[ IMAGES: Images ON turn off | ACCOUNT: User Status is LOCKED why? ]

LB got $18.5 mil
Forum Index  ›  NY Knicks Forum
Page 2 of 3 ‹ Previous 1  2  3 Next ›
« Reply To Topic
Author Thread
martin
Posts: 80930
Alba Posts: 108
Joined: 7/24/2001
Member: #2
USA
11/8/2006  6:55 PM
Posted by oohah:

^^^^I think it is a bad precedent if coaches can deliberately sabotage their own team and break numerous rules in their contract and still get paid in full.

Don't you think so as well?

oohah

which rule did he break?
Official sponsor of the PURE KNICKS LOVE Program
AUTOADVERT
nyk4ever
Posts: 41012
Alba Posts: 12
Joined: 1/12/2005
Member: #848
USA
11/8/2006  6:58 PM
Posted by oohah:

^^^^I think it is a bad precedent if coaches can deliberately sabotage their own team and break numerous rules in their contract and still get paid in full.

Don't you think so as well?

oohah

Isn't Isiah Thomas breaking the same rules that Brown did by speaking to the press harshly about his players.
"OMG - did we just go on a two-trade-wining-streak?" -SupremeCommander
wsdm
Posts: 20803
Alba Posts: 0
Joined: 8/16/2006
Member: #1167
11/8/2006  7:01 PM
This is a great precedent. Contracts are meaningful and you have to live up to your end of them.
www.selltheknicks.com----No more DOLANOMICS!
BasketballJones
Posts: 31973
Alba Posts: 19
Joined: 7/16/2002
Member: #290
USA
11/8/2006  7:02 PM
On the bottom of page 83 it says they paid hiim $18,500. Not $18,500,000 - 18,500.
On June 22, 2006, the New York Knicks, a division of Madison Square Garden, L.P., notified the then-head coach of the Knicks, Larry Brown, that his employment had been terminated with cause pursuant to his employment agreement with the Knicks. Mr. Brown disputed the Knicks’ right to terminate his employment with cause and the matter was referred to the Commissioner of the National Basketball Association (“NBA”), who had the authority under the agreement to resolve all disputes. On October 30, 2006, the parties reached a settlement of this matter under which the Knicks agreed to pay Mr. Brown $18,500 of the disputed amount in connection with his employment agreement, which amount has been accrued for in the accompanying financial statements as of September 30, 2006.
https:// It's not so hard.
nyk4ever
Posts: 41012
Alba Posts: 12
Joined: 1/12/2005
Member: #848
USA
11/8/2006  7:03 PM
Posted by wsdm:

This is a great precedent. Contracts are meaningful and you have to live up to your end of them.

So if thats the case nearly every Knick can be fired?
"OMG - did we just go on a two-trade-wining-streak?" -SupremeCommander
BasketballJones
Posts: 31973
Alba Posts: 19
Joined: 7/16/2002
Member: #290
USA
11/8/2006  7:06 PM
Oh, here's a reference on page 96:
* The change in the provisions for certain team personnel transactions, for the three and nine month periods ended September 30, 2006, includes the settlement of the dispute with the Knicks ex-head coach, Larry Brown under which the Knicks agreed to pay Mr. Brown $18.5 million of the disputed amount in connection with his employment agreement. On October 30, 2006 the Knicks waived a player. The provision associated with the waiver will be recorded in the fourth quarter of 2006.
https:// It's not so hard.
oohah
Posts: 26600
Alba Posts: 0
Joined: 4/7/2005
Member: #887
11/8/2006  7:09 PM
So if thats the case nearly every Knick can be fired?

Isn't Isiah Thomas breaking the same rules that Brown did by speaking to the press harshly about his players.

which rule did he break?

I am not getting into it with you guys. You're trying to compare poor play or f!cking up to violating a contract.

Don't argue with me, argue with Mr. Stern!

oohah



[Edited by - oohah on 08-11-2006 7:10 PM]
Good luck Mike D'Antoni, 'cause you ain't never seen nothing like this before!
VDesai
Posts: 43302
Alba Posts: 44
Joined: 10/28/2003
Member: #477
USA
11/8/2006  7:10 PM
One thing good about my job is I know how to use sec.gov and Edgar online. Here is the relevent info:

Contract Disputes

In September 2005, Loral filed an action for breach of its agreement with Rainbow DBS alleging that the sale of the Rainbow 1 satellite and related assets to EchoStar would trigger a Make Whole Payment of $33,000 plus interest, or approximately $50,400 as of September 30, 2006. A trial in this matter has been scheduled for January 16, 2007. The Company believes that it has substantial defenses to Loral’s claim and is contesting the lawsuit vigorously. Accordingly, no provision has been made for such Make Whole Payment in the accompanying condensed consolidated financial statements.

