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

Rubio sues Spanish team
Forum Index  ›  NY Knicks Forum
Page 3 of 3 ‹ Previous 1  2  3 
« Reply To Topic
Author Thread
eViL
Posts: 25412
Alba Posts: 9
Joined: 1/21/2004
Member: #561
USA
6/10/2009  2:35 PM
Posted by Pharzeone:
Posted by PresIke:

did folks even read the article here?

Rubio in trying to negotiate the buyout IS SUING HIS TEAM BECAUSE HE FOUND OUT SOLD HIS BUYOUT TO THE SPANISH FORM OF THE IRS because the team owes the government money.

This is like something out of the AIG stuff we heard about AIG selling other people's loan debts for money.

wow, this is crazy.

Imagine the Marbury situation, sort of, where he wants off the team, but instead where his contract was sold to the IRS as an asset to pay of debt the Knicks owe.

[Edited by - PresIke on 06-10-2009 11:02 AM]

Not unusual. Done everyday. Debts and rights to assets can be assigned at any given moment unless you otherwise specify in your contract that such rights can't be transfer. A contractual obligation is considered an asset. Not sure what his grounds for any lawsuit can be if he didn't specify that his contract can't be sold which I seriously doubt.

His grounds for the lawsuit could be that the buyout, at its current price, it's an unenforceable penalty in light of the fact that the contract is a personal services contract in which Rubio is only being paid a mere fraction of the enormous buyout price. Not saying that the buyout would be waived, just saying that a court may adjust the buyout. It's not unheard of.
check out my latest hip hop project: https://soundcloud.com/michaelcro http://youtu.be/scNXshrpyZo
AUTOADVERT
Pharzeone
Posts: 32183
Alba Posts: 14
Joined: 2/11/2005
Member: #871
6/10/2009  2:41 PM
Posted by eViL:
Posted by Pharzeone:
Posted by PresIke:

did folks even read the article here?

Rubio in trying to negotiate the buyout IS SUING HIS TEAM BECAUSE HE FOUND OUT SOLD HIS BUYOUT TO THE SPANISH FORM OF THE IRS because the team owes the government money.

This is like something out of the AIG stuff we heard about AIG selling other people's loan debts for money.

wow, this is crazy.

Imagine the Marbury situation, sort of, where he wants off the team, but instead where his contract was sold to the IRS as an asset to pay of debt the Knicks owe.

[Edited by - PresIke on 06-10-2009 11:02 AM]

Not unusual. Done everyday. Debts and rights to assets can be assigned at any given moment unless you otherwise specify in your contract that such rights can't be transfer. A contractual obligation is considered an asset. Not sure what his grounds for any lawsuit can be if he didn't specify that his contract can't be sold which I seriously doubt.

His grounds for the lawsuit could be that the buyout, at its current price, it's an unenforceable penalty in light of the fact that the contract is a personal services contract in which Rubio is only being paid a mere fraction of the enormous buyout price. Not saying that the buyout would be waived, just saying that a court may adjust the buyout. It's not unheard of.

Courts can adjust clauses (including buyouts or "escapes") or contracts only enforce them or compensate the injured party for a breach. That would have to be handle in arbitration hearings. Sounds like he and his people are scared of the fact that they would have to arbitrate with a government agency vs. a private sector entity. I don't blame him. Remember he is suing his team because he found out that his contract rights were transfer not because of his buyout and the amount.
I don't like to play bad rookies , I like to play good rookies - Mike D'Antoni
martin
Posts: 76317
Alba Posts: 108
Joined: 7/24/2001
Member: #2
USA
6/10/2009  2:46 PM
Posted by Pharzeone:

Courts can adjust clauses (including buyouts or "escapes") or contracts only enforce them or compensate the injured party for a breach. That would have to be handle in arbitration hearings. Sounds like he and his people are scared of the fact that they would have to arbitrate with a government agency vs. a private sector entity. I don't blame him. Remember he is suing his team because he found out that his contract rights were transfer not because of his buyout and the amount.

I read the article a bit differently. Don't know where you got the scared part. He and his team didn't KNOW that his contract was transfered and thus sued his team.

