The Knicks Paid Larry Brown $18.5 Million To Go Away
November, 9, 2006
Howard Beck reports that Brown got only a fraction of the $53 million he was seeking. The tally comes from Cablevision's financials:
After dismissing Brown, Dolan said he was fired “for cause” and detailed a long list of grievances that he said constituted a breach of contract. Among the allegations were that Brown undermined the team’s president, Isiah Thomas, by trying to negotiate trades and that Brown violated team rules about dealing with the news media.UPDATE: Perhaps Brown is getting more! Check out the following comment (from below) from Andy:
Based on the fraction of the contract that Brown received in the settlement, it appears that the Knicks had a strong case when it went to Stern for arbitration hearings on Sept. 29 and Oct. 3.
The $18.5M figure comes from Cablevision's 10-Q quarterly financial report which states under the heading "Note 16 Legal Matters: Contract Disputes," the company states that "on October 30, 2006, the parties reached a settlement of this matter under which the Knicks agreed to pay Mr. Brown $18,500,000 of the disputed amount."I wondered that very same thing, and was dissuaded from posing that very question by the way Howard Beck wrote the article--which seemed to really make clear the notion that this deal was done. More information to follow, I'm certain.
An attorney friend of mine who work for an NBA team believes that there is more to the story than just the $18.5M buyout. He speculates that the $18.5 was the amount Brown was paid in the last quarter and that he may be owed more money, depending on whether he earns money coaching at any point during the next four years.
My friend also points to Brown's attorney Joe Glass's comment that "There's more to things than meet the eye and that's all I'm going to say" as an indication that the Knicks could end up paying Brown more than the $18.5M at some point in the future.