"They gave Millsap a $5.6 million signing bonus and agreed to pay him $4.7 million of his first-year, $6.3 million salary the day the contract becomes effective.
So a week from now, Millsap would receive $10.3 million. Add to that the $1.6 million that will be spread throughout next season and Millsap, who was paid just $797,581 last season, will be paid $11.9 million this year. The remaining $20.1 million will be spread over the final three years of the deal."
With that in mind, the Jazz are now going to be forced to pay Millsap the exact amount of money that the Blazers are planning on giving the young star, plummeting Utah even more into the luxury tax.
Rumors have circulated throughout the league about Carlos Boozer wanting to be dealt out of Utah, but nothing has heated up to an agreement as of yet.
The Jazz have a few options that they can flirt with before the July 17th, one week deadline.
1. Trade Boozer
The Utah Jazz organization are intensely searching for a trade partner to get rid of Carlos Boozer as we speak. Since not many teams have a large amount of salary cap space this offseason, it seems more and more likely that a deal might not be made by Friday (unless a three-way deal is pulled out at the last minute)
Dealing away Boozer would give the Jazz an opportunity to re-sign Millsap without painfully going severely over the luxury tax.
2. Get a Loan
According to the Salt Lake Tribune, the Utah Jazz could be receiving a short-term bank loan to pay for the immediate payments owed to Millsap with his new hefty contract.
The loan would enable the Jazz to re-sign Millsap, which is certainly their top priority during this nerve-racking week.
What will the Jazz do?
You can expect either a big deal involving Boozer to be made within the next few days or a painful re-signing of Paul Millsap by the Jazz, with or without the bank loan.