To the second point, Rubio and team were also pushing for arbitration because of his buyout and the amount.
Official sponsor of the PURE KNICKS LOVE Program
Pharzeone
Posts: 32183
Alba Posts: 14
Joined: 2/11/2005
Member: #871
6/10/2009  3:15 PM
Posted by martin:
Posted by Pharzeone:

Courts can adjust clauses (including buyouts or "escapes") or contracts only enforce them or compensate the injured party for a breach. That would have to be handle in arbitration hearings. Sounds like he and his people are scared of the fact that they would have to arbitrate with a government agency vs. a private sector entity. I don't blame him. Remember he is suing his team because he found out that his contract rights were transfer not because of his buyout and the amount.

I read the article a bit differently. Don't know where you got the scared part. He and his team didn't KNOW that his contract was transfered and thus sued his team.

To the second point, Rubio and team were also pushing for arbitration because of his buyout and the amount.

He is suing because his team transfered his contract rights which is a baseless merit unless he can show that the contract could not be transfer therefore a breach of his contract or that it was invalid contract to begin with but this can be defeated with performance. I used the term "scared" because no one wants to attempt to arbitrate with a government agency vs. someone in the private sector for many reseaons including among them resources and bureaucracy. This issue may not be resolved immediately. He won't be allow to play for any team until it is resolve since the NBA CBA restricts players from having another contractual obligation with another professional team outside of the CBA. Stern had to get permission from the Player Association just to allow Yao Ming's Sharks contract to be taken over by the Chinesse government and he could join the league at the same time.

Also according to the article wasn't it his team who assigned his contract. So they had to know it was assigned. And I am sure that he was pushing his team for arbitration which only means that he would like his contract adjusted. Doesn't mean they have to agree to arbitration since he has a valid contract. Arbitration has to be agreed upon by both sides. The issue he now faces is whether the team has any rights in arbitration if they no longer hold his rights.
I don't like to play bad rookies , I like to play good rookies - Mike D'Antoni
nyk4ever
Posts: 41010
Alba Posts: 12
Joined: 1/12/2005
Member: #848
USA
6/10/2009  3:55 PM
Pharz, do you work in the legal sector?
"OMG - did we just go on a two-trade-wining-streak?" -SupremeCommander
Pharzeone
Posts: 32183
Alba Posts: 14
Joined: 2/11/2005
Member: #871
6/10/2009  4:49 PM
Posted by nyk4ever:

Pharz, do you work in the legal sector?

2 1/2 years of contract and tort laws with two semesters of international contracts. Blame the SJU Business college.
I don't like to play bad rookies , I like to play good rookies - Mike D'Antoni
nyk4ever
Posts: 41010
Alba Posts: 12
Joined: 1/12/2005
Member: #848
USA
6/10/2009  4:54 PM
Posted by Pharzeone:
Posted by nyk4ever:

Pharz, do you work in the legal sector?

2 1/2 years of contract and tort laws with two semesters of international contracts. Blame the SJU Business college.



Figured you had something to do with that sorta thing.
"OMG - did we just go on a two-trade-wining-streak?" -SupremeCommander
Allanfan20
Posts: 35947
Alba Posts: 50
Joined: 1/16/2004
Member: #542
USA
6/10/2009  5:17 PM
Posted by Pharzeone:
Posted by nyk4ever:

Pharz, do you work in the legal sector?

2 1/2 years of contract and tort laws with two semesters of international contracts. Blame the SJU Business college.

What happened to Omar Cook?
“Whenever I’m about to do something, I think ‘Would an idiot do that?’ and if they would, I do NOT do that thing.”- Dwight Schrute
crzymdups
Posts: 52018
Alba Posts: 0
Joined: 5/1/2004
Member: #671
USA
6/10/2009  5:18 PM
i wonder what would happen if Rubio refused to work out for any team but the knicks?

i guess some other team could pick him and hold the knicks hostage in a trade, but it'd be an interesting tactic.
¿ △ ?
nyk4ever
Posts: 41010
Alba Posts: 12
Joined: 1/12/2005
Member: #848
USA
6/10/2009  5:19 PM
Posted by Allanfan20:
Posted by Pharzeone:
Posted by nyk4ever:

Pharz, do you work in the legal sector?

