DISTURBING NEWS: Victor Wembanyama has announced his shocking departure from the San Antonio Spurs, citing five reasons.
Some players stood out for those of us who saw the San Antonio Spurs Summer League, including Riley Minix, the Morehead State University player who was named the Ohio Valley Conference Player of the Year for 2023–24. Minix had a fantastic season at Morehead, scoring 20.9 points and 9.7 rebounds per game. Last season, Minix recorded eighteen double-doubles.
He was a standout player in the Summer League, averaging 12 points per game on 44.8% shooting and 50% from three, for the Spurs, who signed him in the offseason.
What is a contract that is Exhibit 10?
Minix signed a deal as an Exhibit 10 with the Spurs. Exhibit 10 contracts, which were included in the 2017 collective bargaining agreement, are one-year agreements at the league minimum. Teams may choose to provide players who sign these contracts incentives, with a maximum value of $75,000 in 2023–2024.
The player that signs Exhibit 10 is incentivized to stay with the club, be it on the main squad or in a G league capacity. A player forfeits any agreed-upon bonuses if they opt out of their contract with the team before 60 days and sign with another team or league.
The option to convert these contracts into two-way contracts before the season begins is an added benefit for players who sign them. The Spurs have already signed three players to two-way contracts, but that doesn’t guarantee that the situation will stay that way come opening night. Teams have three spaces available on their rosters for two-way contracts
These contracts are exempt from the salary cap during the summer, when teams typically make their player decisions. However, once the season starts and a player is retained for the regular season, the contract is subject to the cap and effectively becomes a one-year minimum wage agreement. In the long run, San Antonio will gain from wise utilization of these contracts.
