Tim Duncan took less money for his next extention contract

[SpursIndonesia]

He's just an incredible player & sportsman. 11 mil US$ is certainly not a small amount of dough to be left on table.

It's all about winning, and thankfully not just some sweet talking. Put your money where's its worth.

Duncan will take less than maximum salary
By Johnny Ludden, Yahoo! Sports
October 29, 2007

With NBA commissioner David Stern set to present Tim Duncan his fourth championship ring on Tuesday, the Spurs forward has made it clear he has no plans to leave the court – or San Antonio – anytime soon.

Duncan has reached agreement with the Spurs on a two-year, $40 million extension that figures to give the team enough salary-cap flexibility to continue to surround him with a competitive supporting cast in the waning seasons of his career, two sources with knowledge of the deal said Monday.

By signing the extension, which is expected to be finalized within the next few days, Duncan forfeits his option to become a free agent after this season. He will now be under contract with the Spurs until the summer of 2012.

The extension hardly comes as a surprise. Duncan, 31, said prior to last season’s NBA Finals he felt as healthy as he’s been in years and hoped to continue playing “as long as I can.”

But what is notable about the deal are the terms: Though Duncan is eligible to receive a two-year extension worth about $51 million under the NBA’s collective bargaining agreement, he agreed to nearly $11 million less because it could potentially afford the Spurs greater flexibility to pursue free agents after the 2009-10 season.

Duncan and his agent, Lon Babby, met with Spurs coach Gregg Popovich and general manager R.C. Buford at Popovich’s house prior to the start of training camp. Well aware of Duncan’s value to franchise – the Spurs likely would not be in San Antonio had he not guided them to their first title in 1999 – Popovich and Buford presented him with a maximum offer during the meeting. But they also made a detailed presentation of their plans for the team’s long-term future and showed Duncan the possible impact of his accepting a lesser extension.

After a few weeks of deliberation, Duncan agreed to the $40 million extension. He will make $22.2 million in the final year of his current contract, with his salary dropping to about $18.7 million in the first year of the extension.

Duncan will be 34 when the extension begins. Tony Parker is the only other player currently scheduled to be under contract following the 2009-10 season, but the Spurs also will be in position to re-sign their third star, Manu Ginobili, that summer if they want.

The Spurs also are expected to eventually extend Popovich’s contract to coincide with that of Duncan.

http://sports.yahoo.com/nba/news;_ylt=An..KnWd5pjy40xSGjPPnKA5nYcB?slug=jy-tim102907&prov=yhoo&type=lgns

 

[Warhawk]

The Spurs also are expected to eventually extend Popovich’s contract to coincide with that of Duncan.

Pop's no fool. Might not want to hang around after Duncan is gone.

 

[Evenstar]

why can't all athletes be this unselfish?????

 

[Bricklayer]

Guys, it is nice and all, but Shaq did the same thing a couple of years ago, and I ain't nominating Shaq as any great sportsman. Think there just comes a time that when you are a major winner, with a gadzillion $$ already in the bank, where such a "sacrifice" to keep your team together is almost expected. In both cases (Shaq and Duncan) they still ended up with only $20mil a year.

 

[supamari0]

San Antonio just manages their cap space really well.

But yeah dont take too much away from this. Either way, nice job SA

 

[SpursIndonesia]

@Bricklayer, do you think that both of their circumstances are the same ? I mean, the Spurs did first offer Tim the max allowable contract. On Shaq case, did Miami first offered him the Max, then he actually turned that down and accepted less for the betterment of the team ?

I always thought that Shaq had to accept the offer available on the table, since he already practically said goodbye to his former team by demanding the trade in the first place. That the current Miami contract is a fair assessment of his value in the first place, not some sort of noble act in helping the team, in that summer 2004. Dunno ?

 

[VF21]

I think Duncan knows he has a good thing going and doesn't have to chase the extra $$. He's a lot like Reggie Miller in that regard and I, for one, am glad to see him stay with the Spurs. And, isn't he in truth simply continuing the tradition started by David Robinson, who also agreed to a smaller salary for the good of the team?

 

[TheFifthMookie]

This is a class move by the spurs and Duncan. That said, look at this from what I think Duncan's perspective is:

Duncan has 100 million $ in the bank. He is on a winning team with opportunities for multiple championships in the next 2-4 years, potentially cementing a legacy as an NBA all-time great.

Option A:
Accept the 51 million extension. This causes your team to lose key players, and likely, the ability to compete on a championship level after this year.

