Summary:
In the ESPN article linked below written by ESPN.com senior NBA writer Marc Stein and the associated press it says that the average NBA player is losing $220,000 for each pay check that is missed during the lockout. Today is the 140th day without a labor agreement between the players and owners and Tuesday was the day that the first paycheck for players. Normally most players receive 1/12th of their pay on November 15th under the previous collective bargaining agreement. Now that the players have voted to file "disclaimer of interest" which will in effect disband the union. They are planning to file an anti-trust lawsuit and then seek a summary judgement which would claim that the owners shutdown and lockout was illegal.
NBA commissioner David Stern did an interview live on ESPN about an hour after the news of the players decision broke and made several inflammitory but expected comments such as stating repeatedly that the players were just using this as a negotiating tactic, saying that the unions outside counsel Jeffrey Kessler "got his way, and were about to go into the nuclear winter of the NBA"
My Take:
As i'm sure most of you know that have dealt with any part of our legal/court system it's quite the drawn out process. Just the simple task of setting a date to begin can sometimes be time consuming because of the large number of attorney's on each side having to coordinate schedules along with the other trials and cases on the docket already. I'm not sure who it benefits most if this drags out beyond the entire season but I would think it would be the owners due to their very very deep pockets and immense reserve funds they often have available. Remember, most of these owners are billionaires and there are a very select few players that will ever come within eyesight of that figure, probably only 1 or 2 in the NBA today and that's Kobe Bryant and Lebron James largely because of endorsement deals.
Now let's talk about that $220,000 figure that was mentioned. The fact of the matter is although NBA players all make very good money, over half of them are making less then that probably. The number get's skewed because of the salaries of say Shaquille O'Neal gets factored in at 22 million or Kevin Garnett at 20 million or Kobe at 19 million ect ect. These are not figures coming up for this year but i'm just speaking in generalities. If you have a player that's going into his 3rd year and he's a 10th-11th man, that 180k after taxes is down to 120k. Let's just hope some of these young men were smart with their money, didn't buy multiple cars, houses, extend his hand to long lost cousins, aunts and uncles so he can make it through this....because I'm not worried about Kobe putting food on his sons plate, but as much as it pains me to say, I almost felt bad for the guy making close to 200k.
Sad isn't it?
http://espn.go.com/nba/story/_/id/7238632/nba-lockout-average-player-loses-220000-paychecks-arrive
+Joshua Hastings
@joshuadavid1121
www.MassAuthentics.Ecrater.com
http://massauthentics.tumblr.com/
In the ESPN article linked below written by ESPN.com senior NBA writer Marc Stein and the associated press it says that the average NBA player is losing $220,000 for each pay check that is missed during the lockout. Today is the 140th day without a labor agreement between the players and owners and Tuesday was the day that the first paycheck for players. Normally most players receive 1/12th of their pay on November 15th under the previous collective bargaining agreement. Now that the players have voted to file "disclaimer of interest" which will in effect disband the union. They are planning to file an anti-trust lawsuit and then seek a summary judgement which would claim that the owners shutdown and lockout was illegal.
NBA commissioner David Stern did an interview live on ESPN about an hour after the news of the players decision broke and made several inflammitory but expected comments such as stating repeatedly that the players were just using this as a negotiating tactic, saying that the unions outside counsel Jeffrey Kessler "got his way, and were about to go into the nuclear winter of the NBA"
My Take:
As i'm sure most of you know that have dealt with any part of our legal/court system it's quite the drawn out process. Just the simple task of setting a date to begin can sometimes be time consuming because of the large number of attorney's on each side having to coordinate schedules along with the other trials and cases on the docket already. I'm not sure who it benefits most if this drags out beyond the entire season but I would think it would be the owners due to their very very deep pockets and immense reserve funds they often have available. Remember, most of these owners are billionaires and there are a very select few players that will ever come within eyesight of that figure, probably only 1 or 2 in the NBA today and that's Kobe Bryant and Lebron James largely because of endorsement deals.
Now let's talk about that $220,000 figure that was mentioned. The fact of the matter is although NBA players all make very good money, over half of them are making less then that probably. The number get's skewed because of the salaries of say Shaquille O'Neal gets factored in at 22 million or Kevin Garnett at 20 million or Kobe at 19 million ect ect. These are not figures coming up for this year but i'm just speaking in generalities. If you have a player that's going into his 3rd year and he's a 10th-11th man, that 180k after taxes is down to 120k. Let's just hope some of these young men were smart with their money, didn't buy multiple cars, houses, extend his hand to long lost cousins, aunts and uncles so he can make it through this....because I'm not worried about Kobe putting food on his sons plate, but as much as it pains me to say, I almost felt bad for the guy making close to 200k.
Sad isn't it?
http://espn.go.com/nba/story/_/id/7238632/nba-lockout-average-player-loses-220000-paychecks-arrive
+Joshua Hastings
@joshuadavid1121
www.MassAuthentics.Ecrater.com
http://massauthentics.tumblr.com/
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