Riley, Spoelstra Among Heat Officials Taking Pay Cuts This Season
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Heat President Pat Riley One Of
Many Staffers Taking Pay Cut |
Economic problems have forced Heat President Pat Riley, coach Erik Spoelstra and "several members of the team's front office to take pay cuts entering the season," according to Michael Wallace of the MIAMI HERALD. It was unclear yesterday "how much of a paycut the coaching and administrative staffs are facing." The team has "only 13 players under guaranteed contracts entering the season, two less than the league maximum." Wallace notes the Heat reportedly were "among several NBA teams that saw a big drop in ticket revenue last season, with Miami's dip estimated at about" $3M (MIAMI HERALD, 9/15). In Ft. Lauderdale, Ira Winderman reports Riley, "seeking to avoid the type of layoffs that cost the business side of the team's operation about 20 jobs in May," asked the "basketball side of the team's operation to voluntarily accept pay cuts ranging from" 2-20%. Though the coaching staff will "return intact, all will operate at salaries significantly lower than last season," and the salary cuts, which "include everyone from the team's media-relations staff to the scouting staff to the executive staff, will cost Spoelstra and Riley well into the six figures." Meanwhile, Winderman notes the Heat have not replaced former GM Randy Pfund, and Riley, Senior VP & Assistant GM Andy Elisburg and VP/Basketball Operations Nick Arison have taken on "many of those responsibilities" (South Florida SUN-SENTINEL, 9/15).
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