Minority Investor Coming For Penguins? First One Daytona Tenant Opens Maine Basketball Making Statement On HB2 NFL Taps Paul Clement To Argue Case Fox Rolling Out New Broadcast Elements Voke Producing VR NFL Highlights Sources: Chargers Expected To Move To L.A. In '17 Monster Energy To Title Top NASCAR Series LA 2024 Betting On Historic Sponsorship Sales S&E Sponsorship Group Acquired By Dentsu Aegis
SBD/Issue 112/Leagues & Governing BodiesPrint All
Stern Says Money Should Not Be
Considered A Bailout
NEED A HAND? Kings VP/Business Communications Mitch Germann Thursday confirmed that the Kings are among 12 teams set to borrow from the credit line. The team "did not detail the amount it will borrow or how it plans to use the cash." NBA Senior VP/Marketing Communications Mike Bass said that the amount each team can borrow is contingent on "previous borrowing." The NBA will not release the names of the 12 teams (SACRAMENTO BEE, 2/27). Meanwhile, NBA and Wizards sources Thursday confirmed that the team is not among the 12 franchises that will use the credit line (WASHINGTON POST, 2/27).
IT PAYS TO BE AVERAGE: ESPN.com's Ric Bucher writes for NBA teams, being an average franchise is now "more cost-effective than going a round deeper in the playoffs," which is "unhealthy." The league "shouldn't wait until the [CBA] expires to cure the situation," because "whatever problems the NBA faces, they are sure to multiply if the pursuit of a ring becomes synonymous with fiscal suicide" (ESPN.com, 2/27).
Kelly Says Shrinking Salary Cap Means Trouble,
But Interest Of Players Never Been Higher
UNION FOCUSING ON NEXT SEASON: ESPN.com's Pierre LeBrun wrote, "Obviously everyone's concern is the cap for the 2010-11 season, when diminishing revenues as the recession really hits at all levels will likely bring down the cap." But Kelly said that he and the agents "focused more on next season because anything past that is like trying 'to predict the weather.'" One concern both the union and agents shared was the "potential for NHL teams to bury some players in the minor leagues over the next few years in order to alleviate cap issues." Neither the union nor player agents "like that idea at all," but there is "nothing in the CBA that prohibits it unless the player in question has a no-movement clause." Newport Sports agent Pat Morris said, "The NHLPA is very organized. Its staff has grown in leaps and bounds over the last year and that can only lead to productive things for the players and the game. They're certainly more inclusive of our role, they know what we can do and how we can help. That's a good partnership going forward" (ESPN.com, 2/26).
Honda Team Principal Ross Brawn Leads
Management Buyout Of Honda F1 Team
NOT SO CUT AND DRY: In London, Tom Cary reports Honda Racing F1 CEO Nick Fry, Brawn and three other directors "finally convinced Honda's board in Tokyo to hand over a sum, believed to be in excess of $100[M], to enable the new team to continue racing in 2009 at least." However, Cary notes the buyout of the Honda team is likely to mean a "pay cut of roughly" $7.5M for Button, as well as some 250-300 staffers likely to losing their jobs, "including the test team -- with those remaining taking substantial cuts in pay." But Cary notes unrest at the team headquarters "regarding the proposed takeover, with suggestions that workers may be prepared to go on strike," as "disgruntled employees called the management together [Thursday] to voice their concerns and were left anxious at the lack of answers." One "major bone of contention revolves around the redundancy packages on offer, which are less generous under the new regime than they would have been had Honda wound up the company" (London TELEGRAPH, 2/27).
Williams F1 Owner And CEO Do Not Expect
Team To Suffer From RBS' Negative Publicity