NBA Rumors: Ben Simmons set to lose money even if he gets traded
The Ben Simmons and Philadelphia 76ers stalemate regarding the former’s request to be traded is taking on another twist per NBA rumors. On October 1, the 76ers refused to release the second $8.25 million that was part of Simmons’ unique contract agreement with the Philly front office. The money was, instead, placed in an escrow account.
The Philadelphia 76ers are going to deduct from Ben Simmons’ escrowed salary the fines that the All-Star guard will incur with every practice and game missed. If Simmons stays true to his word and refuses to don the 76ers jersey again, he might never recoup the money on escrow even if he gets traded to another team.
In an episode of the Lowe Post, Bobby Marks, ESPN's NBA Front Office Insider, explained in detail why Ben Simmons is not getting that money even if he switches to another team via trade. He said:
“The league is not going to set a precedent of players not showing up for training camp. Boycotting the first part of the season to get traded and all of a sudden say, you know what, it all worked out we are going to give you your money back. The league is not going to do that. That is not happening here. Will he get some of that escrow money back? Probably, unless he is going to be out for, I mean, past Christmas or even into January 15th. I think that money gets you to January 15th. But there is going to be a reduction as far as what he is going to lose here.”
Marks also stressed that the escrow account is absolutely essential because it allows the 76ers to hold the money without committing a breach of contract.
Updated Ben Simmons FAQ with @TimBontemps.
Simmons will start to lose $360,304 (1/91.6) for every game missed, starting Monday night in Toronto.
New information included on whether Simmons can recoup the loss in game pay if he is eventually traded.
espn.com/nba/story/_/id…
If that is going to be the case, could the situation change the way it did for Aaron Rodgers before he suited up for the Green Bay Packers this season in the NFL? It seems, though, that Simmons is adamant about his position to sit out unless he gets a change of scenery.
NBA Rumors: Is there any hope of resolution in the Ben Simmons trade standoff with the Philadelphia 76ers?
If Ben Simmons is willing to lose that kind of money to spurn the team that drafted him, there is very little to convince him to eat his words and stay. The Philadelphia 76ers are also unlikely to change their mind about the possible bounty that they can get out of trading their starting point guard.
Ben Simmons is willing to sit out the whole season and forfeit his $33M salary if he’s not traded. Per @ramonashelburne https://t.co/A2DXVtDodU
There are multiple teams with varying offers to President of Basketball Operations Daryl Morey for Simmons' services. However, he is not going to give up hope that the treasure trove of returns he is longing to get would appear on the horizon.
The quirks in Ben Simmons’ contract may have given him some leeway, but the situation appears to be headed to a long-drawn conclusion unless one of the involved parties relents.