On June 22, 2006, the New York Knicks, a division of Madison Square Garden, L.P., notified the then-head coach of the Knicks, Larry Brown, that his employment had been terminated with cause pursuant to his employment agreement with the Knicks. Mr. Brown disputed the Knicks’ right to terminate his employment with cause and the matter was referred to the Commissioner of the National Basketball Association (“NBA”), who had the authority under the agreement to resolve all disputes. On October 30, 2006, the parties reached a settlement of this matter under which the Knicks agreed to pay Mr. Brown $18,500 of the disputed amount in connection with his employment agreement, which amount has been accrued for in the accompanying financial statements as of September 30, 2006.


The numbers are in thousands.

http://www.sec.gov/Archives/edgar/data/784681/000110465906072875/a06-23482_110q.htm

It's under contract disputes several paragraphs down. This is official


[Edited by - VDesai on 11-08-2006 7:14 PM]
nyk4ever
Posts: 41012
Alba Posts: 12
Joined: 1/12/2005
Member: #848
USA
11/8/2006  7:12 PM
Posted by oohah:
So if thats the case nearly every Knick can be fired?

Isn't Isiah Thomas breaking the same rules that Brown did by speaking to the press harshly about his players.

which rule did he break?

I am not getting into it with you guys. You're trying to compare poor play or f!cking up to violating a contract.

Don't argue with me, argue with Mr. Stern!

oohah



[Edited by - oohah on 08-11-2006 7:10 PM]

I know your not getting into it and I see half of your point but when Dolan was talking about Larrys firing on that fireside chat with Isiah, didn't he say all of Larrys talking in the press was part of the reason? I mean its not like Isiah is saying nice things in the press.
"OMG - did we just go on a two-trade-wining-streak?" -SupremeCommander
SugarRayRichardson
Posts: 21557
Alba Posts: 0
Joined: 8/28/2006
Member: #1169
11/8/2006  7:13 PM
Posted by BasketballJones:

On the bottom of page 83 it says they paid hiim $18,500. Not $18,500,000 - 18,500.
On June 22, 2006, the New York Knicks, a division of Madison Square Garden, L.P., notified the then-head coach of the Knicks, Larry Brown, that his employment had been terminated with cause pursuant to his employment agreement with the Knicks. Mr. Brown disputed the Knicks’ right to terminate his employment with cause and the matter was referred to the Commissioner of the National Basketball Association (“NBA”), who had the authority under the agreement to resolve all disputes. On October 30, 2006, the parties reached a settlement of this matter under which the Knicks agreed to pay Mr. Brown $18,500 of the disputed amount in connection with his employment agreement, which amount has been accrued for in the accompanying financial statements as of September 30, 2006.

LOL Thats in 1000s, not single dollars. :)
I LOVED how Curry just exploded in the 4th, speaking as a fan of the Raptors, Curry looked well, scary I think is the word. Or Shaq-like Curry: 19.1ppg-7.3rpg-58%fg
Rich
Posts: 27410
Alba Posts: 6
Joined: 12/30/2003
Member: #511
USA
11/8/2006  7:16 PM
The inescapable conclusion is that MSG's lawyers likely had evidence that Larry breached his contract.
oohah
Posts: 26600
Alba Posts: 0
Joined: 4/7/2005
Member: #887
11/8/2006  7:17 PM
I know your not getting into it and I see half of your point but when Dolan was talking about Larrys firing on that fireside chat with Isiah, didn't he say all of Larrys talking in the press was part of the reason? I mean its not like Isiah is saying nice things in the press.

I don't view what Isiah has done as tearing into the players, especially specific players the way LB did. Also, I am sure it would not have been such a big deal if LB did not do it so much.

oohah

Good luck Mike D'Antoni, 'cause you ain't never seen nothing like this before!
martin
Posts: 80930
Alba Posts: 108
Joined: 7/24/2001
Member: #2
USA
11/8/2006  7:17 PM
Posted by Rich:

The inescapable conclusion is that MSG's lawyers likely had evidence that Larry breached his contract.

then why settle for anything more than $0? It must not have been overwhelming evidence.
Official sponsor of the PURE KNICKS LOVE Program
Rich
Posts: 27410
Alba Posts: 6
Joined: 12/30/2003
Member: #511
USA
11/8/2006  7:21 PM
Posted by martin:
Posted by Rich:

The inescapable conclusion is that MSG's lawyers likely had evidence that Larry breached his contract.

then why settle for anything more than $0? It must not have been overwhelming evidence.

