Fire Walton
- Thread starter Tetsujin
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Don't have, or don't want to pay that, plus whatever they'll need to pay to entice a new coach to come work for them.
It's telling that they aren't willing to consider this an $11 million investment to improve their product. Sure, there have been significant operating losses the last year, but the value of their equity in the team has skyrocketed since 2013. Maybe their customers should start thinking of better uses of our time and attention.
It's telling that they aren't willing to consider this an $11 million investment to improve their product. Sure, there have been significant operating losses the last year, but the value of their equity in the team has skyrocketed since 2013. Maybe their customers should start thinking of better uses of our time and attention.
Salaries are paid (i think monthly, based on games played) during the season. The team has had basicly zero fan/arena revenue the past year. They most likely are already dipping into reserves and took loans from the league office.
After the season, the next payment isnt due till the first month of the season. Based on the 11.5 mil at 164 games left on the contract he makes about 70k per game or around 950k per month during the season.
After the season, the next payment isnt due till the first month of the season. Based on the 11.5 mil at 164 games left on the contract he makes about 70k per game or around 950k per month during the season.
It’s deferred money. If you have a stretch provision you can lessen the impact to the bottom line and also reduce your total financial hit by funding an annuity that would pay out over time.
The Kings who already have lost a lot of money may keep him on board to save a couple million more next year.
The Kings who already have lost a lot of money may keep him on board to save a couple million more next year.
I am not minimizing the finances of the league but the cash call they had was centered around non-basketball operations. There are a lot of enterprises outside the arena that don't get TV revenue - which the basketball side does - and probably would be eligible for financial relief due to the pandemic that factored in.
Multimillionaires and billionaires aren't struggling right now. 11 million is a drop in the bucket compared to what many CEOs get when they are fired.
Multimillionaires and billionaires aren't struggling right now. 11 million is a drop in the bucket compared to what many CEOs get when they are fired.
People agree to buyouts all the time. Presumably if the Kings didn't/couldn't pay it as scheduled in the contract they would have to pay more to amortize it. The up front money is always less, so it's potentially better for Walton to spread it out over a longer period of time. It could have favorable tax implications, etc. doing so.
When it's lottery winnings, most people are better off taking the lump sum and investing on their own since they are typically middle class. When it's $11 million up front or $1 million per year for 20 years, there's a very reasonable case to take the latter.
When it's lottery winnings, most people are better off taking the lump sum and investing on their own since they are typically middle class. When it's $11 million up front or $1 million per year for 20 years, there's a very reasonable case to take the latter.
i still don’t understand what the big deal is. I feel like that added info was just put in to make things look worse than it is. Coaches contract doesn’t count against the cap, so stretching it wouldn’t matter. Also I never even heard of a coaches contract having a stretch provision. You hear coaches fired and let go all the time and never heard of stretching. Either it doesn’t exist, rarely exists, or rarely exercised. U guys are over analyzing and being over critical for no reason, which is prob what the tweet was meant to do.
And the issue is he's already shown that even if over a short period of time things are on track, he's capable of changing direction and **** canning it all in one fell swoop. This is bad all the way around. As of now this is potentially on track to next year being wasted also. Right as Bagely is on the hook for an extension and the cap is getting bogged down. That means it's very possible Monte is stuck for a few seasons then fired himself within the next few seasons and a full true rebuild begins a la when they moved Cousins. This time the Cuz might be Fox.
I respectfully disagree. While these owner equity investments may be doing good to great, the reality is a lot of them are heavily weighted into businesses that are entertainment based and the revenue has been limited or even possibly zero for the past 12 months.
It's really easy for us to say "hey on paper that guy is worth 20 Million" but if its in illiquid assets AND he had to take on debt and/or sell off funds to keep doors open they may not be able to pony up their share of the cash calls. It's already on record that Vivek had to cover some minority owners portions. We don't know if that was in the form of a loan or in an ownership reallocation.
It's really easy for us to say "hey on paper that guy is worth 20 Million" but if its in illiquid assets AND he had to take on debt and/or sell off funds to keep doors open they may not be able to pony up their share of the cash calls. It's already on record that Vivek had to cover some minority owners portions. We don't know if that was in the form of a loan or in an ownership reallocation.
Don’t worry everybody! We drafted Tyrese at 12! This late season MASSIVE WINNING CULTURE streak will let us select around there again! McNair WILL DO THIS AGAIN!
And next season Luke Walton will take this WINNING CULTURE and take us to the promised land! Guaranteed! (The promised land is missing the playoffs again and landing in the 12th spot AGAIN!)
I LOVE THE KINGS!
And next season Luke Walton will take this WINNING CULTURE and take us to the promised land! Guaranteed! (The promised land is missing the playoffs again and landing in the 12th spot AGAIN!)
I LOVE THE KINGS!
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