Initial reports of NBA Commissioner David Stern's new deal,
which put his salary at $7M a year over a five-year period, seem
to have underestimated the total value. A USA TODAY headline
refers to it as a "$40M deal," while the article itself reports
the commissioner's contract to be "worth more than $40 million."
With the extension giving Stern $7M in annual salary, the
difference would be in bonuses and incentives. 76ers Owner
Harold Katz, to Stern: "You deserve it." Stern: "I'm excited
about being part of the NBA's future. It's a very bright one.
And I appreciate that the owners think I have made contributions
and that I can continue to contribute" (Greg Boeck, USA TODAY,
2/13). Peter Vecsey cites sources who say the deal is close to
$45M (N.Y. POST, 2/13). ESPN's Gary Miller: "That's more than
Michael Jordan, Shaquille O'Neal or Charles Barkley -- easily.
It certainly blows away his peers at the head of the other
leagues. One of the keys to the jump? Stern apparently was
sought by other major corporations for their CEO posts"
("SportsCenter," 2/12).
KING COMMISH: ESPN charted the salaries of the heads of the
four major sports ("SportsCenter," 2/13):
LEAGUE COMMISSIONER SALARY/YEAR THROUGH
NBA David Stern $7M 2000
NHL Gary Bettman $2.5-3M 2003
NFL Paul Tagliabue $1.8M 2000
MLB Bud Selig $1.2M ????
UNION BUSINESS: The NBPA announced two changes in its
constitution and by-laws yesterday designed to prevent future
labor disagreements. The first provides that any CBA between
players and owners must be ratified by a majority vote of all
players. The second calls for the selection of an Exec Dir to
require a two-thirds vote of players reps and Exec Committee
members (WASHINGTON POST, 2/13).
