The Cavs have already started the paperwork with the league office on getting Eric Snow approved for disability retirement. There are lots of hoops to jump through, but Snow says that his left knee is bone-on-bone, and that he's probably done.I'm torn on this. Snow has been a model citizen here and it's been known for awhile that he's looking to be a NBA head coach once he retires. If he has no physical tools left, it would make sense to start that process early.
If all the proper parties sign off, Snow's $7.3 million could be taken off the Cavs' books for luxury-tax purposes.
It is also possible that the NBA could grant the Cavs an exception of up to half of Snow's salary ($3.7 million) to use to sign another player or to use in a trade.
However, Snow has a $7.3 million expiring contract, which could be very useful over the coming 7 months. Snow hasn't been useful on the basketball court for 3 years and now when his contract becomes a help rather than a hindrance, the Cavs won't be able to cash in.
True, the Cavs could get some kind of exception to help with free agents, but they aren't really getting capspace, they're saving luxury tax money. Now, if they can pair that $3.7 million exception with their mid-level exception (around $5.5 mil) and throw that $9 million at a FA, then that's a whole different story.
I mean, I wish Snow all the best, but the Cavs are losing a valuable trading chip at the worst time. They still have a lot of options and a lot of expiring deals, but still.