2 1/2 years of contract and tort laws with two semesters of international contracts. Blame the SJU Business college.

What happened to Omar Cook?

Shoulda taken up tort laws and international contracts.
"OMG - did we just go on a two-trade-wining-streak?" -SupremeCommander
Pharzeone
Posts: 32183
Alba Posts: 14
Joined: 2/11/2005
Member: #871
6/10/2009  5:21 PM
Posted by Allanfan20:
Posted by Pharzeone:
Posted by nyk4ever:

Pharz, do you work in the legal sector?

2 1/2 years of contract and tort laws with two semesters of international contracts. Blame the SJU Business college.

What happened to Omar Cook?

Cook left too early on a bogus promise.
I don't like to play bad rookies , I like to play good rookies - Mike D'Antoni
Cosmic
Posts: 26570
Alba Posts: 27
Joined: 3/17/2006
Member: #1115
USA
6/10/2009  8:52 PM
Posted by Pharzeone:
Posted by Allanfan20:
Posted by Pharzeone:
Posted by nyk4ever:

Pharz, do you work in the legal sector?

2 1/2 years of contract and tort laws with two semesters of international contracts. Blame the SJU Business college.

What happened to Omar Cook?

Cook left too early on a bogus promise.

What happened to Anthony Carter not picking up his what 4M+ players option on the Heat and ending up a broke free agent who signed for the minimum in SA?

That's the biggest LMFAO I've ever seen in NBA contracts.
http://popcornmachine.net/ A must-use tool for NBA stat junkies!
Cosmic
Posts: 26570
Alba Posts: 27
Joined: 3/17/2006
Member: #1115
USA
6/10/2009  8:55 PM
Posted by earthmansurfer:


I don't know Cosmic. Signing a contract at 16 is a bit of an out in my mind. At least it would be in the US (most litigious place on earth). I think with his salary being what it is, Rubio's lawyer does have an argument. I'm not saying he is in the right, but the law might see things different. He made 80k, or 160k (might have doubled it I read) and his buyout is 6 million. That is like waaaay too high.

I think it's at least fair to say that some negotiating is in order. I wouldn't see this as an all or nothing type of situation.

Yet, he signed it, and his agent/lawyer/parent, whoever, witnessed it and said go ahead. So what are we talking about here? Now he doesn't like it? What he makes per year is irrelevant. He signed on for that as well.

A 16 year old getting a girl pregnant is something you say "Ah, jeez, well, he's young, he doesn't understand, it's unfortunate."

A pro baller signing a basketball contract? With people who look after him saying go ahead it's all good? Nah, I don't see why he should get a pass on it.

Besides, it's a legally binding contract that he AGREED to sign. So something must have been great about it then. Now he hears the NBA will pay him 5M a year starting salary and he wants out of his legally binding contract. Fair enough, but, you signed the damn thing, don't cry to me, honor it and then move on once it has expired.

*confused*


http://popcornmachine.net/ A must-use tool for NBA stat junkies!
martin
Posts: 76317
Alba Posts: 108
Joined: 7/24/2001
Member: #2
USA
6/10/2009  9:50 PM
Posted by Cosmic:
Posted by earthmansurfer:


I don't know Cosmic. Signing a contract at 16 is a bit of an out in my mind. At least it would be in the US (most litigious place on earth). I think with his salary being what it is, Rubio's lawyer does have an argument. I'm not saying he is in the right, but the law might see things different. He made 80k, or 160k (might have doubled it I read) and his buyout is 6 million. That is like waaaay too high.

I think it's at least fair to say that some negotiating is in order. I wouldn't see this as an all or nothing type of situation.

Yet, he signed it, and his agent/lawyer/parent, whoever, witnessed it and said go ahead. So what are we talking about here? Now he doesn't like it? What he makes per year is irrelevant. He signed on for that as well.

A 16 year old getting a girl pregnant is something you say "Ah, jeez, well, he's young, he doesn't understand, it's unfortunate."

