Darius Garland

CLE · 2025-26Second apron
Contract
$41.0M / yr · 3 yrs · $133M left
Albatross riskunder these assumptions

Albatross risk — −$48.5M on $133M still owed

Investment Memo

Darius Garland projects to 9.6 marginal wins — $33.5M of on-court value — against an apron-adjusted true cost of $82.0M.

Albatross riskunder these assumptions
AASV (surplus)−$48.5M
Production value$33.5M
True cost$82.0M
Surplus vs. cost−59%
Rank, tracked deals162nd of 178

Albatross risk — −$48.5M on $133M still owed

Monitor

−$48.5M sits close enough to fair (or too rigid to move) that the right play is patience, not a transaction.

The Memo
Value thesis

For $41.0M this season (3 yr, $133M total), you are buying 9.6 marginal wins of EPM production — $33.5M of value at $3.5M/win. Against an apron-adjusted true cost of $82.0M, that nets −$48.5M of surplus, 162nd of 178 tracked contracts — it grades as an albatross.

Upside case / Downside case
Upside case

If wins price up toward $4.2M/win and the apron tax eases, production value climbs to $43.8M and surplus swings to −$28.0M — an albatross in the optimistic case.

Downside case

If a marginal win is worth less and the apron bites harder, true cost rises to $92.3M and surplus falls to −$67.9M — an albatross in the pessimistic case.

Risk factors
Aging / decline (proxy)Elevated$133M committed over 3 years with no multi-season impact trend on file. No ages in the data — this is an exposure proxy.
Commitment sizeElevated$133M still owed across 3 years — $41.0M on this season's books.
Apron exposureSevereSecond-apron tax lifts the true cost to $82.0M (+$41.0M over cap).
Assumption sensitivity
Darius Garland — AASV under bear / base / bull assumptions−$67.9M−$28.0M
Bear−$67.9M
Base−$48.5M
Bull−$28.0M
What the other desks say
The Consensus

The market's own numbers: a win costs what the middle of the league pays for it.

Albatross risk
The Accountant

Every apron dollar is real money — the tax ledger, not the highlight reel, decides who wins the summer.

Albatross risk
The Ring Chaser

Banners hang forever. A marginal win today is worth almost any tomorrow, and the tax is the cost of doing business.

Paying a premium
The Rebuilder

Wins you buy before you're ready are the most expensive wins in basketball — flexibility is the only asset that never ages.

Albatross risk
The Skeptic

The tenth man is closer to the star than the star's agent admits — pay for scarcity you can prove, not reputation.

Albatross risk

1 of 5 desks disagree with the verdict above — that disagreement is the story.

Comparable contracts

Similar money band ($42.5M vs $41.0M) and impact (3.8 vs 3.6); his deal grades albatross risk at −$50.3M.

−$50.3M

Similar money band ($38.7M vs $41.0M) and impact (3.3 vs 3.6); his deal grades paying a premium at −$7.0M.

−$7.0M

Similar money band ($43.4M vs $41.0M) and impact (3.9 vs 3.6); his deal grades paying a premium at −$8.1M.

−$8.1M
The Model

How the model gets there.

The audit trail behind every figure in the memo above — six steps from raw on-court impact to the final surplus verdict, using the same sliders. Drag any assumption and the memo above updates with it.

Model Assumptions

AASV = wins × $/win − cap hit × apron multiplier. Set the knobs to your own front-office judgment — every number on this page updates live.

$3.5M
What one marginal win costs on the open market.
1.50×
How much a first-apron team's dollar really costs (tax bill, shrinking roster tools).
2.00×
The punitive tier — frozen picks, no salary aggregation, repeater tax.
Step 1 · On-court impact

League estimated net rating (per 100 poss. vs. an average player), cached from stats.nba.com (seed snapshot).

Est. Impact = 3.6 · 2025-26 · 72 games · 2,500 minutes

Step 2 · Impact → marginal wins

Impact is credited above replacement level (-2.0), scaled by the possessions he actually played (minutes × 2.08/min), then converted at 30.5 net points per win.

(3.6 − (-2.0)) × 5,208 poss ÷ 100 = 292 net pts
292 ÷ 30.5 = 9.6 wins

Step 3 · Wins → production value

Wins are priced at your $/win setting ($3.5M per win).

9.6 wins × $3.5M = $33.5M

Step 4 · What the contract truly costs
Second apron

CLE is a second apron team, so every Darius Garland dollar is charged at 2.00× — your setting for what that tier’s tax and roster restrictions really cost. Contract: 3 yrs · $133M remaining.

$41.0M cap hit × 2.00 = $82.0M

Step 5 · Apron-Adjusted Surplus Value

$33.5M$82.0M = −$48.5M

Darius Garland costs more than he produces under these assumptions — the contract eats value.

Step 6 · Season-over-season impact

First season on file — the trend view, and its tie-in to aging risk, unlocks once another season lands.