QUOTE(kOkOnUt * @ May 7 2007, 08:41 PM)

u can put carl malone in that equation too. soooo sad

Players are allowed to take paycuts, as long as it doesn't appear suspicious and verbally agreed before hand. Malone was very old and by standards, a paycut for one year was acceptable.
QUOTE
It was also during (Kevin) McHale's reign that the Timberwolves were punished by the NBA for making a secret deal with free agent forward Joe Smith to avoid the league's salary cap rules. Before the 1998-1999 season, Smith agreed to sign three one-year contracts with the Timberwolves for less than his market value. In return, Smith received a promise that the Timberwolves would give him a multi-year, multi-million dollar contract before the 2001-2002 season season.
In 2000, after word of the secret agreement got out, NBA commissioner David Stern voided Smith's final one-year contract with the Timberwolves, making Smith a free agent. Stern also took away the Timberwolves' next three first round draft picks and fined the team $3.5 million. Smith signed with Detroit for one season, but came back to Minnesota before the 2001-2002 season as a free agent.
This is what the Wolves tried to pull off, very different from the Lakers just signing Malone who wanted to win a ring for a low salary.