For the same reason lawyers settle civil cases: you never know how a jury will view the evidence and the parties. In this case the jury was Stern. You cannot be certain on how he would rule, so if you can get a reasonable deal (which can only be viewed as a win for the Knicks), you take it.
oohah
Posts: 26600
Alba Posts: 0
Joined: 4/7/2005
Member: #887
11/8/2006  7:23 PM
Posted by martin:
Posted by Rich:

The inescapable conclusion is that MSG's lawyers likely had evidence that Larry breached his contract.

then why settle for anything more than $0? It must not have been overwhelming evidence.

And if he did not breach why not settle for any less than $40 Mil? Because it is a settlement.

oohah



[Edited by - oohah on 08-11-2006 7:23 PM]
Good luck Mike D'Antoni, 'cause you ain't never seen nothing like this before!
TheGame
Posts: 26656
Alba Posts: 0
Joined: 7/15/2006
Member: #1154
USA
11/8/2006  7:25 PM
Posted by SugarRayRichardson:
Posted by crzymdups:
Posted by SugarRayRichardson:

Until I see tthis filing and subsequent annual filings I think ESPN could be jumping the gun as they have been known to do in the past.

it's based on paperwork filed with the SEC. it's legit. only thing we don't know is whether there will be more.

I already looked at it. Thats what I was saying. I didnt know if there would be furthur subsequent filings. This is what todays filing said.

n June 22, 2006, the New York Knicks ("Knicks"), a division of Madison Square Garden, L.P., notified the then-head coach of the Knicks, Larry Brown, that his employment had been terminated with cause pursuant to his employment agreement with the Knicks. Mr. Brown disputed the Knicks' right to terminate his employment with cause and the matter was referred to the Commissioner of the

NBA, who had the authority under the agreement to resolve all disputes. On October 30, 2006, the parties reached a settlement of this matter under which the Knicks agreed to pay Mr. Brown $18.5 million of the disputed amount in connection with his employment agreement, which amount has been accrued for in the accompanying financial statements as of September 30, 2006.

Based on the language in the filing, it looks like $18.5 is all Larry gets. It is definitely a win for the Knicks. Paying Larry $41 millon for doing nothing would have been ridiculous, bad precedent or not. With $18.5 he gets to say he got paid, and Cablevision's bottom-line avoids a bigger hit.
Trust the Process
Killa4luv
Posts: 27774
Alba Posts: 51
Joined: 6/23/2002
Member: #261
USA
11/8/2006  7:29 PM
This is what I said all along, but most of you had your head's up Brown's ass so far, and you wanted him to get the money so bad that you justified it using silly arguments about contracts being worthless.

His contract was not simply voided, he breached clauses in them, some of which we all could see very clearly nd blatantly, the same way we could see he tanked the season blatantly. I would have preferred for him to get absolutely nothing. But again, if I were settling this I would have arrived at a number more or less in the middle, because that is how you settle things. You don't settle things fairly by giving one side everything. How some of you didn't and still don't get that is beyond me.
Rich
Posts: 27410
Alba Posts: 6
Joined: 12/30/2003
Member: #511
USA
11/8/2006  7:31 PM
Posted by oohah:
Posted by martin:
Posted by Rich:

The inescapable conclusion is that MSG's lawyers likely had evidence that Larry breached his contract.

then why settle for anything more than $0? It must not have been overwhelming evidence.

And if he did not breach why not settle for any less than $40 Mil? Because it is a settlement.

oohah



[Edited by - oohah on 08-11-2006 7:23 PM]

Brown's lawyers actually asked for $53 million (including damages).

I also think that Stern was very reluctant to set a precedent. The Knicks' lawyers knew that, and it gave them additional leverage.
oohah
Posts: 26600
Alba Posts: 0
Joined: 4/7/2005
Member: #887
11/8/2006  7:33 PM
ut again, if I were settling this I would have arrived at a number more or less in the middle, because that is how you settle things.

If I were settling the contract I would have given him 18,500,000 kicks in the nuts.

oohah

Good luck Mike D'Antoni, 'cause you ain't never seen nothing like this before!
Rich
Posts: 27410
Alba Posts: 6
Joined: 12/30/2003
Member: #511
USA
11/8/2006  7:37 PM
You only settle in the middle when both parties are in equipoise. We now know that they weren't.
Page 2 of 3 ‹ Previous 1  2  3 Next ›
« Reply To Topic
LB got $18.5 mil
Forum Index  ›  NY Knicks Forum

©2001-2025 ultimateknicks.comm All rights reserved. About Us.
This site is not affiliated with the NY Knicks or the National Basketball Association in any way.
You may visit the official NY Knicks web site by clicking here.

All times (GMT-05:00) Eastern Time.

Terms of Use and Privacy Policy