Although Ricky Rubio is no longer in the NBA, the Cleveland Cavaliers are still responsible for paying him. The team owed Rubio $1.27 million despite his retirement, but they’ve found a way to alleviate the financial impact. According to Bobby Marks, the Cavaliers have spread this payment across the next three seasons.
This means they will pay less than $500,000 annually, which will help them manage their roster changes without exceeding the league’s luxury tax threshold.Ricky Rubio appeared in just 67 games over two seasons with the Cavaliers before retiring earlier this year. During his time with the team, he averaged 9.2 points, 3.1 rebounds, and 5.1 assists per game. Besides his on-court contributions, Rubio was highly valued as a mentor to emerging talents like Darius Garland. He ultimately decided to retire to focus on his mental health and spend more time with his family.
Thanks to the new payment arrangement, the Cavaliers’ current payroll is just under $160 million. This strategy will help them avoid the luxury tax, which can be costly, especially for a team with future aspirations of significant roster changes. Although the Cavaliers didn’t make many adjustments this summer, they are committed to several high-profile players, which will lead to substantial costs in the coming years. While the savings from the Rubio deal are modest, they provide valuable financial flexibility. Rubio’s contributions during his time with the Cavaliers were significant, and this final payment arrangement will offer the team some additional financial relief.
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