Archive for July 23rd, 2011

Knicks manage to avoid paying luxury tax

Marc Berman of the New York Post reports:


Give former Knicks president Donnie Walsh a pat on the back. The NBA announced yesterday its audit for the 2010-11 season is complete and, according to a person familiar with the situation, the Knicks did not pay a luxury tax for the first time since the now-expired collective bargaining agreement was reached in 1999.

According to a person debriefed on the audit, the Knicks 2010-11 payroll finished over the salary cap following the Carmelo Anthony bonanza, but finished at $67 million — $3 million less than the luxury-tax threshold.

During the Isiah Thomas and Scott Layden years, the Knicks paid a dollar-for-dollar luxury tax of $24-30 million annually, when their payroll skied above $100 million, leading to Walsh’s hiring and his massive cap-cutting. A source said the three luxury-tax victims were the Lakers, Orlando and the NBA champion Mavericks, each paying around $20 million.

Read NBA fan opinion or share your own reaction in this forum topic.

Broderick Turner of the Los Angeles Times reports:

His demeanor always has been quiet, low-key and professional, always the loyal Lakers employee for 24 years, the last 10 as the team’s assistant general manager.

Now Ronnie Lester is speaking out — and not just for himself, but also for other longtime Lakers employees who must find jobs after the team parted ways with them because of the NBA lockout.

Some were told their contracts would not be renewed and some were laid off. All told, about 20 Lakers employees are, or soon will be, looking for jobs, including some of Phil Jackson’s former coaching staff.

It was the manner in which they were let go by one of the most successful and profitable franchises in the NBA that bothered Lester.

“You think of the Lakers and you think they are a great organization,” Lester said. “But if you work inside the organization, it’s only a perception of being a great organization. It’s probably not a great organization, because great organizations don’t treat their personnel like they’ve done.”

Lester’s contract runs out at the end of this month. He said he has sold his house in Los Angeles and plans to move out of the city while he seeks another job in the NBA. Lester said he will hire an agent…

Rudy Garciduenas had been the Lakers’ equipment manager for 26 years before he was laid off.

Other Lakers employees who will be unemployed at end of the month include scouts Irving Thomas (10 years with the team), Adam Filippi (10 years), Gary Boyson (six), Gene Tormohlen (43) and Kevin Grevey (10).

Read NBA fan reaction or discuss your own opinion in this forum topic.

Richard Durrett of ESPN Dallas reports:

Jason Terry

Terry, wearing a No. 31 Rangers jersey and holding a bat signed by Josh Hamilton to be used for an auction supporting Terry’s charity, said his top offseason priority if he were running the team would be to re-sign center Tyson Chandler.

“Chandler is No. 1 for me,” Terry said. “We want to get all our guys back, but especially what Chandler has meant to this organization. It was something we hadn’t had and once we got him, you could see what it did for us. So we got to get him back.”

Terry said he’s spent his offseason with his daughters, including coaching an AAU team and stopping by the ESPY Awards last week.

Terry also spent 48 hours with the Larry O’Brien Trophy and admitted that he slept with it one night.

“At 47 (hours), (Mavs owner Mark) Cuban was in my driveway knocking on the door,” Terry said. “It was fun. That’s where it soaked in what we had accomplished — seeing my daughters and how much it meant to my family. They took tons and tons of pictures.”

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