The latest on the talks: Nelson is telling friends that he's upset with the Warriors' most recent proposal and that the next week or so could be the tipping point.
Is he serious enough to stay away from training camp in October? Many people familiar with Nelson note that he would be walking away from millions if he quit, and Nelson has no history of monetary sacrifice.
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Multiple sources confirmed Tuesday that Warriors management has offered to raise Nelson's base salary from $3.1 million to $5.1 million for the coming season. That's agreeable to the Nelson camp.
Nelson was paid $3.1 million in base money last season and earned an additional $2 million in bonuses for making the playoffs and winning a round; he had the same schedule for 2007-2008.
But the Warriors' offer is also believed to change the guaranteed $3.1 million for 2008-2009 (the final year under his original deal) into a non-guaranteed team option for $5.1 million. That's potentially a deal-breaker for Nelson, who has little desire to work without the assurance of a contract for 2008-09, and might announce a retirement or request a leave of absence if he doesn't receive a deal to his liking.
In plain terms, the Warriors are offering Nelson more cash in the short term, but less guaranteed money than he was due to receive.
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Cohan needs Nelson, whom he fired once before, because Nelson's coaching was essential for a franchise that had lingered in squalor for 12 playoff-free seasons before Chris Mullin persuaded Cohan to bring back Nelson.
Nelson needs Cohan because he loves the Bay Area, loves coaching this team, and because the Warriors' raucous playoff run last spring burnished his Hall of Fame credentials; Nelson needs Cohan because nobody else was stepping up to hire him a year ago.