The Biggest “Fraud” in NBA History Continues to Haunt $1.67 Billion Franchise

It was the deal that brought the downfall of an NBA team. Kevin Garnett made contract history before he was even legally old enough to pop a bottle of champagne to celebrate it. It led to NBA players and owners clashing and the eventual lockout of 1998-99. Then his team went around league rules to sign a deal. The NBA found out and cracked the whip on the Minnesota Timberwolves so hard, they’re still reeling from it.

The NBA levied the biggest fine on the Wolves in the league’s history. And the consequences?

The team paid for this salary cap scam was felt for so many years. It’s rightfully called “The Biggest Punishment in NBA History.”?One YouTube channel retold this part of pro-sports history to remind us why the Wolves never bounced back.

Exploring the Timberwolves debacle

Popular basketball channel, A.M. Hoops, narrated the story that brought about “The Biggest Punishment in NBA History“?in its latest video. This incident worthy of a true-crime documentary on Netflix happened in 1999, during the NBA lockout that season.

The Minnesota Timberwolves gave 21-year-old Kevin Garnett the biggest rookie-scale contract ever at $126 million. Now NBA players could see the potential to get paid better and team owners wanted to revise the salary cap rules. That led to the lockout that season.

READ MORE: Scheming to Steal $5,000,000, Ex-Teammate of Kevin Garnett is Sentenced to 10 Years in Prison

During the lockout, the Wolves were in a bind. Tied to the massive contract they gave Garnett, they couldn’t build a strong team of players around him within the salary cap. Garnett said that many players were doing under-the-table deals with team owners during the lockout. The ones who got caught were the Wolves and Joe Smith.

The Wolves signed a one-year deal with Smith for $1.75 million, well below market value. It was suspicious enough that he turned down an $80 million extension with the Golden State Warriors for it. He’d sign two more one-year deals with the Wolves that were roughly at 2 million.

This was actually what then-NBA commissioner, David Stern, called “the most far-reaching frauds”?in the league’s history. Turning down $80 million for $1 million might seem like bad advice from a sports agent. But Joe Smith’s agent, Andy Miller, had facilitated an illegal deal.

As A.M. Hoops narrated, Andy Miller and his business partner, Eric Fleisher, parted ways. Miller took the biggest clients, Garnett and Smith with him making his former agency sue him. One of their sports agency’s investors was an undercover FBI agent. Through their informant, the FBI raided Miller’s hotel room and busted his entire operations. Miller was reportedly flouting rules by paying college athletes. In the ensuing investigation and court proceedings, his arrangement with the Wolves and Joe Smith was uncovered.

It turns out, the Wolves and Smith agreed to an under-the-table deal that if he signed three one-year contracts with them, he will get an $86 million contract. Minnesota would have bought Smith’s Larry Bird Rights this way. If a player has stayed with the team for three years, the team can go over the salary cap to retain them. This is, of course, a blatant violation of NBA rules.

Kevin Garnett suffers from Wolves’ mistake

Once the Wolves were busted, the NBA didn’t spare them. The Wolves owner, Glen Taylor was suspended. They were fined $3.5 million, the largest in NBA history. They also had to forfeit their first-round draft picks for the next five years. Because of this, the team couldn’t build a team that Garnett could play with.

Garnett was hurt at the prime of his career. He did recover later, but he didn’t forget this entire debacle. He recently called this entire debacle the “dumb sh*t“?he endured.

All three of Smith’s contracts with the team were voided, and he was out over $160 million for his mistakes. He became an unrestricted free agent and ended up with the Detroit Pistons. He would eventually return to the Wolves.

As A.M. Hoops and a lot of analysts said, the Wolves got caught because they took an enormous risk on the wrong player. Smith was good, but he was no KG. They made a series of suspicious decisions regarding an underrated player and got caught.

WATCH THIS STORY | Kevin Durant?s sensational update regarding $162,580,000,000 worth company