Is Cleveland Cavaliers owner Dan Gilbert a cheapskate? | The Tylt
Is Cleveland Cavaliers owner Dan Gilbert a cheapskate?
If you're going to hire a president of basketball operations in the NBA, you're going to have to do a lot better than 40 percent of the average salary.
Chauncey Billups was initially offered $1.5 million a year to run the Cavaliers—the average salary for a president of basketball operations is $4 million. Gilbert then generously upped his offer to $2 million when Billups rightly balked at the offer. Now, the Cavaliers are still without an executive to run the team.
Outgoing team president David Griffin reportedly left because he was also criminally underpaid, making less than $2 million a year after building a team that went to three straight NBA Finals and won one NBA championship. Dan Gilbert is worth $5.9 billion dollars. Making a competitive offer to run one of your businesses shouldn't be difficult.
Dan Gilbert may not pay his executives well, but he pays where it matters most—the actual team. Dan Gilbert signs the checks on a $136 million dollar team; good for the second-most expensive team in the NBA. He's also scheduled to pay a HUGE luxury tax to keep this team competitive, with ESPN estimating the team shelling out $54 million in taxes. That is not cheap.
Gilbert also made Tyronne Lue one of the highest paid coaches after winning an NBA Championship after taking over midseason with the Cavaliers. Gilbert could've low-balled a rookie coach, but instead, he paid Lue.
Chauncey Billups was coming into a job with zero experience running a front office. A low offer was appropriate considering the lack of work experience Billups had. Despite the low offer to a team president, Gilbert has shown he is willing to pay the big bucks in other areas.