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lawyers rule deal for larry a winner (article)
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martin
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11/10/2006  11:11 AM
Posted by Killa4luv:
Posted by Elite:

do you guys really think larry brown would give up over 20million dollars just to "get rid of the offset" .... WOW

The man hired one of the most expensive lawfirm in the country to handle this for him... If he really wanted this result.. He could have had it without Sterns intervention.

Stern saw something fishy, Brown violated his contract, plain and simple.

Furthermore, reports from the sunmmer were that Dolan & co. were leaning towards a buyout of around 25 million. Now he gets 18 and you guys are all saying, yeah Larry only wanted 18 because he wanted to coach again. typical.

[Edited by - Killa4luv on 11-10-2006 10:56 AM]

yeah but what was the offset. That's important.
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Killa4luv
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11/10/2006  11:40 AM
Posted by martin:
Posted by Killa4luv:
Posted by Elite:

do you guys really think larry brown would give up over 20million dollars just to "get rid of the offset" .... WOW

The man hired one of the most expensive lawfirm in the country to handle this for him... If he really wanted this result.. He could have had it without Sterns intervention.

Stern saw something fishy, Brown violated his contract, plain and simple.

Furthermore, reports from the sunmmer were that Dolan & co. were leaning towards a buyout of around 25 million. Now he gets 18 and you guys are all saying, yeah Larry only wanted 18 because he wanted to coach again. typical.

[Edited by - Killa4luv on 11-10-2006 10:56 AM]

yeah but what was the offset. That's important.

Important to whom?
djsunyc
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11/10/2006  12:11 PM
both sides are spin city.

bottom line, dude made $28.5 mil for 1 year worth of work and can now go anywhere he wants and the players are happy that he's gone. everybody wins except dolan.
Nalod
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11/10/2006  12:13 PM
Larry got 18.5 mil to walk away and be free.

Dolan had used the contract to keep JVG away and would not allow him to coach without compensation. Him, chaney and Wilkins all had gag orders.

Larry is not beholden to Dolan any more. They are done!

While Larry left money on the table, it is not like he had to work for it!

He won't get no 10 mil to coach anywhere else, but in the right circumstances he will get a nice deal, and Im sure language in a contract fair to the owner in the event he pulls another knick thing, but also one that is fair to him.

In the end, this disaster ended "fair". Larry got 28.5 mil to coach one year and is free to do what ever. Also the lump sum it very big. Present value is always important! Knicks got to save some money also. Win-win after a disasterous relationship for BOTH parties!

K22
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11/10/2006  12:16 PM
Posted by djsunyc:

both sides are spin city.

bottom line, dude made $28.5 mil for 1 year worth of work and can now go anywhere he wants and the players are happy that he's gone. everybody wins except dolan.

And us.
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arkrud
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11/10/2006  12:25 PM
Posted by djsunyc:

both sides are spin city.

bottom line, dude made $28.5 mil for 1 year worth of work and can now go anywhere he wants and the players are happy that he's gone. everybody wins except dolan.

Plus if he will get 4 years contract of 24 mils (which is very likely) he will make 2 mils more if he will stay with NY
And on top of this he has 18 mils now which he can invest and get about 10 mils profit in 4 years at minimum
Rich and smart people never lose money regardless their personality


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newyorknewyork
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11/10/2006  4:54 PM
http://sports.yahoo.com/nba/news;_ylt=AjflY.L0fT62jq9ApEX6W7O8vLYF?slug=aw-brown111006&prov=yhoo&type=lgns
Eventually, Larry Brown will want back into the NBA and the issue surrounding his return is unmistakable: How much of his talent makes him worth the unprecedented doses of duplicity, double-crosses and diva that come with him?


As one league executive said, "More than ever, you know what you're getting with him."

What you're getting is a coach who promises to usurp your authority as general manager, who promises to change his mind every 10 minutes on the roster. Since the 2004 Athens Games, Brown has exposed himself as a headcase beyond the biggest in basketball, beyond any teenage knucklehead born of America's AAU circuit and sneaker culture.

He's Artest in Armani.

For an NBA executive to watch what happened with Team USA elders, Joe Dumars and Isiah Thomas on Brown's last three coaching turns, he has to know that Brown is too toxic to hinge his own survival to this coach's fleeting whims.
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Across the NBA, several executives polled were unanimous: Brown will work again, but it won't be with a stranger. What will spare him the indignity of needing to go back to college and getting one more program put on probation will be the welcoming arms of the Carolina family.