Option B:
Accept the 40 million extension (11 mil less). This allows the team to remain intact and to pursue the legacy, at a loss of 7% of his total net worth (11 of 150 mil)

Compare this to a normal life situation- you can make 50k and for the next few years, you can work on something rewarding, or you can make 54k (7% more), and work on stuff that's not important. I think it's pretty easy to make the right choice.

The fact that this is a big deal speaks volumes to the universal low opinion we share of athletes decision making abilities.

 

[Mr. S£im Citrus]

Compare this to a normal life situation- you can make 50k and for the next few years, you can work on something rewarding, or you can make 54k (7% more), and work on stuff that's not important...

Define "rewarding."

I personally don't "define" myself by my job so much as by what my income gives me the freedom to do... Of course, I'm also the type of cat for which "job satisfaction" is a null statement; there is no such thing, in my opinion. If I could find somebody to pay me what I make now to sit on my couch naked eating cheetos (credit to Ron White), I'd be all over that. AFAIC, there's no such thing as a "rewarding" job.

That said, I understand the gist of what you're driving at, though; I just don't particularly agree with your assessment of why he made that decision.

 

[SpursIndonesia]

In all honesty, perhaps TD understand himself that he just might not be an MVP TD at the age of 35 & 36, thus sacrificing some money for a better chance of getting championship is simply a calculated decision based on his ultimate burning passion for winning.

Though i must say he's more of Kareem or K Malone school rather than Shaq or DRob school, his skills might give him a lending hand while his physique & athleticism is in decline. While he might not as chiseled as Malone, or as quick as Kareem -yes, IMHO Kareem was a nature freak for a 7'2" guy having such agility, quickness, and coordination, TD was a good athlete before he is a BBall player, with such a promising prospect as a world level swimmer in his teen age, before circumstances put him into what he is right now.

 

[Mr. S£im Citrus]

Though i must say he's more of Kareem or K Malone school rather than Shaq or DRob school, his skills might give him a lending hand while his physique & athleticism is in decline. While he might not as chiseled as Malone, or as quick as Kareem -yes, IMHO Kareem was a nature freak for a 7'2" guy having such agility, quickness, and coordination, TD was a good athlete before he is a BBall player, with such a promising prospect as a world level swimmer in his teen age, before circumstances put him into what he is right now.

Uhm... yeah, we know; we all saw him.

The average age of most of the prominent posters on this board is probably 36-39, SpursIndonesia; I assure you that most of us can remember seeing him play, if not actually during his prime.

 

[kennadog]

Compare this to a normal life situation- you can make 50k and for the next few years, you can work on something rewarding, or you can make 54k (7% more), and work on stuff that's not important. I think it's pretty easy to make the right choice.

The fact that this is a big deal speaks volumes to the universal low opinion we share of athletes decision making abilities.

I have actually had to make that decision. Go for a more intrinsically "rewarding" job for less money or stay with the higher pay. No brainer decision for me. At the time, I needed the higher pay and certain benefits in order to continue providing for what I felt were my child's and elderly mother's needs. That was my "reward." So the "right" choice isn't always the same for everyone.

As to a low opinion of athletes....maybe it's because there have been too many examples of atheletes chasing the money without regard to team loyalty or the good of the team.

 

[kennadog]

Uhm... yeah, we know; we all saw him.

The average age of most of the prominent posters on this board is probably 36-39, SpursIndonesia; I assure you that most of us can remember seeing him play, if not actually during his prime.

Ummm....I watched Lew Alcindor when he played at UCLA. (Yes, I'm old.)

 

[TheFifthMookie]

While us non-millionaires, or even borderline NBA guys without tons of bucks in the bank might choose every scrap of cash we can get, Tim Duncan has the luxury of making the less cash decision.

Some work can be personally rewarding. Ask some people who work with children, or people who feel they make a real positive difference, some teachers and non-profit agency employees will fall into this category.

 

[SpursIndonesia]

Ha ha, don't take it as a patronizing act, totally not my intention -i knew the level of maturity & BBall knowledge in this forum is quite high. I just tried to broaden & explain my thought more thoroughly -perhaps to broad & thorough to be precise, LOL.

Oh, i'm 30 yrs old by the way, but i got some Boston vs Lakers '80s championship duels in DVDs, and i just love them. Moreso than the 90's Bulls, while only one team dominated.

 

[SpursIndonesia]

Well, perhaps the fact that TD doesn't have to pay so many child & spouse support funds -Shawn Kemp, hellooo ?- or funding an expensive hobby like cars collection or gambling here & there, he has the exact luxury to make that kinda sacrifice.

