Third team a haul for Paul George
The happiest member of the just-announced All-NBA teams is likely Paul George, who had a large clause in his contract triggered by being named to the third team on Wednesday.
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.
This is due to an element in the collective bargaining agreement installed three years ago. It allows for a player on a maximum contract to get a significant raise if he wins MVP, gets voted to start in two All-Star games or is named to two All-NBA teams before the max contract kicks in. George's new contract begins this summer.
This is George's second All-NBA selection. Though he struggled in the season's second half, he benefited from receiving All-NBA votes at both guard and forward.
Bulls guard Derrick Rose was the first player to qualify for this level, having won the MVP in 2011. Blake Griffin was the second to qualify. He was an All-Star starter as well as a two-time member of the All-NBA team.
The final terms of George's deal will not be known until the NBA sets the salary cap in July. Based on a currently projected $63 million cap, George's deal will come in at about $97 million over the next five years.
But the Pacers also may be feeling good about how this is playing out because some artful negotiating saved them an additional $11 million George could have earned. Indiana also may end up with an extra $1.8 million in space below the luxury tax this summer that could be valuable as it looks to re-sign Lance Stephenson while staying out of the luxury tax next season.
Knowing that George had a good chance of making the All-NBA team again, the Pacers pre-emptively negotiated a provision that would limit the bonus. Instead of giving George 30 percent of the salary cap, as he was eligible for by making the two All-NBA teams, the Pacers and their franchise star agreed to 27 percent. This was the first time this type of deal had been agreed to. In return, the Pacers gave George an opt-out clause in 2018 so he can become a free agent sooner if he chooses.
George averaged 22.6 points, 7.6 rebounds and 3.8 assists in the postseason.
The Thunder's Kevin Durant was the lone unanimous selection to the All-NBA First Team, appearing on all 125 ballots. The Heat's LeBron James garnered 124 first-team votes. The Clippers' Chris Paul, the Rockets' James Harden and the Bulls' Joakim Noah also made the first team.