Stern strikes: Gilbert fined $100,000

[Snowball]

Dan Gilbert has been fined $100,000 for his public outburst after LeBron James bolted Cleveland for Miami in free agency. David Stern called Gilbert's press release "ill-advised", "imprudent" , and "a little bit extreme". Stern was also critical of James airing the announcement on made for televsion special live on ESPN but said the Miami Heat violated no league rules in obtaining Dwyane Wade, James, and Bosh in the offseason.
Stern also broached the subject of Jesse Jackson who likened the Cavs owner to a slave owner.
"However well-meaning Jesse may be in the premise on this one, he is, as he rarely is, mistaken," Stern said. "And I would have told him so had he called me before he issued his statement, rather than this morning. But he is a good friend of the NBA and our players. Has worked arduously on many good causes and we work together in many matters."

http://www.clevelandleader.com/node/14180

At the same time, Stern called "ill conceived" James' choice to turn his free agency decision into a massive media spectacle. He also said that, even though Mavericks owner Mark Cuban had mentioned that the league should look into whether tampering occurred, no formal complaint was filed.

In another statement posted today on the Cavs site, Gilbert said that he strongly disagreed with the comments made by Jesse Jackson in response to his letter and that he would not discuss the matter further
http://www.sbnation.com/2010/7/12/15...ed-100k-lebron

[DarkMage]

I actually agree with the fine, very unprofessional to lash out publicly against James..I understand why he did it but the letter went a bit far.

[Shafted69]

This is chump change compared to what his cash cow LBJ has generated for him over the years. He should do what Cuban does, match the fine and donate to his favorite charity.




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[LLXC]

100K pocket change.

[tealish]

100k ..harsh, at least its for charity..

[Mac4Lyfe]

This is chump change compared to what his cash cow LBJ has generated for him over the years. He should do what Cuban does, match the fine and donate to his favorite charity.

Let me copy what I just said to another misinformed poster. Dan Gilbert lost a bunch of money off of Lebron and the Cav's. They never turned a profit the past 7 years... http://www.cleveland.com/cavs/index....ssary_for.html

They barely broke even this year and lost money the rest of the time...

Now let's look at the value of the club because some people have mentioned that Lebron boosted the value. Unfortunately, they don't take into account how he reduced the value the day he left. Keep in mind, Gilbert bought the Cav's when they had Lebron and the perceived value of the club was high. Now without Lebron the value is diminished. So please stop all this Gilbert made money talk. He lost millions of dollars on the Cav's. I'm not shedding a tear for a billionaire but get the facts straight.

http://www.zimbio.com/Dan+Gilbert/ar...th+1+1+Billion

Dan Gilbert is the owner of the Cleveland Cavaliers, and he's worth about $1.1 billion, according to celebritynetworth.com. But, that was before his team lost their star player, LeBron James, to the Miami Heat. Now, it's estimated that he lost about 50% of his franchise worth as soon as the big announcement dropped yesterday, bringing down Gilbert's net worth some.

Do the math...
The Cav's were estimated worth $476 million with Lebron. He just lost 50% when he left... = $238 million current worth.

Gilbert bought the Cav's for $375 million. That's a loss of $137 Million (238-375), not to mention losing money during the season, building a $25 million practice facility (Lebron requested) close to Lebron's house, etc...

and you wonder why Gilbert just wrote a nasty letter...

[brooks85]

You will have to give mac a break, he does not know how to separate the value of a something to actual annual income. He will get it someday.

[tltaylor89]

Correct judgement .Although he owns a franchise of payday loan shops that zap money from poor minority people at a rate of 200%

[Mac4Lyfe]

You will have to give mac a break, he does not know how to separate the value of a something to actual annual income. He will get it someday.

Huh? Do you even read? You obviously didn't read the link I posted. Let me spoon feed you... I've bolded the parts you should get a dictionary and interpret.

Last season, the Cavs, who paid out in excess of $100 million in salary, finished just below the break-even line, sources said.

So far this season, the Cavs' operating revenue is indeed in the red, sources said. They are part of the heavy losses in the NBA that will cause the salary cap to decrease for the second year

The problem is the Cavs need all of that revenue just to break even. The Los Angeles Lakers, meanwhile, reportedly earned in excess of $50 million last season.
That is why midmarket teams such as the Cavs are pushing for a change in how the money is distributed. Gilbert is on the committee that is negotiating a new labor contract.

[Domestic]

Did not see a fine this big coming, although it is chump change for Gilbert.

[suckerforparlays]

It had to be atleast $100k what are they gonna fine him $50k? Thats pointless he is high paid person. But $200k would be to much of a fine so $100k is right IMO

[Mac4Lyfe]

Did not see a fine this big coming, although it is chump change for Gilbert.

Several Cav fans came out and said they would pay the fine but Gilbert declined their offer... Gilbert the balla

[Bradyd]

Several Cav fans came out and said they would pay the fine but Gilbert declined their offer... Gilbert the balla

He had no other choice but to decline it. Why would a billionaire accept their money? He needs to tell them to come to the Cavs games

[qsilver335]

Gilbert had to speak his mind and using the media like he did was his only option. For doing so he is a hero in cleveland, even though the rest of the country may think he acted like a child.

[Bradyd]

Gilbert had to speak his mind and using the media like he did was his only option. For doing so he is a hero in cleveland, even though the rest of the country may think he acted like a child.

I can see that point. But it's only short term. His actions may have cost him high profile players in the future.

[Mac4Lyfe]

I can see that point. But it's only short term. His actions may have cost him high profile players in the future.

I don't understand this. Small market teams have always had a hard time bringing in high profile players in free agency. Elite players aren't falling over themselves to go to Detroit, Minny, OKC, Indiana, Sacramento, Golden State, Orlando, etc., etc., etc., any more than going to Cleveland. This goes for baseball as well.

These teams have to build through the draft and through trades. Nothing's changed.

[Bradyd]

I don't understand this. Small market teams have always had a hard time bringing in high profile players in free agency. Elite players aren't falling over themselves to go to Detroit, Minny, OKC, Indiana, Sacramento, Golden State, Orlando, etc., etc., etc., any more than going to Cleveland. This goes for baseball as well.

These teams have to build through the draft and through trades. Nothing's changed.

What I mean by that is player's purposely not wanting to play there now simply because of the things he said about Lebron. Players being so disgusted that they won't even entertain the idea of playing in Cleveland. While I agree with you 100% on your comment about small market teams having a hard time getting good players, I think his actions made matters even worst for Cleveland.

[Mac4Lyfe]

Players with options don't choose Cleveland or the other teams I posted. That's a fact BUT many players (97%) of them don't have a choice in where they go.

Cleveland made the mistake of putting all their eggs in one basket with Lebron and in an effort to appease him they went 100% the free agent route. They ended up paying a premium for lower level talent instead of trying to get back into the draft or improving trade deals.

[qsilver335]

I will be interested to see if what remains of the Cavs get up for their games next year against the Heat. And if they do amp it up will it not even be close to enough to compete with Miami.

[antifoil]

so why do you guys think gilbert was so mad that lebron left?

[krazey47409]

hes rich as shit fuk that 100 stacks