SUMMARY
- Ricky Rubio, the veteran point guard for the Cleveland Cavaliers, announced his retirement from the NBA, citing mental health struggles as the primary reason.
- In his retirement statement, Rubio expressed gratitude for his 12-year NBA career that began with the Minnesota Timberwolves.
In an emotional retirement announcement, Ricky Rubio, the veteran point guard for the Cleveland Cavaliers, revealed the mental health struggles that led to his decision to retire from the NBA. On Thursday morning, news came of Rubio’s retirement, after an agreed buyout with the Cavaliers.
Rubio’s career took a turn over the summer when he decided to step away from the team to focus on his mental health. This break led to self-reflection and eventually his retirement. In his statement, Rubio shared, “July 30th was one of the toughest nights of my life. My mind went to a dark place. I kind of knew I was going on that direction, but I’ve never thought I wasn’t under control of the situation.”
Ricky Rubio is retiring from the NBA after 12 years as he works on his mental health pic.twitter.com/4Ad4BRes0V
— Bleacher Report (@BleacherReport) January 4, 2024
His 12-year NBA career started with the Minnesota Timberwolves, who drafted him fifth overall in 2009. He expressed gratitude for his time in Minnesota, Utah, Phoenix, and Cleveland, acknowledging the ups and downs and the memories made. Rubio especially thanked the Cleveland organization for their support and understanding, highlighting the respectful and caring approach they took to his situation.
In his statement, Rubio stated that he is doing better and getting better every day. He also added that he would share his experiences in the future to help others facing similar challenges.
Impact of Ricky Rubio’s contract buyout on Cavaliers salary cap
With Ricky Rubio’s contract buyout, the Cleveland Cavaliers have more financial flexibility for the future. ESPN’s Adrian Wojnarowski reported that the buyout agreement, involving the remainder of Rubio’s $18.4 million deal signed in 2022, gives the Cavaliers financial relief as well as an extra spot on the roster.
As per the terms, Ricky Rubio will receive his full $6.1 million salary for this season and $4.2 million for the next season. This adjustment in Rubio’s earnings will free up cap space for the Cavaliers, which will be important as they look to improve their roster in the upcoming offseason.
Cleveland was $752K below the luxury tax before the buyout.
Rubio had $3.5M remaining (out of $6.1M) on his contract this season and $4.25M guaranteed for 2024-25. https://t.co/j82jv4Zy5S
— Bobby Marks (@BobbyMarks42) January 4, 2024
This financial flexibility comes at a crucial time for the Cavaliers as their key players Darius Garland and Jarrett Allen, are already under long-term contracts. Apart from that, the team needs to focus on upcoming negotiations with Evan Mobley and Donovan Mitchell, both require large contracts due to their crucial roles and performances.
Mobley, the No. 3 pick in the 2021 draft, has been outstanding for the Cavs, averaging 16.0 points and 10.5 rebounds. Whereas, Mitchell, an All-Star guard nearing the end of his contract, has attracted interest from other teams, highlighting the Cavs’ need for financial flexibility.