One of the theories on why the owners were going to get the best of the players in this round of NBA labor negotiations was the old “millionaires vs. billionaires” premise. Basically, the owners have more money, the players make a lot of money but spend a lot of money. Once the players missed a paycheck, they’d cave.
Except, they are about to get a paycheck.
It was money still owed NBA players from last season, but it is a payday, as Chris Sheridan explains at Sheridanhoops.com.
The money represents the 8 percent of each player’s salary that was withheld from their paychecks last season under the NBA’s escrow tax system, which was put in place to ensure that the players received no more than 57 percent of basketball related income in the 2010-11 season.
A total of $161 million in escrow funds were withheld last season, and the league office sent a stack of more than 350 checks to the Players Association last week to begin issuing the refunds, SheridanHoops has learned.
For Kobe Bryant, that is $1.9 million. But that is also a drop in the bucket for him. Where it matters more is guys like Knicks rookie Landry Fields — he made $473,604 last season. Which is good money, but when you take out taxes and factor in the cost of living in New York, he’s not living the crazy high life of some NBA players. The check he gets for $37,888 matters. That staves off some money crunch for him.
All of which is to say if this labor negotiation goes sideways and loses its apparent current momentum, both sides can hold out for a while. Which means only we fans lose.
On Monday, Dion Waiters agreed to a one-year, $2.9 million deal with the Heat, far less than most people thought he would get as one of the few significant free agents still on the market. Tuesday afternoon, he posted an explanation on Instagram for his deal.
Here’s what he said:
I didn’t do it for the money… I did it for the opportunity to go out & ball & have fun. Everything else will take care of its self!!! I just felt like it was the best situation for me…& my family. I could have waited & got wat I wanted. But I rather be happy then miserable at the end of the day!!! Meaning Yu can have everything & still not be happy… #heatnation let’s get it!!! #provethemwrong #stamped #Philly
It seems clear, based on the market, that the kinds of offers Waiters was hoping for weren’t out there for him. In Miami, with Dwyane Wade gone, he’ll probably start at shooting guard and have plenty of opportunities to prove himself in hopes of landing a long-term deal next summer.
While we wait for the Celtics to make a bigger move to trade for another star, they’re filling out the end of their roster. Sheridan Hoops’ Michael Scotto is reporting that they’ve signed Demetrius Jackson, the No. 45 pick in last month’s draft, to a four-year deal.
Jackson declared for the draft after his junior season at Notre Dame. Talent-wise, he has the chance to be a major steal for Boston — DraftExpress has him ranked as the 17th-best overall prospect in this year’s draft class. But he might not play much his first year. The Celtics’ roster is already crowded and there’s still the chance that they’ll make another move with some of their much-vaunted assets if the right star becomes available.
ATLANTA (AP) — The Atlanta Hawks have signed undrafted rookie free agent center Matt Costello of Michigan State.
The 6-foot-9, 245-pound Costello averaged 5.7 points and 5 rebounds on the Hawks’ summer league team in Las Vegas.
Costello averaged 10.7 points and 8.2 rebounds as a senior at Michigan State. He holds the school’s career record with 146 blocked shots.
Terms of the deal were not released.
Jamal Crawford knows how to get buckets.
He does it against NBA level defenders, so put him in a free-flowing pro-am — let’s say the Seattle pro-am in his hometown — and he barely breaks a sweat dropping 44. And nailing the game winner.
Doc Rivers hopes to see a lot of that next season.