 

[y2kings]

Realisticaly what's probably going to happen is that Duncan's promised that money. They'll probably sign him a contract after the extension so that when he's 35, 36...he may not worth 11 million a year but they'll give him like 3 years, 33 million or something. He could retire and he'll still have that money. He's no fool. What does winning mean when you've already won that much already? Anyone who says no to 20 million is a fool. Duncan is NO fool...he's promised that money, he'll just make it later, sign a contract...play if he wants and retire. He'll stilll see that money though.

 

[Mr. S£im Citrus]

Realisticaly what's probably going to happen is that Duncan's promised that money. They'll probably sign him a contract after the extension so that when he's 35, 36...he may not worth 11 million a year but they'll give him like 3 years, 33 million or something. He could retire and he'll still have that money. He's no fool. What does winning mean when you've already won that much already? Anyone who says no to 20 million is a fool. Duncan is NO fool...he's promised that money, he'll just make it later, sign a contract...play if he wants and retire. He'll stilll see that money though.

The great ones never get tired of winning.

 

[SpursIndonesia]

Well, if TD could imitate Kareem or Malone career longetivity & effectiveness, i think a 37-39 yrs old Duncan might as well be worth it that supposed wink-wink career ending contract.

@Mr. Slim C, yeah, i think Bill Russell might inspire TD somehow someway about the meaning of winning.

 

[mcsluggo]

Define "rewarding."

I personally don't "define" myself by my job so much as by what my income gives me the freedom to do... Of course, I'm also the type of cat for which "job satisfaction" is a null statement; there is no such thing, in my opinion. If I could find somebody to pay me what I make now to sit on my couch naked eating cheetos (credit to Ron White), I'd be all over that. AFAIC, there's no such thing as a "rewarding" job.

That said, I understand the gist of what you're driving at, though; I just don't particularly agree with your assessment of why he made that decision.

I am with you, Slim!

I spent the first thirty-odd years of my life actively avoiding being plunged into the workforce. THAT is how I ended up with a PhD, active work avoidance while simultaneusly striving to make my parents <and the world at large> happy that even though I was not working, I was somehow bettering myself and lookng forward to the future. Well, EVENTUALLY i got cut off from that avenue (until somebody invents an even HIGHER degree... at which point I'LL JUMP ON THAT!).

Now I have a job that is arguably optimal... I am fairly well paid, it is interesting work, AND I am actively involved in making the world a better place (I am a development economist, and my job is essentially to work to try to channel private sector investments into poor countries)... and yet.... I fritter away gobs of intelectual capital and time scheming about how soon I'll be able to retire (after having REALLY been in the work force for about 4 years!). If I could do it, I'd jump on the naked cheetos plan in a fraction of a heartbeat!!!!

AND...... I might be able to actually make it work too!!! if it wasn't that fateful decision to have kids... who knew that the greedy little munchkins would expect me to clothe and feed them... EVERY DAY. >>>>>> And that the expected cost of sending a child to a private college in 16 years is actually about $100k a year (for the record, I have 3 girls... and I was (obviously) a personal supporter of the 5-year plan .... using ALL of my toes and fingers I get 5 x 3 x $100,000 = no early retirement for lazy bafoons such as myself


(On a side note.... I have recently taken down ALL of the Princeton and Stanford pennants that had been floating around my girls rooms... and replaced them with William and Mary, UVA and VA-Tech varients (some of the VA state schools).... although the expected all-in cost at PUBLIC schools is gonna be about $50k a year, if current trends continue.)


If I could get someone to "stiff me" by only paying me $20 mil for my job next year.... I can guarantee that ALL drive would immediatly bleed out of my body and I would immediately transform from Tim Duncan to Billy Owens... my fans might come to despise me, but my couch and cheetos would truly feel my love.

 

[Mr. S£im Citrus]

....


And Doc wins the thread.

 

[kennadog]

....


And Doc wins the thread.

No kidding.

Hey McSluggo, my now elderly uncle was an economist working in the area of third world development. He most definitely has had a long and very comfortable retirement. On the downside, he was in the workforce for a long time, but got to travel and live overseas a lot.

 

[mcsluggo]

Yeah, like I said.... its the general CONCEPT of work that sucks. As far as work goes, my job is downright good........... but it still by no meand can possibly hope to hold a candle to NO-work!

(and slim... I thought my post might resonate with you, we are clearly of like mind here!)

 

[GoGoGadget]

I'm a 29-year-old, retired, bohemian, second-time college student.

And loving the hell out of it.






No real point here. Just braggin'.

 

[kennadog]

I'm a 29-year-old, retired, bohemian, second-time college student.

And loving the hell out of it.






No real point here. Just braggin'.

to you and my younger brother who has been retired for two years already. Of course, he didn't have to spend any money on a kid, like I did. Well....I guess technically I didn't HAVE to spend any money on my kid.

