- James Augustine averages 8.2 points, 5.0 rebounds, 1.2 steals and 1.1 blocks per game for Gran Canaria in Spain. By the way, way back in the boom boom selection days, I asked for information and/or your theories as to how Augustine managed to be re-signed and waived by the Magic in the same July, in an act so weird that I can't think of a single other time that it's happened. I've since gotten that info, and it's no less weird - Orlando tendered Augustine a qualifying offer of $972,581 in an act of fairly standard practice, and Augustine unusually accepted it almost immediately. Of note, though, is the rule with qualifying offers which states that they have to have a level of guarantee that is, at a minimum, identical to the previous season's salary. Augustine's 2007/08 salary called for a minimum salary of $687,456, but with only 25% guaranteed if he was waived on or before the 30th of July 2007. Therefore, the qualifying offer had to have a similar level of guarantee, and so the qualifying offer that Augustine accepted was 25% guaranteed until July 30th 2008. So those three weeks that Augutine spent with the Magic this season, in which he didn't play a single game, cost the tax-tight Magic a significant $243,145, and would have been more if they haven't waived him when they did. A congratulations, therefore, go to Augustine's vigilant agent, who got his client a decent paycheck without him having to actually do anything and still having the opportunity to land a pretty plush European gig as well. Similarly, condolences go to Orlando General Manager, Otis Smith, who in hindsight should never have offered the qualifying offer in the first place. Creative financing at its finest once again.
