Andrew Bogut was unveiled as a NBL side Sydney Kings player on Tuesday.GETTY IMAGES
The National Basketball League hopes the Sydney Kings' "coup of luring" the NBA's Andrew Bogut with the offer of an equity stake "will be replicated" to attract other top Australian players away from U.S. teams, according to Ean Higgins of THE AUSTRALIAN. NBL GM Jeremy Loeliger described the signing of Bogut as "nothing short of enormous." Bogut on Monday revealed that he signed with the Kings because the deal offered him some "skin in the game" in the form of a 10% stake in the team and the option to purchase more shares over time. Loeliger said that while Australian teams had "difficulty" competing against U.S. teams when it came to straight salary, by "dangling the carrot of a shareholding in the franchise they could offer the prospect of capital gain which could be retained, cashed in, or increased on retirement." In Bogut’s case, Loeliger said that holding an equity stake would encourage him to "go the extra yard" in making the Kings an on-court success. Loeliger: "He's not just in it for the short-term pay packet at the end of each week." Loeliger said that he understood the deal with Bogut was such that his "shares in the club were held in escrow or a blind trust while he was playing, and if he moved clubs he would have to divest his interest." Asked how much the deal was worth, Bogut said, "My minimum in the U.S. would be $2.2 million. It's less than that. But not much less than that" (THE AUSTRALIAN, 4/25). In Sydney, Roy Ward wrote Bogut has "gone all in" in on his NBL aspirations by "confirming his retirement from the NBA." Bogut said that he will not file for NBA retirement but he was "99 per cent" retired and wanted his children growing up in Australia." Bogut: "I'm not going to file right now. That's pointless. And you never say never but I think that door is shut for me. This next two years that's for sure -- I purposely didn't put any NBA outs in this contract. That was the security I wanted to give the Kings and that was my decision." Bogut also described his negotiations with the league and the Kings as "world class" and equal to those he has conducted with NBA club execs. Bogut: "Discussions I had had with [NBL Owner] Larry Kestelman and then [Kings Chair] Harvey Lister was that I want to have some skin in the game and see how viable this is." He added, "If this move was about money, then I received an offer from China to play over there for $2 million tax free. If this was about money, I would be gone and we wouldn’t be having this press conference but it’s about more than that" (SYDNEY MORNING HERALD, 4/25).
BRINGING PERSONALITY: In Sydney, Andrew Webster reported Bogut will meet with NBL officials to "discuss their social media policy." Bogut is "quick on the draw when it comes to his Twitter account." He is "entertaining and controversial." Asked whether he anticipates any "blowback" from the governing body at any stage, he said, "We'll find out. I wear my heart on my sleeve." Bogut on what he thought about Israel Folau's comment on Instagram regarding gays said, "What he said was very controversial but I am all for his right to say that -- he has to deal with the consequences. It's tough because I'm not overly religious but he's basically quoting the Bible." He added, "What I struggle with is that if you're going to criticize him, you better make sure your house is in order. What Israel said I don't condone but let's be honest: from that community, most people in the community who were offended don't believe in God anyway, so who gives a shit?" (SYDNEY MORNING HERALD, 4/25).