 

[kupman]

Just a different perspective here:

I work in a profession where I get to meet many people who have retired and I have concluded that retirement, pretty much at any age, is not all that great. I mean, it is cool to eat the cheetos naked on the couch for a few months, but it actually gets old very quick. People have a need to be needed and a rewarding job (yes, I do believe in such a thing) can be a great way to be needed.

I have even met some young people who unexpectedly became very rich, very quickly and started on the whole cheetos lifestyle. They all quickly found themselves to be unhappy and unfulfilled and remedied their situation by going back to work.

 

[kennadog]

Just a different perspective here:

I work in a profession where I get to meet many people who have retired and I have concluded that retirement, pretty much at any age, is not all that great. I mean, it is cool to eat the cheetos naked on the couch for a few months, but it actually gets old very quick. People have a need to be needed and a rewarding job (yes, I do believe in such a thing) can be a great way to be needed.

I have even met some young people who unexpectedly became very rich, very quickly and started on the whole cheetos lifestyle. They all quickly found themselves to be unhappy and unfulfilled and remedied their situation by going back to work.

People do need to feel useful and connected to thrive. That does not mean it has to be at a "job." The important thing is to figure out what you are going to spend time doing. For me...travel, friends, family, hobbies and more are all on my list. (Not necessarily in that order ) What I do like is that if I want to work, it will be at something rewarding, because it won't have to pay well or at all (volunteer).

On the other hand, I could probably devote some serious time to the "couch and cheetos mode," and I'd be fine.

 

[Kingzrool]

Hey, maybe it will become a trend.

link

Al Jefferson could have waited until next summer to sign a contract extension with the Minnisota Timberwolves.

In fact, that was what his agent advised him to do, hoping that a big season and his status as a restricted free agent would have brought the 22-year-old power forward the highest contract allowable under league rules.

Jefferson ignored that advice and signed a five-year, $65 million deal just before the deadline Wednesday night. In the era of "Show me the money!" and "bling bling," Jefferson's reason was stunningly humble.


"I didn't even think I was worth max (money) this year anyway," Jefferson said at a press conference on Thursday. "I would've been a fool to go up there and ask for max, having not really proved myself for that. So the number I got was the number that was my goal from Day 1. And I think it was a win, win situation."

At an average salary of $13 million per season that starts next year, Jefferson certainly won't be starving. But Timberwolves vice president of basketball operations Kevin McHale said that had Jefferson signed a max deal, he would have been entitled to 25 percent of Minnesota's salary cap. Depending on where the cap is set in each of the next six years, Jefferson likely would have made more than $15 million per season.

 

[VF21]

I am with you, Slim!

I spent the first thirty-odd years of my life actively avoiding being plunged into the workforce. THAT is how I ended up with a PhD, active work avoidance while simultaneusly striving to make my parents <and the world at large> happy that even though I was not working, I was somehow bettering myself and lookng forward to the future. Well, EVENTUALLY i got cut off from that avenue (until somebody invents an even HIGHER degree... at which point I'LL JUMP ON THAT!).

Now I have a job that is arguably optimal... I am fairly well paid, it is interesting work, AND I am actively involved in making the world a better place (I am a development economist, and my job is essentially to work to try to channel private sector investments into poor countries)... and yet.... I fritter away gobs of intelectual capital and time scheming about how soon I'll be able to retire (after having REALLY been in the work force for about 4 years!). If I could do it, I'd jump on the naked cheetos plan in a fraction of a heartbeat!!!!

AND...... I might be able to actually make it work too!!! if it wasn't that fateful decision to have kids... who knew that the greedy little munchkins would expect me to clothe and feed them... EVERY DAY. >>>>>> And that the expected cost of sending a child to a private college in 16 years is actually about $100k a year (for the record, I have 3 girls... and I was (obviously) a personal supporter of the 5-year plan .... using ALL of my toes and fingers I get 5 x 3 x $100,000 = no early retirement for lazy bafoons such as myself


(On a side note.... I have recently taken down ALL of the Princeton and Stanford pennants that had been floating around my girls rooms... and replaced them with William and Mary, UVA and VA-Tech varients (some of the VA state schools).... although the expected all-in cost at PUBLIC schools is gonna be about $50k a year, if current trends continue.)


If I could get someone to "stiff me" by only paying me $20 mil for my job next year.... I can guarantee that ALL drive would immediatly bleed out of my body and I would immediately transform from Tim Duncan to Billy Owens... my fans might come to despise me, but my couch and cheetos would truly feel my love.

If we ever decide to hold an award contest for best posts of the year (perhaps call it the "Goldie" after that incredible piece of statuary in front of ARCO?) then this post definitely has to be nominated!