A pro baller signing a basketball contract? With people who look after him saying go ahead it's all good? Nah, I don't see why he should get a pass on it.

Besides, it's a legally binding contract that he AGREED to sign. So something must have been great about it then. Now he hears the NBA will pay him 5M a year starting salary and he wants out of his legally binding contract. Fair enough, but, you signed the damn thing, don't cry to me, honor it and then move on once it has expired.

*confused*

I think that assumption is wrong and thus the push for arbitration.

Official sponsor of the PURE KNICKS LOVE Program
Pharzeone
Posts: 32183
Alba Posts: 14
Joined: 2/11/2005
Member: #871
6/10/2009  10:17 PM
That's just it. People are missing the fact that you can't use mental capacity to adjust a contract. You can only use it as a defense in a breach of contract. Secondly, you can't use mental capacity in cases of minors if they were represented by reasonable and legal guardians where the minor appears to be in "good capacity" This is no different than getting your parents permission to join the armed forces under the age of 18 or to obtain working papers for employment under 18. Even if Rubio uses mental capacity as a defense to void the contract, if his parents and/or agents also signed the agreement then the owner of the contract has the legal right to seek recourse from them for the buyout amount. And they will have no such defense.

I don't like to play bad rookies , I like to play good rookies - Mike D'Antoni
lumbardar
Posts: 20146
Alba Posts: 0
Joined: 3/12/2009
Member: #2561
6/11/2009  1:00 AM
Does anybody know when does this trial starts and how long is this trial is going to last.
EnySpree
Posts: 44919
Alba Posts: 138
Joined: 4/18/2003
Member: #397
6/11/2009  1:16 AM
Posted by eViL:
Posted by PresIke:

did folks even read the article here?

HAHA!!!

[Edited by - eViL on 06-10-2009 11:49 AM]

you know people didn't...let me get back to reading the rest of this thread, lol
Subscribe to my Podcast https://youtube.com/c/DiehardknicksPodcast https://twitter.com/DiehardknicksPC https://instagram.com/diehardknickspodcast
EnySpree
Posts: 44919
Alba Posts: 138
Joined: 4/18/2003
Member: #397
6/11/2009  1:23 AM
So is anybody gonna mention the real posibility that Rubio could fall because of his buyout situation?

Sactown and the Wizards can afford to draft him and stash him until its worked out due to the talent they have...but what if he slips to the Knicks...do you draft this kid even though he might not be able to get out of his contract to play in the NBA this year???
Subscribe to my Podcast https://youtube.com/c/DiehardknicksPodcast https://twitter.com/DiehardknicksPC https://instagram.com/diehardknickspodcast
MaTT4281
Posts: 34898
Alba Posts: 4
Joined: 1/16/2004
Member: #538
USA
6/11/2009  2:37 AM
Posted by EnySpree:

So is anybody gonna mention the real posibility that Rubio could fall because of his buyout situation?

Sactown and the Wizards can afford to draft him and stash him until its worked out due to the talent they have...but what if he slips to the Knicks...do you draft this kid even though he might not be able to get out of his contract to play in the NBA this year???

YES!

If the draft gods shine down upon us and let Rubio fall to 8, you take him and you run! I love the idea of having Curry on this team, I think he will grow to be a terrific player and an important piece to the puzzle, but Rubio IS the god damn puzzle.

I know people have been critical of him, but the kid has franchise talent written all over him - he's an incredible passer, great court vision, long defender, tenacious on D and off the ball. His shot is definitely not his strong suit, but that is something you can teach.

Even with his buyout, he won't fall to 8, no way. I pray Donnie finds a way to move up to #2.
McK1
Posts: 26527
Alba Posts: 0
Joined: 7/16/2005
Member: #964
6/12/2009  5:14 PM
brandon jennings weighs in on Rubio

http://www.sacbee.com/static/weblogs/sports/kings/archives/2009/06/brandon-jenning.html
the stop underrating David Lee movement 1. FIRE MIKE 2. HIRE MULLIN 3. PAY AVERY 4. FREE NATE!!!
Page 3 of 3 ‹ Previous 1  2  3 
« Reply To Topic
Rubio sues Spanish team
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