Clippers Save $110M in Luxury Tax After Declining to Guarantee Eric Gordon’s Contract, per Report
Veteran sharpshooter Eric Gordon is set to hit unrestricted free agency this offseason after the Clippers declined to guarantee his $21 million contract for the 2023-24 season, per ESPN’s Adrian Wojnarowski.
The decision to let Gordon walk will reportedly have some significant financial benefits for the team, too. According to ESPN’s Bobby Marks, the team figures to save $110 million on its luxury tax bill.
Heading into free agency, the Clippers had the highest estimated luxury tax bill in the league, by a wide margin. The team was anticipated to owe as much as $169 million in luxury tax, a figure which will now drop to around $59 million, according to Marks.
Marks indicated that after parting ways with Gordon, the team remains $18 million above the league’s luxury tax threshold of $165 million.
Gordon rejoined the Clippers last year in a midseason trade that saw John Wall dealt to the Rockets. In his 22 games in L.A. last season, the 34-year-old averaged 11 points per game on 42.3% shooting from three-point range.
Gordon had one season left on the four-year, $75.5 million contract he signed with Houston. The deal included three years and $54.65 million in guaranteed money, leaving the door open for the Clippers to walk away ahead of the 2023-24 season, which they reportedly opted to do on Wednesday.
He’ll hit free agency in hopes of latching on with another team ahead of what will be his 16th NBA season.
