migs21
07-08-2009, 03:27 AM
By Chris Ferrell - Express-News
As you've probably heard, the summer of 2009 isn't exactly the best time to be on the market if you're an NBA free agent. Between a sagging economy and teams' desire to keep cap space free for the Summer of LeBron in 2010, many players are settling for less money.
Call it the year of the midlevel exception.
Proven veterans such as Rasheed Wallace (Celtics) and Ron Artest (Lakers) are taking paycuts to accept the midlevel exception — $5.8 million for next season — from title contenders.
The Spurs are expected to use theirs to help beef up the frontcourt, with names such as Antonio McDyess and Glen Davis being mentioned.
If teams use that $5.8 million on a player who helps them win a title, it will be money well spent. If he doesn't put them over the hump, there could be buyer's remorse.
So if the player you need isn't available, there are other ways to spend the money.
What else will $5.8 million buy?
• A Bugatti Veyron, the most expensive street legal car on the market, retailing for about $1.7 million in the U.S. It's capable of going 0-60 in 2.6 seconds, with a top speed of 253 mph. French automaker Bugatti only plans to produce about 300 of them.
Tony and Eva could each get one, and the Spurs would still have money left over to bring back Bruce Bowen when the Bucks waive him.
• Sixty-six shares of Berkshire Hathaway stock, which dropped to $87,200 on Tuesday.
A year ago, Warren Buffett's company was trading for $118,705 a share. So if you've got the patience to wait for the market to bounce back, the profits could be used to pay Grant Hill his 2008 salary of just more than $1.9 million.
• “American Idol” judge Simon Cowell reportedly earns $36 million a year to do 30 episodes of Fox's hit show. That means you could bring him in for four hours of critiques and find out exactly how brutal, horrendous and absolutely dreadful you really are for about $4.8 million.
That still leaves enough money to pay Clippers forward DeAndre Jordan, who's slated to earn $736,400 next season. To maximize the enjoyment, let Cowell give his opinion on Jordan's decision to leave Texas A&M after one year because he expected to be a lottery pick.
• A group trip to the Super Bowl in Miami so you can at least see someone win a championship. Premium club level seats to the game at Land Shark Stadium are going for $7,750 on StubHub. A check of Orbitz.com finds roundtrip airfare from San Antonio and three nights in a junior suite at the Palms Hotel and Spa on South Beach for $1,607 per person.
That means you can take 618 of your closest friends — or take 341 other people and still have enough to match former lottery pick Sean May's 2008 salary.
• A 1,199-square foot, 1 bedroom, 11/2 bath condo in the famous Plaza building overlooking New York's Central Park ($5,595,000 asking price).
It's going to take about all of the midlevel exception, but the listing does say that bedroom is “oversized.” Hey, it will produce as many points, rebounds and blocked shots as the Rockets are prepared to get from Yao Ming next season.
As you've probably heard, the summer of 2009 isn't exactly the best time to be on the market if you're an NBA free agent. Between a sagging economy and teams' desire to keep cap space free for the Summer of LeBron in 2010, many players are settling for less money.
Call it the year of the midlevel exception.
Proven veterans such as Rasheed Wallace (Celtics) and Ron Artest (Lakers) are taking paycuts to accept the midlevel exception — $5.8 million for next season — from title contenders.
The Spurs are expected to use theirs to help beef up the frontcourt, with names such as Antonio McDyess and Glen Davis being mentioned.
If teams use that $5.8 million on a player who helps them win a title, it will be money well spent. If he doesn't put them over the hump, there could be buyer's remorse.
So if the player you need isn't available, there are other ways to spend the money.
What else will $5.8 million buy?
• A Bugatti Veyron, the most expensive street legal car on the market, retailing for about $1.7 million in the U.S. It's capable of going 0-60 in 2.6 seconds, with a top speed of 253 mph. French automaker Bugatti only plans to produce about 300 of them.
Tony and Eva could each get one, and the Spurs would still have money left over to bring back Bruce Bowen when the Bucks waive him.
• Sixty-six shares of Berkshire Hathaway stock, which dropped to $87,200 on Tuesday.
A year ago, Warren Buffett's company was trading for $118,705 a share. So if you've got the patience to wait for the market to bounce back, the profits could be used to pay Grant Hill his 2008 salary of just more than $1.9 million.
• “American Idol” judge Simon Cowell reportedly earns $36 million a year to do 30 episodes of Fox's hit show. That means you could bring him in for four hours of critiques and find out exactly how brutal, horrendous and absolutely dreadful you really are for about $4.8 million.
That still leaves enough money to pay Clippers forward DeAndre Jordan, who's slated to earn $736,400 next season. To maximize the enjoyment, let Cowell give his opinion on Jordan's decision to leave Texas A&M after one year because he expected to be a lottery pick.
• A group trip to the Super Bowl in Miami so you can at least see someone win a championship. Premium club level seats to the game at Land Shark Stadium are going for $7,750 on StubHub. A check of Orbitz.com finds roundtrip airfare from San Antonio and three nights in a junior suite at the Palms Hotel and Spa on South Beach for $1,607 per person.
That means you can take 618 of your closest friends — or take 341 other people and still have enough to match former lottery pick Sean May's 2008 salary.
• A 1,199-square foot, 1 bedroom, 11/2 bath condo in the famous Plaza building overlooking New York's Central Park ($5,595,000 asking price).
It's going to take about all of the midlevel exception, but the listing does say that bedroom is “oversized.” Hey, it will produce as many points, rebounds and blocked shots as the Rockets are prepared to get from Yao Ming next season.