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What makes this little so in special that he gets to chose what team he goes to?
Kahn: Rubio not ready to jump to NBA
MINNEAPOLIS -- Timberwolves president David Kahn says Spanish point guard Ricky Rubio has backed out of a deal to play in Minnesota this season.
Kahn says the Wolves negotiated a deal on Saturday night with Rubio's Spanish pro team and agent Dan Fegan to bring the 18-year-old to Minnesota this fall.
Rubio
But Rubio informed Kahn on Monday night that he would prefer to stay in his homeland for two more years to better prepare himself for the NBA. Kahn says DKV Joventut has agreed to trade Rubio to Regal FC Barcelona, where he will play until 2011.
The Timberwolves selected Rubio with the fifth pick in the June draft. Kahn was aware that Rubio was under contract with DKV Joventut for the next two years and said he would be fine waiting for a season, or even two, before the prodigy comes to Minnesota.
But Kahn made three trips to Spain, including last weekend, in hopes of negotiating down an $8 million buyout that would allow Rubio to join the Timberwolves this season, bringing some excitement and pizazz to a team, and a ticket box office, that sorely needs both right now.
NBA rules limit the Timberwolves to contributing just $500,000 toward the buyout, meaning Rubio was on the hook for the remaining $7.5 million.
Yet just as the team appeared to be putting the finishing touches on a deal to bring Rubio to the NBA, Rubio came to Kahn with second thoughts.
"This morning I met with Ricky and his parents and told them that I understood Ricky's decision," Kahn said in a statement. "It was clear to me yesterday and in this morning's meeting that the pressure surrounding Ricky and his family to remain in Spain for at least two more years had only intensified as the summer wore on and was weighing heavily on them."
Shortly after Rubio was drafted, there was talk that he and his agent preferred him to play in a larger market to better take advantage of endorsement opportunities that would help offset the costs of the buyout.
In a statement issued by the Timberwolves, Rubio said he has every intention of coming to Minnesota in two years. The Wolves retain Rubio's draft rights for one year after his contractual obligation to Barcelona ends.
"The reason leading me to take this next step is to have a period of preparation to better take the challenge of the NBA in better conditions as a player," Rubio said. "The Minnesota Timberwolves continue to be my first option and I wish to play with them in the near future."
Regal FC Barcelona reportedly agreed to a $5.3 million buyout of Rubio's contract that will require him to stay in Spain for two seasons. After the 2010-11 season, Rubio will be able to leave for the NBA without having to pay a financial penalty.
The Timberwolves will hold Rubio's NBA rights as long as he is playing professionally. They also have rookie point guard Jonny Flynn, who was drafted No. 6 overall right behind Rubio, to take over while Rubio is in Spain.
Despite the last-minute change of heart, Kahn said he understood the decision.
"I also agreed with Ricky's position that two more years of compe ion in Spain and the Euroleague will only aid his development and that he will be much more ready for the NBA when he joins us," Kahn said.
Information from The Associated Press was used in this report.
What makes this little so in special that he gets to chose what team he goes to?
Rubio said. "The Minnesota Timberwolves continue to be my first option and I wish to play with them in the near future."
dont be so quick to believe everything the media says ...
Just like Trevor Ariza said he was willing to take a pay cut to stay in LA. Talk is cheap, actions speak louder than words. Right now, his actions say that he could have resolved this buyout issue with relative ease and played for Minnesota this season. but he chose to stay in Spain because he won't get very many endorsements right off the bat in Minnesota.
Where does it say with relative ease? He would still be losing money for sure.
My guess is the contract had a plan as to how his team would be paid the buyout. I'm sure Minnesota was more than willing and ready to max out his rookie scale contract to compensate.
So you're saying Rubio has had 6 million dollars sitting around this entire time?
Do you understand the whole buyout process?
Gee, I wonder how Kahn was going to go about slipping the other 7.5 million of buyout cash under the table. Last time ex-Celtic McHale tried to cook the books it cost the Wolves a whole boatload of Number 1's.
EXACTLY what I was thinking!
john elway
As I understand it, Rubio was going to have to take out a loan to cover the bulk of the buyout. It made no sense from a financial standpoint for him to come over this season; and it made little basketball sense either.
Everything works out fine, except Kahn looks like an idiot.
that'd be a dream come true
McHa, I mean Kahn would rather shoot McHa, I mean himself in the head before he'd do that, Luva.
On a scale of 1 to 10, with 1 being not serious at all and 10 being absolutely serious, how serious is this post?
I think it would be smart move for the Wolves just to play Flynn, Atkins and Brown this year.
Smart guy! Somebody in this thread said something like "what makes this ing ass got think he can pick any team he wants" He does and thats all that matters. Good for Rubio. Timberwolves ing suck KAWK!
Dude..that'd be as bad as the Gasol trade. You've got a rookie who is a Maravich in the making if he does some work on his shooting, for a perennial backup like Jordan Farmar? Come on...unless you think the NBA will screw the league over again, that ain't happening.
He already has a contract in europe
One of the reasons I've got no respect for him.
Yes I do. I understand his team has to somehow get 8.2 million dollars. I also understand that this article says there was an agreement worked out between Rubio, the Timberwolves, and his old team (meaning a payment plan had been arranged, or else his team wouldn't have agreed), and he backed out of it.
T-Wolves can only contribute $500,000, everything else has to be his own rookie salary (probably in installments), endorsements, and whatever he gets under the table. Whereas the Spanish team can just buy him out in full, I believe.
I don't think this was necessarily an easy choice for Rubio, but he did what was right financially, and probably better long-term for his basketball career. In no way was he prepared to play in the NBA.
The agreement could have been the team excepted a lesser buyout, but still an amount where Rubio would have to make up the difference minus 500K. He could have ended up making 100K this next year after it is all said and done.
Instead, he chooses to make millions, develop for 2 years and then come. What is the problem? You can estimate that since the Spanish team paid over 5.8M for Rubio's buyout, that Minny was not getting a much better deal, if at all.
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