<div class="quote_poster">Quote:</div><div class="quote_post">Larry Brown is seeking a $53.5-million payoff from the 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 - an additional $12.5 million - as "liquidated damages" as a result of the firing. That information was 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. Commissioner David Stern is expected to serve as an arbitrator between the sides Friday in Manhattan. A decision will not be immediately rendered. Brown, who considered the Knicks his "dream job," was fired June 22 after a controversial season and was replaced by Knicks president Isiah Thomas. Garden chairman James Dolan reportedly attempted to buy out Brown's contract before he fired him, but Brown declined the buyout. In hindsight, it was to ensure he got the entire amount of the deal. Under a heading that reads "Contract Disputes," Cablevision says Brown was "terminated with cause pursuant to his employment agreement with the Knicks" and that "in the event that Mr. Brown prevailed, the Knicks could be liable for $41 million pursuant to the employment agreement ... In addition ... Mr. Brown has requested an additional 25 percent of the total compensation as 'liquidated damages,' as well as attorneys' fees." The section concludes with Cablevision stating its view that "no portion of this amount is owed to Mr. Brown and therefore no provision for any severance cost has been recorded in the accompanying financial statements." Brown's lawyer, Joe Glass, did not return a phone call for comment. The Knicks declined comment.</div> http://www.newsday.com/sports/basketball/k...ny-knicks-print
He gets FIRED and he gets $53m - WOW. No wonder seats at the Garden are so expensive. In fact, I wonder exactly how much cheaper they would be if they would just fire him and give him nothing. 20,000 seats x 82 games = 1,640,000 total tickets per year $53,000,000 DIVIDED BY 1,640,000 seats= $32.31 per seat. In other words, if Brown walked away with just his salary for his one failed season, EVERY Knicks ticket would be $32.31 CHEAPER!!!!!!!!! Unbelievable...........
<div class="quote_poster">Quoting shapecity:</div><div class="quote_post">I'd rather them lower the price for alcohol.</div> lol, at that rate, you would get a free 12oz plastic cup of piss, err, sorry I mean Bud Lite, and they would hand you a $20 bill as your "change".
<div class="quote_poster">Quoting shapecity:</div><div class="quote_post">I'd rather them lower the price for alcohol.</div> They could hand everyone who enters the stadium for every game a 12 pack and still have to hand out cash.
<div class="quote_poster">Quoting phunDamentalz:</div><div class="quote_post">He gets FIRED and he gets $53m - WOW. No wonder seats at the Garden are so expensive. In fact, I wonder exactly how much cheaper they would be if they would just fire him and give him nothing. 20,000 seats x 82 games = 1,640,000 total tickets per year $53,000,000 DIVIDED BY 1,640,000 seats= $32.31 per seat. In other words, if Brown walked away with just his salary for his one failed season, EVERY Knicks ticket would be $32.31 CHEAPER!!!!!!!!! Unbelievable...........</div> Wow now I know where they get the money from lol I wondered where