"I think Charlotte (is) the lead team, because of Michael (Jordan), because he's a former North Carolina guy and because the people there still have strong feelings for him," one Western Conference G.M. said.

Back to his Carolina home, back to the warm embrace of Dean Smith's extended family. This could be where a Hall of Fame coach needs to exact redemption on his beleaguered reputation. The New York Knicks bought out the final four years of his original $50 million for $18.5 million, documents revealed this week.

Somehow, it left Brown's old boys to cast him as a sympathetic figure, a martyr in the struggle for coaching contract rights. Yes, Larry is a genuine Cesar Chavez, fighting the good fight for the working man.

With him out of sight now, Brown has his last loyalists stumping for him, San Antonio's Gregg Popovich – whom Brown gave his big coaching break with the Spurs – and George Karl – a Tar Heel. Mostly, though, Brown has isolated himself. Popovich and Karl insist that the Knicks' failure to honor the entirety of his contract was suddenly the beginning of the end for the sanctity of the coach's contract.

Listen, there were no good guys in the Knicks-Brown fight (think Iran and Iraq in the old days) but Brown stopped trying in New York a year ago and everybody knows it. Even before his Knicks’ players did, Brown threw up his hands and quit. He was trying to prove a point that he had hated the personnel and hated Isiah Thomas and, well, he proved his point all the way to 23 victories.

Across the past three years, Brown has had some run of quitting on his teams, beginning in Athens where he immediately started distancing himself from his roster before Team USA played a game. He was bitching that he didn't have enough shooters, even though it was his recommendation that the U.S. bring UConn's Emeka Okafor over Milwaukee's Michael Redd. During the Olympics, Brown did everything but jump over to the Serbia-Montenegro sideline mid-Games.

For all the talk of the ugly NBA American in Olympic play, none had ever conducted themselves as selfishly as Brown. From commissioner David Stern to USA Basketball officials, no one left the Olympics thinking anything but what a slug Brown turned out to be for the red, white and blue.


From there, it was home to Detroit to defend his NBA title, something that Brown couldn't do in the spring of 2005 without pining publicly and privately for the presidency of the Cleveland Cavaliers. He would leave the most dignified general manager in basketball, Dumars, for one of the most Machiavellian in Isiah Thomas, a money grab to end all money grabs, bailing on a championship contender for Cablevision's New York coaching slush fund and a renegade roster of losers.

Just understand this: Brown won't go away. He won't retire in Philadelphia where he's living with his family now. For years, Brown has said he'll take a high school job, forever selling himself as some sort of purveyor of basketball purity. That's been one of the truly phony tenets of his whole act, because Brown wouldn't walk across the street without a bag of money sitting on the sidewalk.

So yes, now the Carolina family can still salvage his tattered image. Still, it's strange. Brown is the anti-Dean Smith in every way. Somehow still, Smith has stayed loyal to him. The legendary Tar Heels coach didn't deliver Brown what he ultimately wanted in 2000 – the UNC coaching job – but then again, even old Coach Smith couldn't have lived with Blue Heaven going on probation the way that Kansas and UCLA did under Brown's ethics-free watch.

Nevertheless, Charlotte part-owner Michael Jordan will be partial to his Carolina roots. He tried to hire Roy Williams with the Wizards. What's more, the Bobcats' personnel fit Brown's half-court, defensive-minded style, with Okafor and Scott May on the inside, a dead-eye scorer in Adam Morrison and a tough, Tar Heel guard in Raymond Felton on the perimeter.

The thing is, Bernie Bickerstaff has done a terrific job constructing and coaching this franchise, but no one expected him to be the long-term choice there. The Carolina family is running the Bobcats now, and the clan's black sheep is wandering again, searching for a home.

Larry Brown is going to coach again, even if fewer NBA arms than ever will be open to him. If it turns out to be Charlotte, you can hear the rest of the league letting out a deep sigh and muttering these words: Better them than us.

