Is New Jersey...

Is New Jersey...

Postby FabFourLakers on Fri Nov 28, 2003 12:03 am

still payin Zo's contract they gave him this past summer? since he retired and all, and sort of "screwed them over"...i was wonderin if his contract is still bein paid...he did get a pretty good contract....anyone knoW?
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Postby LA Laker Woman on Fri Nov 28, 2003 2:55 am

The Nets weren't able to find anyone to insure the guarantee on Zo's contract because of his pre-existing medical condition, so they are on the hook for the entire $22.6 mil over the next 4 years.
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Postby Lakers Dynasty 2000 on Fri Nov 28, 2003 9:00 am

Yes, they have to pay out his contract, which is very stupid. But they have to do it...
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Postby Guest on Fri Nov 28, 2003 9:58 am

That's $43 million in contracts they have to pay out between Mutombo and Mourning..

I feel sad for them. But on the other hand, if Mourning didn't go to the Nets then Kidd wouldn't have re-signed.

God bless Mourning.. :bow:
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Postby rydjorker121 on Fri Nov 28, 2003 11:48 am

STUCK WITH THE BILL: As tragic as Alonzo Mourning’s medically forced retirement is, it may only be matched in how tragically bad the decision making process broke down for the New Jersey Nets who are now on the hook for $50 million in salaries for centers that will never play for the franchise again. Nets GM Rod Thorn did confirm for media that the Nets were not able to get an insurance policy on Mourning’s deal, meaning the franchise is on the hook for all $22 million owed him. One caveat on this decision is it came directly from ownership, and not the GM, meaning the owners knowingly signed Zo to the deal, and will now have to foot the bill for his entire contract. The earliest Zo’s contract could come off the cap would be 2005.

There does that solve the problem?
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Postby #1_Kobe_fan on Sat Nov 29, 2003 3:29 am

doh!!!!!
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Postby FabFourLakers on Sat Nov 29, 2003 11:59 am

WOW tha nets got ROYALLY F*CKED!
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