The NBA's current pension system and efforts to change it
are examined by the BOSTON GLOBE's Bob Ryan. He writes there is
a "handsome pension arrangement" for players who played after
'65, and a "grudging 'gift' financial arrangement" for players
who predate '65. For example, when John Havlicek turns 62 in
2002, he will draw a $100,000 annual pension, which his wife
would get if he passes away first. But a pre-'65 player, with 10
years' service, gets an annual pension of $12,000, and should he
die first, his widow would only get half. Ryan: "You don't even
want to know what a minimum qualifier (i.e. five years' service)
or his widow would get." Tomorrow, attorney Dennis Coleman will
be representing the NBA's who predate '65 in talks with NBA
Deputy Commissioner Russ Granik. Coleman looks to secure an
"irrevocable" NBA commitment for an additional $10M from the
owners to go to the pre-'65 players. He will also try to get the
widows' benefits up to 100%. Granik: "I believe this is
something we should be able to work out." Ryan writes although
owners have given preliminary approval, before they sign off on a
deal, they want "to get their hooks into" a licensing agreement
formed among older players, XPRO, as they will hold leverage with
the NBA's 50th anniversary campaign next season. Ryan notes the
"real villains" are the current players and the NBPA hierarchy,
who are "wallowing in dough" (BOSTON GLOBE, 8/28).
DR. NAISMITH, NO WORRIES: Massachusetts House members voted
to provide $25M to improve the Basketball Hall of Fame in
Springfield amid reported "threats" that the Hall would move to
Florida. The MA Senate voted to fund the projects through state
bonds (BOSTON GLOBE, 8/27).
