's worth checking out. Timmy took $40 million over two years (no paltry sum), but he could have had $51 million under cap rules.
Got that? He gave up $11 million. So the Spurs could spend it elsewhere.
It's not unprecedented...Kevin Garnett just did the same thing in Boston. But it is another example of Duncan's priorities. The extension will kick in during the 2009-2010 season, when Duncan and Parker will be the only Spurs under contract. This gives the organization a few more dollars and cents to throw at free agents to surrounding the stars during Duncan's waning years.
Honestly, this news is better than Beno being traded.
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