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Report: David Stern earns salary of $20+ million?

Posted on: August 1, 2011 4:14 pm
Edited on: August 1, 2011 4:22 pm
 
Posted by Ben Golliver. 

david-stern

Those cufflinks could be made of solid gold, the cuffs constructed from the finest ivory. 

Yahoo! Sports reports that NBA commissioner David Stern could make more in salary than all but a handful of the league's players.
Many owners don’t even know what Stern makes. “I’d say three or less know,” one NBA owner told Yahoo! Sports. Several believe it’s somewhere in the range of $20 million to $23 million a year, but no one knows for sure. Maybe it’s more than that, but the fact that some owners don’t know the answer is beyond belief.
That salary ballpark squares with a New York Daily News report from February -- noted by CBSSports.com's Matt Moore in a piece on the league's opulent culture -- which pegged Stern's salary at $23 million.

Only one NBA player is set to make more than $25 million during the 2011-2012 season: Los Angeles Lakers guard Kobe Bryant, who is on the books for $25.2 million.  

Only three other players are set to make more than $20 million: Boston Celtics forward Kevin Garnett ($21.2 million), San Antonio Spurs forward Tim Duncan ($21.2 million) and Washington Wizards forward Rashard Lewis ($21.1 million). 

Stern is reportedly set to bring home more bacon than the league's worst contracts: Orlando Magic guard Gilbert Arenas ($19.3 million) and Phoenix Suns guard Vince Carter ($18.9 million, although only a fraction of that is guaranteed). He will also reportedly make more than most of the league's biggest stars, including Dallas Mavericks forward Dirk Nowitzki ($19.1 million), Los Angeles Lakers forward Pau Gasol ($18.7 million), New York Knicks forward Carmelo Anthony ($18.5 million) and Amar'e Stoudemire ($18.2 million), Orlando Magic center Dwight Howard ($18.1 million) and all three of the Miami Heat's Big 3 of LeBron James ($16.0 million), Dwyane Wade ($15.7 million) and Chris Bosh ($16.0 million).

Two pieces of information worth pointing out. First, Stern has held the commissioner title since 1984, so he's had more than two and a half decades to rack up pay raises. There's a very good chance he is the league's highest-paid employee by leaps and bounds. Second, Stern pledged not to accept any salary in the event of a work stoppage at the 2011 All-Star Weekend in Los Angeles.
Stern was asked whether he would reduce his salary to $1 if the two sides could not reach a labor agreement, as NFL commissioner Roger Goodell has pledged recently. Stern said: "Last time, I ddin't take any salary. I think a dollar would be too high in the event of a work stoppage." 
Still, that seems like an awful lot of money for the league's chief executive. Windfall salaries for chief executives in many industries are often tied to periods of peak company performance. The NBA, though, claims never to have had a positive operating income during the duration of the last Collective Bargaining Agreement. 
Comments

Since: Dec 10, 2006
Posted on: August 7, 2011 9:54 pm
 

Report: David Stern earns salary of $20+ million?

Great points Red Wings. We are debating but in the end it seems like we are in agreement on many points. By the way, it appears that the commissioner actually makes more like 10 million. I agree- no player is worth twice his salary.



Since: Jun 25, 2009
Posted on: August 2, 2011 8:29 pm
 

Report: David Stern earns salary of $20+ million?

I understand your point RedWing. Yes they MUST pay huge salaries and I know there is talent out there among CEO's but it is all based on flawed assumptions that made society evolve as it has. Just like athletes, the first fool that gave an athlete a 100 million dollar contract changed the world for the worse. Now mediocrity gets 50 million. Same in the board rooms. These guys get there 25-50 or 100 million because of past stupidity and flawed norms.

I understand what you're saying but the example you used is actually the reason I don't mind commissioners in sports making a fortune, the example I'm talking about is what you said about the players. In my opinion if players are going to make the kind of money they make then I can't call any CEO or commissioner of a multi billion dollar sports organization overpaid.   At the very least I can say this much about most of these CEO's and commissioners. I can say they are highly educated people. I can say they are intelligent people, even if they don't always succeed.  I can say most had a lot of experience and success in the corporate world somewhere before the NBA or NFL or NHL hired them and I can say if not for these sports leagues they would still be making a damn good living doing something. 

The players? In my opinion don't deserve anywhere near the money they make.  A lot of them are uneducated, heck even some players with degrees didn't learn a damn thing in school except how to party.  A lot of players can't even speak the english language and a lot that do don't speak it properly.  And if not for sports a lot of these players if not most wouldn't have the credentials to work almost anywhere in the corporate world, some couldn't even flip burgers and many would enjoy a life of crime.  Yet they make millions... go figure.

That is why I have no problem with commissioners making a fortune.  How can a commissioner be hired to run a multi billion dollar organization but make 2 to 4 times less what a lot of players make?  That doesn't make sense to me at all.  Player supporters like to say the players are the game and aren't as replaceable as a commissioner but that's a load of crap.  THE players play the game, not THESE players.... there are thousands of great athletes that would be more then willing to entertain us for a lot less then some of these clowns do.

That all being said I agree with a lot of what you said because in a perfect world or at least MY perfect world players would make anywhere from 500 thousand dollars to 5 million max if they are allstars.  If that was the case I would have no problem with a commissioner making as little as the top player at 5 million bucks....  that would be fair if that was the case. Until some of what I said happens though, I'm on the commissioner's side in these debates.



