As it was reported last week, the Warriors had planned to sign Iguodala to a four-year, $48 million deal. Instead the teams went back to the drawing board and restructured the deal in which would give Golden State more salary cap flexibility. This will in turn deliver Denver a $9 million trade exception also helping Utah build in the future with expiring contracts and draft picks.
The Warriors will clear more than $24 million by sending Richard Jefferson, Andris Biedrins andBrandon Rush to the Jazz along with the package of draft picks. All three players are in the last year of their contracts.
Golden State is only taking back Kevin Murphy and his non-guaranteed $788,000 deal from Utah.
Yahoo! Sports, which earlier reported the new deal, said Foye will sign a three-year contract worth $9 million. Utah will receive multiple draft picks from Golden State, including its 2014 and 2017 first-round picks.
Denver also will get a trade exception worth about $9 million that it can use anytime within the next year. And in the meantime, soften the blow left in Iguodala’s departure.
The 6-foot-4, 213-pound Foye, who will turn 30 on Sept. 24, is primarily an off-guard but can also play point guard. He averaged 10.8 points and two assists while playing all 82 games for the Jazz last season.