By this point, Xiao Qiao's contract had expired.
The Kings wanted to re-sign Xiao Qiao.
After all, with Paul gone, Xiao Qiao would be an important ball handler on the court.
With him as the hub, Wang Yi and James would both play more easily.
Xiao Qiao asked the Kings for a max contract.
Based on his years of service, a max contract would pay him $60 million.
That would put the team $10 million over the luxury tax threshold.
On top of that, they still had to pay the other role players, who would each cost around $20–30 million.
Fortunately, Danny had previously signed a three-year contract, and his deal paid him only $9 million a year—a real bargain.
Capela had also signed a three-year deal, worth $20 million.
Then there were Tucker, TT, Beverley, and others.
All told, the Kings' payroll would exceed the luxury tax threshold by around $150 million.
For every dollar they went over, they would owe another dollar.
That meant the Kings would have to pay $150 million in luxury tax.
It would be the largest luxury tax bill in NBA history.
The Kings' owner was deeply pained by the thought.
After all, $150 million in luxury tax was no small amount.
Even though he was a tech mogul, he couldn't just casually throw away $150 million.
He tried talking to Xiao Qiao, hoping to persuade him to take a pay cut voluntarily.
The team was only willing to offer him $45 million.
Xiao Qiao, of course, wouldn't accept.
So he tested the free-agent market.
About five other teams reached out to Xiao Qiao's agent.
They could offer him an annual salary of $55 million.
Most importantly, some even promised Xiao Qiao that if he joined them, he would be the core of their