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Thread: David Stern takes a pay cut

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    RLeWorm
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    Default David Stern takes a pay cut

    Sources: David Stern will not get salary
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    By Marc Stein
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    NBA commissioner David Stern will not collect on his eight-figure salary during the ongoing lockout, according to sources with knowledge of Stern's pay status.

    Amid growing tensions on both sides of a labor impasse that has lasted 33 days, with owners proposing sharp cuts in salary and contract lengths, and with no end in sight to the stalemate, Philadelphia 76ers center Spencer Hawes this week publicly questioned via Twitter why there have been "no rumblings about a pay cut for (Stern) while he asks every single player to do so."

    Stern has given no indication that he will agree to lower his salary when the sides ultimately do hammer out a new labor agreement that is expected to be far more restrictive for players. Yet sources confirmed Tuesday that, during the work stoppage, Stern will indeed pass on collecting a salary that, based on a New York Daily News report in February, has been estimated as high as $23 million annually.

    Although he has not publicly addressed the matter since the lockout commenced July 1, Stern said during All-Star Weekend in Los Angeles that he would not be paid.

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    Responding to a question at the time about whether he would drop his salary to $1 as NFL commissioner Roger Goodell did during the NFL's lockout, Stern said: "Well, I would say that last time (during the NBA's 1998-99 lockout) I didn't take a salary. I think a dollar would be too high in the event of a work stoppage."

    Stern's exact yearly salary is not known, but three sources consulted this week by ESPN.com all put it at $15-to-16 million.

    One source said Tuesday, according to information he received from one team in the Eastern Conference and one team in the West, that the commissioner earns $500,000 per franchise annually. That would compute to $15 million per season before bonuses are added.

    Twenty-one NBA players are scheduled to earn at least $15 million during the 2011-12 season, from Kobe Bryant's $25,244,000 with the Los Angeles Lakers to Rudy Gay's $15,032,144 with the Memphis Grizzlies. Four players are contracted to make at least $20 million: Bryant, Washington's Rashard Lewis, San Antonio's Tim Duncan and Boston's Kevin Garnett.

    Marc Stein covers the NBA for ESPN.com.

    Billy Hunter.....your turn
    Last edited by RLeWorm; 08-03-2011 at 10:17 AM.

  2. #2
    Wasting Light Hicks's Avatar
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    Default Re: David Stern takes a pay cut

    I cannot fathom making $15m a year.

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    Default Re: David Stern takes a pay cut

    Quote Originally Posted by Hicks View Post
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    I cannot fathom making $15m a year.
    I can't either but I sure would love it.
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    HE HIT! HE HIT! HE HIT! glazedham42's Avatar
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    Default Re: David Stern takes a pay cut

    Stern's doing this as a bargaining chip with the players. Unfortunately, he's not as subtle as he thinks he is. He wants it to look like he's doing it for the good of the game, but we all know it's so he can blame the players. "C'mon, I took a pay cut, why won't you?"

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    Default Re: David Stern takes a pay cut


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    Default Re: David Stern takes a pay cut

    I can't read any discussion through this thick cloud of hyperbole before my eyes.
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    Default Re: David Stern takes a pay cut

    now if he would just take the next step and resign, worst commissioner in sports

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    Default Re: David Stern takes a pay cut

    So he cut his salary to a whole 15 million dollars?

    Call me when he follows Roger Goodell's example and cuts it to $1 for the duration of the lockout.

    That goes for Hunter too! DeMaurice Smith did the same thing as Goodell with his salary, and don't forget Shane Battier already called Hunter out on it at least once and Billy ran away from the question!

    Related note:
    ChrisKaman Chris Kaman
    If the players have to take a pay cut, I don't know why Mr. David Stern can't take one from his over $20mill. a year paycheck!
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    Last edited by Sandman21; 08-03-2011 at 03:40 PM.
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    Default Re: David Stern takes a pay cut

    Quote Originally Posted by Sandman21 View Post
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    So he cut his salary to a whole 15 million dollars?

    Call me when he follows Roger Goodell's example and cuts it to $1 for the duration of the lockout.
    No, the article says he won't collect it at all. Probably he'll collect 1$ or 1 cent or whatever for legal reasons.

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    Default Re: David Stern takes a pay cut

    Quote Originally Posted by ballism View Post
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    No, the article says he won't collect it at all. Probably he'll collect 1$ or 1 cent or whatever for legal reasons.
    I'll believe that when I see it. The man is a lawyer at heart after all.
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    Default Re: David Stern takes a pay cut

    A little off topic, but I figured it should be noted, relative to his employees Stern makes very little compared to most CEO's.

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    Default Re: David Stern takes a pay cut

    Quote Originally Posted by Eleazar View Post
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    A little off topic, but I figured it should be noted, relative to his employees Stern makes very little compared to most CEO's.
    I was thinking the same thing. Some employee make more than the person who's overseeing the whole thing. How does that happen???

    I don't care...I'm siding with the Owners on this dispute. If the owners didn't have other business ventures, they would be struggling to make ends meet while their employees are getting paid. No one sees anything wrong with this picture?

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    Default Re: David Stern takes a pay cut

    Quote Originally Posted by ksuttonjr76 View Post
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    I don't care...I'm siding with the Owners on this dispute. If the owners didn't have other business ventures, they would be struggling to make ends meet while their employees are getting paid. No one sees anything wrong with this picture?
    Paul Allen? Mark Cuban? Michael Jordan? I'm pretty sure they could all go without a paycheck ever again and their families would still be fine for 10 generations from now.

