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Ben Gordon will get paid during lockout

Jeff Zillgitt of USA Today:

Aminu, a rookie last season, is one of four clients of agent Raymond Brothers who spread their 2010-11 NBA salaries over 18 or 24 months to continue receiving paychecks if the league-imposed lockout forces the cancellation of games.

Memphis Grizzlies forward Zach Randolph, Dallas Mavericks forward Caron Butler and Detroit Pistons guard Ben Gordon, all Brothers clients, have similar setups.

On a purely technical level, this is a poor plan for Ben Gordon and friends. Their NBA teams can collect interest on that money for these 6 to 12 months, when if the players had been paid on a typical schedule, they could’ve. But on a practical level, it obviously makes sense. It’s difficult to spend money you don’t have yet, and this plan could definitely help the players manage their budgets.

Zillgitt also spoke with Bill Duffy, who represents Tayshaun Prince:

Agents have advised players to prepare for a lengthy lockout by working with their financial planners.

"For the last two years, we have been consistently preaching about what lies ahead," said Bill Duffy, whose clients include Boston Celtics guard Rajon Rondo, Milwaukee Bucks guard Brandon Jennings, Phoenix Suns guard Steve Nash and Detroit Pistons forward Tayshaun Prince. "I think our guys are very well prepared to even miss the entire year."

Duffy, who held several conference calls with his players, said he was not worried about his veterans.

"Mostly, it was for the younger guys and modifying their spending habits and not making exorbitant purchases at the beginning of their career," he said.

I hope all these players can handle going a few months without paychecks. The owners clearly want an extended lockout that ends with the players desperate for a deal, any deal. For the good of the game, hopefully, both sides will bargain from a position of power.

3 Comments

  • Jul 24, 20112:30 pm
    by Abc

    Reply

    This agent should be condemned not congratulated he purposely had his players get paid less last year so they could keep getting checks. The time value of money means that he actually cost them money by being paid the same amount at a latter time. Basically every player was giving his team a interest free loan…stupid… This isn’t even considering the huge increase in the stock market last year

    • Jul 24, 20112:46 pm
      by JT's Hoops Blog

      Reply

      Ok, I don’t know what u r talking about, but it sounds good to me.  Boo players.  Boo agents.

    • Jul 24, 20116:40 pm
      by tarsier

      Reply

      Unless you know more details than I do, you have no way of knowing that. Assuming a smart agent (which may be a bad assumption), he could collect the paychecks on time, reduce them, collect interest on the remainder, and then continue to disburse paychecks through the summer. And the player could be collecting all or some of the interest depending on the agreement with the agent who is doing the extra work. Now maybe, you are right about how the payout was arranged but I doubt you even know whether you are.

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