Mark Williams

PHX · 2025-26Second apron
Contract
$14.0M / yr · 2 yrs · $29.4M left
Albatross riskunder these assumptions

Albatross risk — −$17.5M on $29.4M still owed

Investment Memo

Mark Williams projects to 3.0 marginal wins — $10.5M of on-court value — against an apron-adjusted true cost of $28.0M.

Albatross riskunder these assumptions
AASV (surplus)−$17.5M
Production value$10.5M
True cost$28.0M
Surplus vs. cost−62%
Rank, tracked deals133rd of 178

Albatross risk — −$17.5M on $29.4M still owed

Quietly shop

At −$17.5M under water the deal drags the books; it still grades "needs-sweetener", so quietly canvassing the market beats waiting for it to worsen.

The Memo
Value thesis

For $14.0M this season (2 yr, $29.4M total), you are buying 3.0 marginal wins of EPM production — $10.5M of value at $3.5M/win. Against an apron-adjusted true cost of $28.0M, that nets −$17.5M of surplus, 133rd 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 $15.5M and surplus swings to −$9.0M — an overpay in the optimistic case.

Downside case

If a marginal win is worth less and the apron bites harder, true cost rises to $31.5M and surplus falls to −$25.0M — an albatross in the pessimistic case; the verdict flips across the band.

Risk factors
Aging / decline (proxy)Elevated$29.4M committed over 2 years with no multi-season impact trend on file. No ages in the data — this is an exposure proxy.
Commitment sizeLow$29.4M still owed across 2 years — $14.0M on this season's books.
Apron exposureSevereSecond-apron tax lifts the true cost to $28.0M (+$14.0M over cap).
Assumption sensitivity
Mark Williams — AASV under bear / base / bull assumptions−$25.0M−$9.0M
Bear−$25.0M
Base−$17.5M
Bull−$9.0M

Caution — the verdict flips somewhere across bear/base/bull assumptions. This call is assumption-sensitive, not settled.

This call changes under bear assumptions: Mark Williams grades Albatross risk in the bear case but Paying a premiumin the bull case — treat the verdict above as a live read of today’s sliders, not a settled fact.

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 ($14.0M vs $14.0M) and impact (0.2 vs 0.2); his deal grades paying a premium at −$3.5M.

−$3.5M

Similar money band ($14.0M vs $14.0M) and impact (0.2 vs 0.2); his deal grades albatross risk at −$17.5M.

−$17.5M

Similar money band ($13.9M vs $14.0M) and impact (0.2 vs 0.2); his deal grades albatross risk at −$10.3M.

−$10.3M
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 = 0.2 · 2025-26 · 70 games · 2,000 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.

(0.2 − (-2.0)) × 4,167 poss ÷ 100 = 92 net pts
92 ÷ 30.5 = 3.0 wins

Step 3 · Wins → production value

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

3.0 wins × $3.5M = $10.5M

Step 4 · What the contract truly costs
Second apron

PHX is a second apron team, so every Mark Williams dollar is charged at 2.00× — your setting for what that tier’s tax and roster restrictions really cost. Contract: 2 yrs · $29.4M remaining.

$14.0M cap hit × 2.00 = $28.0M

Step 5 · Apron-Adjusted Surplus Value

$10.5M$28.0M = −$17.5M

Mark Williams 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.