Larry Brown is seeking a $53.5 million payoff from the New York Knicks for firing him after only one season as the team's coach. Along with the $41 million that remained on the original five-year contract he signed last summer, Brown is asking for an additional 25 percent of the original value of the $50 million contract, or an additional $12.5 million, as "liquidated damages" as a result of the firing. The finances were revealed Thursday in a 10-Q form filed with the Securities and Exchange Commission by the Knicks' parent company, Cablevision. The Sports Business Journal originally reported the story Friday on the Internet, but Newsday also obtained the 10-Q form, which is a public document. NBA Commissioner David Stern is expected to serve as an arbitrator between the sides. A decision will not be immediately rendered. (Story)
Monday, September 25, 2006
Larry Brown Wants His Money!
I still say that the New York Knicks are dumb as hell for firing Larry Brown. They're even dumber if they think that Isiah Thomas is going to perform a one year miracle with that team. I'm sure the Knicks fans are wondering WTF?? Since I'm not a fan of any NBA team, the firing of Larry Brown doesn't personally affect me. I just don't think that it was a wise decision. Anyway, Larry is out to get his $50 million plus payoff along with some more monies owed to him. I hope he gets every cent because firing a championship caliber coach after only one season with a team that sucked anyway, was just not very well thought out.