Wizards fire president Ernie Grunfeld

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Wizards owner Ted Leonsis said his goal for this season was winning 50 games and making the conference finals.

Washington is 32-46 and eliminated from the playoff race.

So, it’s time for consequences.

Wizards release:

Chairman and CEO of Monumental Sports & Entertainment Ted Leonsis announced today that Ernie Grunfeld has been relieved of his duties as president of the Washington Wizards.

“We did not meet our stated goals of qualifying for the playoffs this season and, despite playing with injuries to several key players, we have a culture of accountability and a responsibility of managing to positive outcomes,” said Leonsis. “I wish to thank Ernie for his service to the Washington Wizards. He and his family have been great leaders in our community and have worked tirelessly to make us a top NBA franchise.”

Senior Vice President of Basketball Operations Tommy Sheppard will report to Leonsis on all basketball matters beginning immediately. The team will begin a search for a new head of basketball operations (which will include Sheppard as a candidate) upon conclusion of the season.

Grunfeld had unusual job security given his pedestrian record. He ran the Wizards 16 seasons in which they went 568-724, made the playoffs only half the time and never advanced past the second round. Yet, Leonsis kept giving him secret contract extensions. Leonsis even gave Grunfeld an A grade for last offseason.

But the owner finally had enough.

Fans in Washington certainly had long ago.

Now, whoever succeeds Grunfeld must dig the Wizards out of their hole. John Wall, who’s guaranteed a projected $171 million over the next four years and seriously injured, has arguably the NBA’s worst contract. Ian Mahinmi‘s $15,450,051 salary next season is a burden. Even Dwight Howard‘s $5,603,850 player option looks like a liability. Washington has only one young player – Troy Brown Jr. – under contract beyond this season.

The bright spot: Bradley Beal, who’s locked up two more years. He’s incredibly valuable. Washington could build around him or trade him to get a head start on rebuilding.

But if he makes an All-NBA team this season, he’ll be eligible for a super-max contract extension this offseason that projects to be worth $199 million over four years. As Wall shows, those large deals carry major downside risk for teams, even when the player looks pretty good.

The next front-office leader must also navigate ahead with an owner who claimed he’d never tank. Maybe that’s just something Leonsis said. But it also might be a real mandate.

Leonsis has also shown reluctance to pay the luxury tax (which is why talented Otto Porter is gone). Another constraint.

Of course, Leonsis also just kept Ernie Grunfeld 16 years. The lure of that job security should draw candidates.