    If you make $3,000/month, then if you earn this amount for 60 years, you've made $2,160,000 total.

    Paul Allen's fortune is estimated to be 11 billion dollars. Herbert Simon's is estimated to be 1.1 billion dollars: that's 30,555 years at $36,000/year.

    Let's stop acting like the owners are struggling financially: they'd be fine even if they stopped making money today.
    Last edited by Pingu; 08-03-2011 at 08:23 PM.

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    Default Re: David Stern takes a pay cut

    Quote Originally Posted by ksuttonjr76 View Post
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    don't care...I'm siding with the Owners on this dispute. If the owners didn't have other business ventures, they would be struggling to make ends meet while their employees are getting paid. No one sees anything wrong with this picture?

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    Default Re: David Stern takes a pay cut

    Quote Originally Posted by Pingu View Post
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    Paul Allen? Mark Cuban? Michael Jordan? I'm pretty sure they could all go without a paycheck ever again and their families would still be fine for 10 generations from now.

    If you make $3,000/month, then if you earn this amount for 60 years, you've made $2,160,000 total.

    Paul Allen's fortune is estimated to be 11 billion dollars. Herbert Simon's is estimated to be 1.1 billion dollars: that's 30,555 years at $36,000/year.

    Let's stop acting like the owners are struggling financially: they'd be fine even if they stopped making money today.
    I think you've missed the first part of that sentence.

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    Default Re: David Stern takes a pay cut

    Quote Originally Posted by ballism View Post
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    I think you've missed the first part of that sentence.
    What I meant to say is that you could take away all of their sources of revenue outside of their NBA teams (so their business ventures), and they would still be incredibly well off, given the wealth they have accumulated so far.

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    Default Re: David Stern takes a pay cut

    Quote Originally Posted by Pingu View Post
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    What I meant to say is that you could take away all of their sources of revenue outside of their NBA teams (so their business ventures), and they would still be incredibly well off, given the wealth they have accumulated so far.
    Many of the owners never would have accumulated that wealth if it wasn't for their other businesses. The point is no business can be successful if your employees are making more money than you have in income, and an NBA franchise is a business. If it wasn't for these other businesses supporting most of these teams this would be a league consisting of about 4 or 5 teams because the rest went out of business.

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    Default Re: David Stern takes a pay cut

    Quote Originally Posted by Eleazar View Post
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    A little off topic, but I figured it should be noted, relative to his employees Stern makes very little compared to most CEO's.
    But he's not a CEO......

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    Default Re: David Stern takes a pay cut


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    Default Re: David Stern takes a pay cut

    Quote Originally Posted by Hicks View Post
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    I cannot fathom making $15m a year.
    It's easy. Take what you make now and add $15m.
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    Default Re: David Stern takes a pay cut

    Quote Originally Posted by Day-V View Post
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    But he's not a CEO......
    Commissioner in a sports league is equivalent to a CEO. It is just a different name for the same position. Kind of like how some companies call the head man/woman president instead of CEO.

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    Default Re: David Stern takes a pay cut

    Quote Originally Posted by Eleazar View Post
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    A little off topic, but I figured it should be noted, relative to his employees Stern makes very little compared to most CEO's.
    MOST CEO's? Most CEO's don't make that kind of money. What planet are you getting your facts from?

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    Since 1984 1984's Avatar
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    Default Re: David Stern takes a pay cut

    Also, you are confused about the differences between a president and CEO, you need to stop and do some research.

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    Default Re: David Stern takes a pay cut

    Quote Originally Posted by 1984 View Post
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    MOST CEO's? Most CEO's don't make that kind of money. What planet are you getting your facts from?
    You skipped a pretty important word....relative.


    Stern's salary RELATIVE to his employee's isn't that high. The average NBA player is making almost $5mil. Stern is making $15mil. So that's a 1:3 ratio.

    The median income in this country is somewhere around $40,000. Most CEO's are making a lot more than $120,000.

    That's what he's saying. Not comparing CEO's to Stern dollar for dollar.

    Quote Originally Posted by 1984 View Post
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    Also, you are confused about the differences between a president and CEO, you need to stop and do some research.
    Many companies combine the two titles. Here is one example.
    http://www.ctia.org/aboutctia/president/
    Last edited by Since86; 08-04-2011 at 10:11 AM.

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    Default Re: David Stern takes a pay cut

    Quote Originally Posted by 1984 View Post
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    MOST CEO's? Most CEO's don't make that kind of money. What planet are you getting your facts from?
    Uhhh...Earth?

    At a time most employees can barely remember their last substantial raise, median CEO pay jumped 27% in 2010, a USA TODAY analysis of data from GovernanceMetrics International found. Workers in private industry, meanwhile, saw their compensation grow just 2.1%in the 12 months ended December 2010, says the Bureau of Labor Statistics.

    Median CEO pay last year was $9 million, the highest since 2007. The median CEO bonus was $2.2 million. Family wealth, meanwhile, is currently down $12.8 trillion from its 2007 peak.

    (Source: thinkprogress.org)


    ***

    And the thing is, this article doesn't even paint the whole picture. Since 1979 the American factory worker has seen his median hourly wage increase by 3% while the average Fortune 500 CEO has seen his salary increase by nearly 400%. Why do politicians try incite class warfare? Because the lower and middle class have a right to be p*ssed off.
    Last edited by Reginald; 08-04-2011 at 10:31 AM.
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