HIGH-YIELD RETURN JACKSON A SAFE INVESTMENT FOR NBA'S ELITE.Byline: Ross Siler Staff Writer The only coach with as many championship rings as Phil Jackson
Philip Douglas "Phil" Jackson (born September 17, 1945 in Deer Lodge, Montana) is the current coach of the Los Angeles Lakers, an American professional basketball team. was told a figure over the phone one morning last week and asked for his thoughts. ``Ten million? Christ,'' Red Auerbach Arnold Jacob "Red" Auerbach (September 20 1917 – October 28 2006) was a highly successful and influential basketball coach of the Washington Capitols, the Tri-Cities Blackhawks and the Boston Celtics. said. ``He doesn't even do it by himself. He has all of his assistants.'' The times certainly have changed from Auerbach's day, when he was hired by owner Walter Brown Walter Brown may refer to:
Barely a half-century later, the 87-year-old Auerbach could see a coach in his lifetime command a professional sports The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. record $10 million a season, more than twice the average salary of an NBA NBA abbr. 1. National Basketball Association 2. National Boxing Association NBA (US) n abbr (= National Basketball Association) → Basketball-Dachverband (= player. That is where the bidding will start for Jackson to return to coaching - whether it is with the Lakers, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Knicks or elsewhere - with some saying it could climb as high as $12 million plus a possible ownership stake in a team. ``He's not a guy where money drives his decisions,'' said Brian Musburger, one of Jackson's agents. ``He's turned down a lot of lucrative deals other people we've worked with would never consider turning down. ``I don't think that's going to determine what he does here.'' The question is whether any coach, even one who has averaged nearly 60 wins a season and led teams to nine championships, is worth that kind of money. The answer, with the Lakers and Knicks worth $1 billion combined at last estimate and both searching for signs of hope, is that Jackson just might be. ``I suspect we're going to pay something relatively close to that,'' Lakers owner Jerry Buss Dr. Gerald Hatten “Jerry” Buss (born in 1934) is an American professional basketball team owner, former real estate developer, and poker player. Early life Raised near Kemmerer, Wyoming, Buss earned a B.S. said Wednesday of the $10 million figure, ``regardless of who the coach is.'' The argument for why Jackson may be worth it can be summed up neatly: In the five years Jackson coached the Lakers, the franchise nearly doubled in value, from $282 million to $510 million, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Forbes magazine, much of which could be attributed to the three championships the Lakers won. But after trading Shaquille O'Neal Shaquille Rashaun O'Neal (pronounced "shak-KEEL") (born March 6, 1972 in Newark, New Jersey), frequently referred to simply as Shaq, is an American professional basketball player, generally regarded as one of the most dominant in the National Basketball Association (NBA). and parting ways with Jackson last summer, the Lakers finished out of the playoffs for the first time in 11 years, with tickets going unsold and television ratings Television ratings may refer to:
And after taking in $170 million in revenue, Forbes estimates, for the soap-opera 2003-04 season, the Lakers would like to keep things that way. ``I think that would be a very calming move in this marketplace,'' USC An abbreviation for U.S. Code. sports business professor David Carter said of rehiring Jackson. It would send a message, Carter added, to season-ticket holders, corporate sponsors and everyday fans alike that the franchise was headed in the right direction. If he decides to return, Jackson is expected to receive a landmark deal, on par with the compensation package for the average CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of a major American corporation in 2004. The previous record for a coach in professional sports came when George Karl agreed to a two-year extension with the Milwaukee Bucks in March 2001 for $7 million a season plus a 1 percent ownership stake. ``I think I would be shocked (to see $10 million),'' said agent Bret Adams, who negotiated Karl's deal. ``Up to this point, salaries after George really went in the other direction.'' It was only a generation ago that Bill Sharman coached the Lakers to the 1971-72 championship, their first in Los Angeles, and made $55,000, plus playoff bonuses, for doing so. He was told he was the NBA's highest-paid coach then. ``That was a lot of money at the time,'' Sharman said. ``At least to me.'' Carter, meanwhile, said the most important consideration might be whatever ownership share Jackson can get from a prospective team. Such a precedent was set by Pat Riley when he left New York for the Miami Heat in 1995. Riley received a reported 10 percent stake in the Heat from owner Micky Arison when he arrived. What was worth $6.8 million then is estimated to be worth $27.9 million now, as Riley becomes fully vested after this season. If Jackson could get 5 percent of either the Lakers or Knicks, that share would be worth about $25 million immediately and potentially $50 million to $70 million in a decade, if it appreciates at even half the rate that Riley's did. But Buss ruled out an ownership stake for his next coach Wednesday, with one source saying that he has no more shares to give up on his own. The Knicks, owned by Cablevision, are believed to be in better position to offer Jackson some type of equity. The Lakers last summer gave former coach Rudy Tomjanovich the same five-year, $30 million deal that Jackson got when he first arrived, leading some in the organization to believe they dramatically overpaid o·ver·pay v. o·ver·paid , o·ver·pay·ing, o·ver·pays v.tr. 1. To pay (a party) too much. 2. To pay an amount in excess of (a sum due). v.intr. To pay too much. for Tomjanovich. Yet Carter said people should not be fixated fix·ate v. fix·at·ed, fix·at·ing, fix·ates v.tr. 1. To make fixed, stable, or stationary. 2. To focus one's eyes or attention on: fixate a faint object. on the $10 million figure when it comes to Jackson. ``You have to look at it as, `Is Phil Jackson worth $2 million or $3 million more than whoever Dr. Buss would consider the next-best alternative?' '' Carter said. Ross Siler, (818) 713-3607 ross.siler(at)dailynews.com CAPTION(S): 2 photos, 2 boxes Photo: (1) The Lakers franchise nearly doubled in value during Phil Jackson's five years as coach. Jeff Haynes/AFP/Getty Images (2) no caption (Phil Jackson) Box: (1) CLEARING THE BAR (2) COST OF BEING BOSS |
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