PDA

View Full Version : Rubio Sues Spanish Team



MillerTime
06-10-2009, 11:49 AM
On Tuesday, according to the Spanish news agency EFE, Ricky Rubio sued DKV Joventut after learning that it had transferred the rights to his buyout to Hacienda, the Spanish version of the Internal Revenue Service.

The rights were sold to satisfy a debt Joventut had with Hacienda.

Leopoldo Hinjos, Rubio's lawyer, claims that the team did not inform his client that his rights were about to be ceded to a third party. The team says that representatives of Hacienda went to Joventut's offices and demanded a guarantee to cover the outstanding debt.

Rubio has challenged the 4.75 million Euro (approximately $6.6 million) buyout, which climbs to 5.75 million Euros after June 30. Rubio made 70,000 Euros last season (about $97,000) and is scheduled to make 125,000 Euros next season (about $175,000). Rubio's father Esteban told ESPN's Chad Nielsen on Monday that the buyout is disproportionate to his salary.
ESPN
http://sports.espn.go.com/nba/news/story?id=4246467

Major Cold
06-10-2009, 11:54 AM
But they signed the contract. Any chance Rubio plays for this team now? He will be in the NBA next season.

count55
06-10-2009, 12:13 PM
This was on DX on Monday


Plenty of chatter about the Ricky Rubio situation, with the most interesting commentary coming from the many members of the Spanish basketball industry, which are out here in full force. The news this morning about a lawsuit being planned by Rubio’s camp is apparently very true, and there was plenty of spirited discussion regarding whether his exorbitant buyout relative to his proportional contract will hold up in a Spanish court.

Some cited the fact that similar cases in soccer (for example in England) had sided in favor of the players in the past, while others mentioned that Rubio’s willing acceptance of a large pay raise a few months back had nullified his ability to dispute the validity of the deal. The main questions here are—how long will such a case take to play out? How much does Joventut need the money for this upcoming season? And how much will the negative publicity from such a bombastic story hurt them down the road in terms of signing young players? Can all this be resolved in satisfactory fashion in time for the draft? This move likely ends any chance Rubio has of pulling his name out of the draft, as the damage caused by such a lawsuit would likely be too great of a rift to heal this upcoming summer.

http://www.draftexpress.com/article/Reebok-Eurocamp-Day-Two-3251/

I think Rubio had pretty much committed, anyway. They're just looking to see if they can reduce the buyout.

Naptown_Seth
06-10-2009, 12:35 PM
The rights were sold to satisfy a debt Joventut had with (Spanish IRS).
Errr, what? They paid their tax bill with a non-liquid asset?? Is this normal outside of full-on debt collection where the IRS starts taking your stuff, and even then they sell it/liquidize it and often at a reduced value in order to put against your balance.

I'm going to try this next year. I'm going to mail the IRL some Pacers tix as payment. Before the game obviously, giving them the option to use them or sell them for face value. Maybe I'll throw in some lottery tickets too, and perhaps a few IOU's from my friends, and my land rights on the moon that I bought.

They might owe me by the time I'm done. :D


Rubio has challenged the 4.75 million Euro (approximately $6.6 million) buyout, which climbs to 5.75 million Euros after June 30. Rubio made 70,000 Euros last season (about $97,000) and is scheduled to make 125,000 Euros next season (about $175,000). Rubio's father Esteban told ESPN's Chad Nielsen on Monday that the buyout is disproportionate to his salary.
Ya think? ;)
Sheesh, I thought it was expensive to end your mobile phone contract early.

count55
06-10-2009, 12:46 PM
I guess it would be closer to factoring a receivable. Hacienda felt that it had value, because it seemed that the likelihood of Rubio buying out his contract was pretty high.

LoneGranger33
06-10-2009, 01:17 PM
What's the likelihood of Hacienda fielding a team next season?