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Report: Knicks Took Out Insurance on Brown
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martin
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4/17/2006  12:17 PM
The New York Knicks took out an insurance policy on Larry Brown's contract that would free the team from paying the remainder of the coach's contract if he's forced to resign due to health issues, the New York Daily News reported Monday.

The newspaper, citing an anonymous league source, reported that the Knicks made the move when Brown signed his record five-year, $50 million contract. The newspaper also said the contract would not prevent Brown from taking another NBA or college job if he and the Knicks part ways.

The 65-year-old Brown didn't travel to Detroit, where the Knicks lost 103-97 on Sunday. He was hospitalized Thursday night in Cleveland with a stomach ailment after becoming ill during the Knicks' 91-87 loss to the Cavaliers. He returned home Friday, but assistant coach Herb Williams ran the team in a 97-80 loss to Milwaukee.

It wasn't known if Brown will coach the final two games of the regular season: Monday at home against Charlotte or at New Jersey on Wednesday. The Knicks are 22-58, the worst record in the Eastern Conference.



Williams said he spoke to Brown during the past few days and said he sounded "OK" but didn't discuss whether Brown would return.

"It probably depends on how he feels," Williams told the newspaper. "At this point, it's no use to rush him back. He has to take care of himself."
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holfresh
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4/17/2006  1:26 PM
Posted by martin:

The New York Knicks took out an insurance policy on Larry Brown's contract that would free the team from paying the remainder of the coach's contract if he's forced to resign due to health issues, the New York Daily News reported Monday.

The newspaper, citing an anonymous league source, reported that the Knicks made the move when Brown signed his record five-year, $50 million contract. The newspaper also said the contract would not prevent Brown from taking another NBA or college job if he and the Knicks part ways.

The 65-year-old Brown didn't travel to Detroit, where the Knicks lost 103-97 on Sunday. He was hospitalized Thursday night in Cleveland with a stomach ailment after becoming ill during the Knicks' 91-87 loss to the Cavaliers. He returned home Friday, but assistant coach Herb Williams ran the team in a 97-80 loss to Milwaukee.

It wasn't known if Brown will coach the final two games of the regular season: Monday at home against Charlotte or at New Jersey on Wednesday. The Knicks are 22-58, the worst record in the Eastern Conference.



Williams said he spoke to Brown during the past few days and said he sounded "OK" but didn't discuss whether Brown would return.

"It probably depends on how he feels," Williams told the newspaper. "At this point, it's no use to rush him back. He has to take care of himself."



Martin I just posted the same thing...kill it for me plaese..tks



[Edited by - holfresh on 04-17-2006 1:26 PM]
OngBok
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4/17/2006  3:06 PM
I bet no one will respond to this post because it shows how SMART Zeke was for taking out this policy !! Oh no !! That is the last thing people want to hear !! lol.... LB could just walk away saying that his pee pee hurts and he will get paid and it will cost the Knicks NOTHING !!! THATS BEAUTIFUL !!! But all is quiet !!! shhhhhh !!! lol
Isiah Thomas will lead us back to the playoffs in 2006 !!!
Nalod
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4/17/2006  3:26 PM
Im sure the policy costs a bundle.

But with 60 mil in taxes on top of the 125million, Isiah is one shrewd coupon clippin thrifty kind of guy.

Should we give him a gold star and a cookie?
islesfan
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4/17/2006  3:26 PM
Posted by OngBok:

I bet no one will respond to this post because it shows how SMART Zeke was for taking out this policy !! Oh no !! That is the last thing people want to hear !! lol.... LB could just walk away saying that his pee pee hurts and he will get paid and it will cost the Knicks NOTHING !!! THATS BEAUTIFUL !!! But all is quiet !!! shhhhhh !!! lol

Yeah, that's the way insurance companies work.

So, did the Easter Bunny come to visit you yesterday? Did he bring Santa and the Tooth Fairy?
If it didn’t work in Phoenix with Nash and Stoutamire... it’s just not a winning formula. It’s an entertaining formula, but not a winning one. - Derek Harper talking about D'Antoni's System
islesfan
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4/17/2006  3:27 PM
Posted by Nalod:

Im sure the policy costs a bundle.

But with 60 mil in taxes on top of the 125million, Isiah is one shrewd coupon clippin thrifty kind of guy.

Should we give him a gold star and a cookie?

Knowing Isiah, the premium on that policy was $100 million.
If it didn’t work in Phoenix with Nash and Stoutamire... it’s just not a winning formula. It’s an entertaining formula, but not a winning one. - Derek Harper talking about D'Antoni's System
eViL
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4/17/2006  3:29 PM
Zeke's a genius. I was initially dissappointed with this season, but now I'm elated. Let's all go dancing in the streets. Next thing you know, he'll put lottery protection on our draft picks. BRILLIANT!!!

Come out all you nay-sayers. Isiah has done something good.

It's too bad that when Zeke does something smart like this, it's HUGE news. I wish he was such a consistently good decision maker that this wouldn't even be worth writing an article about.
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crzymdups
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4/17/2006  4:04 PM
Posted by OngBok:

I bet no one will respond to this post because it shows how SMART Zeke was for taking out this policy !! Oh no !! That is the last thing people want to hear !! lol.... LB could just walk away saying that his pee pee hurts and he will get paid and it will cost the Knicks NOTHING !!! THATS BEAUTIFUL !!! But all is quiet !!! shhhhhh !!! lol


Too bad Isiah didn't take out an insurance policy on the #1 overall pick we're sending to the Bulls (like, oh say, top three protection). I guess he was too busy brilliantly arranging for this health clause.
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Nalod
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4/17/2006  7:23 PM

I hear there is plenty of soap and paper towels at the garden for game.

You don't hear about that now do you! Nope, everyone just looking for the down side!

The roof did not cave in and kill 15,00 people. Exec of the year!

Don't hear about too many GMs getting accused for sexual harrasement, do you! But(t) all is quiet on that one!

No its not, Garden thinks it better to bring it public!

Not some little cheer leader or dancer! No, my man picks the one women who looks like Robert Parish and she rejects him!
EnySpree
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4/17/2006  8:53 PM
Isiah has padded on salary but still works it where there are still gonna be guys coming off the books. The players he does have can all be traded except for jj, malik and q-rich. The knicks have some great rookies too.

Still the record is what it is. But there is still a lot of room to manuver.

Not having a possible too pick is not a big problem for me. None of the guys up there seem better than what the knicks already have. Frye is just as good or better than any big man coming out. Lee is a very good player too. Nate shows signs or good things too.

Now this brown insurance policy just made my day. Brown can't strangle hold the knicks. If the dude is sick or wants a way out he's got it. So I'm not gonna give isiah props cuz this insurance probably is browns idea. Brown always has found a way to get out of every situation he has been in. He is a weasle!
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OngBok
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4/18/2006  1:59 PM
I can go with that Enyspree @!@
Isiah Thomas will lead us back to the playoffs in 2006 !!!
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