Adrian Wojnarowski is the national NBA columnist for Yahoo! Sports.
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TrueBlue
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11/10/2006  5:28 PM
LOL How did Team USA do this off-season and how did they do a couple yrs before Brown?
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Rich
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11/10/2006  8:10 PM
It's called damage control.
TheSage
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11/10/2006  8:35 PM
I tend to agree with most of the other lawyers who think LB came out on top in this one. The 40+ million over the next 4 years has a present value of about 31.5 million. Assuming he coaches 3 out the next 4 years at 10 mill per=30 million-60% to Dolan+12 mill so that he would have received 41.5 over the next 4 years had he received the present value of his contract and taken a year off,

With the settlement he received 18.5 and again assuming he works 3 out the the next 4 years he would get 30. 30+18.5=48.5. An the icing on the case he doesn't have to listen to Dolan, Mills or IT.
Rich
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11/10/2006  8:36 PM
No unbiased lawyer thinks Larry came out on top.
Bobby
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11/10/2006  9:08 PM
knick fans caring about larry laughingstock getting paid big money for absolutely accomplishing nothing for knick basketball gives more definition to fickle fans

yahoo polls more votes for larry not to coach. and if larry never coached again in the nba would be my dream come true
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arkrud
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11/10/2006  11:39 PM
Posted by Rich:

No unbiased lawyer thinks Larry came out on top.

LB get payed 28.5 mils for one year of job (or as some think a non-job) and is free to go and do whatever
If somebody think he is a loser - I want to be this type of loser too. But I guess I will need to win a jackpot in NJ lottary to even come close.
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Rich
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11/10/2006  11:44 PM
Posted by arkrud:
Posted by Rich:

No unbiased lawyer thinks Larry came out on top.

LB get payed 28.5 mils for one year of job (or as some think a non-job) and is free to go and do whatever
If somebody think he is a loser - I want to be this type of loser too. But I guess I will need to win a jackpot in NJ lottary to even come close.

$10 million doesn't figure into any analysis because it was a bargained for exchange.

He supposedly was due $40 million more as part of a guaranteed contract, and he wanted an additional $13 million in damages, yet he accepted just over $18 million.

It's not about being a loser compared to the average person. It's about objectively looking at the situation and realizing that there is no way he would accept less than he had contractually bargained for if there had not been evidence that he had breached his contract.

islesfan
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11/11/2006  2:20 AM
$18.5M < $41M

That's all the Larry Brown haters care about.

They don't care about present value.

They don't care about offsets.

They don't care about any facts or logic.

They don't care that Larry Brown negotiated his unconditional release so he can't be Van Gundy'd

They don't care that the next team that he coaches won't have to worry about compensation for hiring him.

They don't care that LB apparently wouldn't have to pay back 60 cents on the dollar when he got another job.

They just care that $18.5M < $41M and that simple fact, and I do mean simple, must mean that Larry Brown got abused by Dolan in this settlement.
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Rich
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11/11/2006  2:22 AM
Posted by islesfan:

$18.5M < $41M

That's all the Larry Brown haters care about.

They don't care about present value.

They don't care about offsets.

They don't care about any facts or logic.

They don't care that Larry Brown negotiated his unconditional release so he can't be Van Gundy'd

They don't care that the next team that he coaches won't have to worry about compensation for hiring him.

They don't care that LB apparently wouldn't have to pay back 60 cents on the dollar when he got another job.

They just care that $18.5M < $41M and that simple fact, and I do mean simple, must mean that Larry Brown got abused by Dolan in this settlement.

And evidently, you don't care about the basic principles of contract law.
Solace
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11/11/2006  8:57 AM
In other words, great deal for Larry. What this is saying is that if Larry takes the $18.5 MM lump sum, invests it in mutual funds, he comes a lot closer to the $41 MM than if they made him wait the four years to get the full amount. Furthermore, he can coach, without the other team having to owe the Knicks anything... what this means is that teams will be more willing to hire him and teams will pay him more $$ as they won't owe the Knicks anything.

Now, say he gets $5 MM a year for the next three years, from say the Bobcats... guess what? Between the Knicks 1 year, Knicks settlement + 3 years coaching Bobcats, he's surpassed the $41 MM. $10 + $18.5 + $5 * 3 = $43.5 MM. That's not even including interest!

Larry made out like a bandit.
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11/11/2006  10:56 AM
Larry got about one-third of what he was asking for. Obviously he felt he was likely to be found in breach of his contract.
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Vmart
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11/11/2006  11:04 AM
There was only one winner in this and that was Larry Brown he played the Knicks and its fans. So the real losers in this fiasco was the Knicks and the fans.
wsdm
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11/11/2006  11:22 AM
Diva Brownopoly strikes again! He's disgusting
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lawyers rule deal for larry a winner (article)

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