Since: Dec 10, 2006
Posted on: August 2, 2011 6:30 pm
 

Report: David Stern earns salary of $20+ million?

I understand your point RedWing. Yes they MUST pay huge salaries and I know there is talent out there among CEO's but it is all based on flawed assumptions that made society evolve as it has. Just like athletes, the first fool that gave an athlete a 100 million dollar contract changed the world for the worse. Now mediocrity gets 50 million. Same in the board rooms. These guys get there 25-50 or 100 million because of past stupidity and flawed norms.

In a sane world these salaries would not exist and the elite would be overjoyed to be making 10 million per year.



Since: Jun 25, 2009
Posted on: August 2, 2011 4:24 pm
 

Report: David Stern earns salary of $20+ million?

Do I think the commissioner should be making a good salary? Yes! But 5 million a year would suffice and they WOULD get a quality person to do the job. I also believe our elite players should be making no more than lets say 12 million. Let's scale it all down- the wealth and greed is out of control. 

Our world is out of kilter. 95% of the wealth is in the hands of 3 or 4% of the population. If they held 60% of the wealth, they would still have more money than they would know what to do with during their lifetime.

There is a good reason why companies don't pay CEO's 5 million dollars per year or less.  It's because they can't.... trust me, nobody, and I mean NOBODY pays anybody more then they feel they need to pay long term.   Your last statement is very true though, and I doubt that's ever going to change.  The world would be a better place if it wasn't like that, but it is what it is. 



Since: Dec 10, 2006
Posted on: August 2, 2011 11:57 am
 

Report: David Stern earns salary of $20+ million?

RedWing: I respectfully disagree with your comments. They feed into the myth that all of these CEO's in sport or any other business are worth their 23 million or in some cases hundreds of millions. It has been the rich who have perpetuated this myth for their own gain. I mean what a great world- the average worker makes $20 per hour, a CEO makes a million a day! And then in the USA pays no taxes on it since the rich have also sold people on trickle down economics. I think it is more like trickle OUT economics- hundred million dollar yachts in the Bahamas, off shore homes, private jets. So much for the rich creating jobs with their money. And their policies and mismanagement led to the economic meltdown. So much for the argument that we pay for them because of their superior expertise. I personally could have run our economy into the ground and I would have done it for 10 million per year- not a hundred million.

Do I think the commissioner should be making a good salary? Yes! But 5 million a year would suffice and they WOULD get a quality person to do the job. I also believe our elite players should be making no more than lets say 12 million. Let's scale it all down- the wealth and greed is out of control.

Our world is out of kilter. 95% of the wealth is in the hands of 3 or 4% of the population. If they held 60% of the wealth, they would still have more money than they would know what to do with during their lifetime.



Since: Jun 25, 2009
Posted on: August 2, 2011 12:14 am
 

Report: David Stern earns salary of $20+ million?

So it isn't 300 million in losses, it is 277 million in losses plus Stern. I know where I would start cutting. 
 
There isn't a personal on this planet capable of running the NBA that would accept much less then 20 million dollars.  If it was 10 million per year all you people would be saying the same thing you're saying at 20.  It's foolish to think any successful and capable person would do what Stern does for a million dollars or anywhere near that number.   As for teams losing money, I would hardly believe the commissioner is the only reason this is happening.  I think the economy has forced sports fans to choose between their families and favourite sports team and we all know which choice most will make.  When it comes down to it your average American isn't going to support millionaires and billionaires by spending thousands of dollars per year when their job is on the line every single day.  



Since: Dec 10, 2006
Posted on: August 1, 2011 10:58 pm
 

Report: David Stern earns salary of $20+ million?

So it isn't 300 million in losses, it is 277 million in losses plus Stern. I know where I would start cutting.



Since: Aug 16, 2006
Posted on: August 1, 2011 7:41 pm
 

Report: David Stern earns salary of $20+ million?

If the fans quite paying way too much, the ticket prices would have to come down to attract the fans. Then wouldn't it be a domino effect. Players salaries would decrease and so would the commish. I get tired of hearing people make this kind of money, but I wish I was making that kind of money for a failing business which would be true if every team is actually losing money. I don't have any sympathy for players, owners or commissioners if they don't make any money until this thing is settled.




Since: Jun 25, 2009
Posted on: August 1, 2011 7:27 pm
 

Report: David Stern earns salary of $20+ million?

Why? He should be making a million dollars and no more. First of all, he is failing as a commish. Second, who gets to fire this jackwad? We are in a horrible economy and I hear this joker making that kind of money. Just gets to me because the fans always pay and pay way too much. And we wonder why our economy and big business's fail? Its people like this. Who said anyway this is what he gets as a commish? Who makes those decisions?

First of all the owners play a big part in deciding who the commissioner of their sport is going to be and how much they are going to get paid. Second of all you gotta be nuts if you think Stern is overpaid in a league where a large percentage of players can hardly speak english properly make up to 20 million per season.  



Since: Jul 17, 2008
Posted on: August 1, 2011 5:56 pm
 

Report: David Stern earns salary of $20+ million?

Why? He should be making a million dollars and no more. First of all, he is failing as a commish. Second, who gets to fire this jackwad? We are in a horrible economy and I hear this joker making that kind of money. Just gets to me because the fans always pay and pay way too much. And we wonder why our economy and big business's fail? Its people like this. Who said anyway this is what he gets as a commish? Who makes those decisions?


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