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Well at this point it sounds like Holt will match an offer down the road...
For now, Holt holding line on offer to Parker
Web Posted: 10/31/2004 12:00 AM CDT
Johnny Ludden
Express-News Staff Writer
Spurs chairman Peter Holt said Saturday he had no plans to increase his six-year, $64 million offer to Tony Parker while acknowledging the team may have to pay more next summer to re-sign its starting point guard.
The Spurs have two days to extend Parker's contract to prevent him from becoming a restricted free agent at the end of the season. NBA officials said they would approve contracts on Monday, pushing the deadline back a day.
Holt said he empathized with Spurs coach Gregg Popovich, who had urged the team's owners to reconsider their position.
"I understand Pop's frustration," Holt said. "He's spent years putting together this great young team. We'd both love to get Tony signed and keep him as part of our core, but there are so many uncertainties right now.
"I just don't feel comfortable going any further."
Spurs officials, based on their conversations with Parker, think their chances of reaching an agreement would improve significantly if the team increased its offer to $66 million. Parker's agent, Marc Fleisher, maintained Saturday he is seeking $70 million for the six-year extension.
Fleisher offered to meet with Holt, but team officials are not optimistic that negotiations will resume.
"I understand that on paper, yes, it looks like we're close with only one or two days left before the deadline," Holt said. "But we had a place where we started (in negotiations) and they had a place where they started. And now we're kind of done and, from what I hear, they're kind of done."
Though the Spurs' ownership group is made up of 19 investors, Holt said the decision not to increase the offer was "primarily my own."
"Without a doubt, it's been the single-hardest decision I've made as owner," Holt said.
Holt said he does not want to increase the offer because the NBA's salary structure may change this summer when the collective bargaining agreement between the league and players union expires. The league is seeking to reduce the maximum length of guaranteed contracts as well as the annual raise a player may receive.
The team can't assess its financial future and accurately project any losses until it knows the terms of the new CBA, Holt said. The Spurs will have the right to match any offer sheet Parker signs this summer, but Popovich said Friday he doubts the cost will be any more favorable than what Parker is currently seeking.
"As a businessman, I know I still have the right of first refusal," Holt said. "If we didn't have that, we might be doing things a little bit differently right now.
"Now, I understand it may cost me more next summer. And I might be kicking myself for the next five or six years because I had to pay a lot more to keep him. But right now, with everything so uncertain, I think it's the right thing to do."
Parker also will be taking a gamble — most notably, the risk of injury — if he doesn't sign an extension. Fleisher acknowledged that concern, but said he thinks Parker could command a maximum contract next summer provided he performs well.
Memphis forward Pau Gasol and Utah forward Andrei Kirilenko, another of Fleisher's clients, each received six-year extensions worth about $86 million, currently the maximum allowed. Indiana signed point guard Jamaal Tinsley to a six-year, $39 million deal. Fleisher said he expects Portland forward Zach Randolph to receive more than $80 million.
"With some of the other deals that are out there," Fleisher said, "we think the $70 million we're asking for is eminently fair."
Though the Spurs have kept their payroll from escalating much above the league's salary cap in recent seasons, it will increase substantially over the next couple of years. Tim Duncan (seven years, $122 million), Manu Ginobili (six years, $52 million), Rasho Nesterovic (six years, $42 million), Brent Barry (four years, $21 million) and Bruce Bowen (three years, $12 million) have signed long-term, guaranteed contracts within the past 15 months. Malik Rose also has a little more than $30 million remaining on the deal he signed in July 2002.
The Spurs have earned about $25 million in luxury-tax rebates the past two years in addition to receiving their share of the hefty expansion fee Charlotte had to pay to join the league this season. But Holt said that money is being used to reduce debt the team ac ulated while playing in the Alamodome and constructing the SBC Center.
Holt said he is prepared to pay some type of luxury tax in the future, but he doesn't want the team's annual penalty to be much more than the modest $300,000 it paid following the 2002-03 season.
"I can live with that," Holt said. "But I can't pay $50 million in luxury tax. I can't pay the kind of tax (Dallas owner) Mark Cuban and (Portland owner) Paul Allen have paid.
"I can't do that for a couple of reasons: I don't have that kind of money and I don't think it's the right way to run a business."
Holt said Parker and Fleisher have been "very professional" during negotiations. He also said he doesn't mind Popovich disagreeing with him.
"We've disagreed before on which players we should keep and what we should pay," Holt said. "I don't blame him for being upset. He and Tony have come a long way together, and he's worried about losing him. I'm worried about losing him.
"We're taking a risk here. I'm not pretending we're not. It's a scary time."
http://www.mysanantonio.com/sports/...er.bf51b3f.html
Well at this point it sounds like Holt will match an offer down the road...
It doesn't sound like Holt is willing to budge. Maybe Tony/Fleischer will. I hope it gets done tomorrow, but it doesn't seem like it.
Supposedly, Fleischer worked out a deal with Utah on Kirilenko that had incentives in order to get the over-all value of the agreement higher. Holt needs to think outside the box on salary versus incentives or at least do a little homework and due-diligence on what Fleischer has done for other clients below the surface. Maybe he has and this is all about the mental, negotiating game.
It's interesting the Holt has risen again to prominence following his rehab and seclusion during last season's bout with alcoholism.
I'm not 100% convinced Holt will match...if he is willing to do so then why is he saying "It's a scary time."
It sounds to me like Holt is hoping that the lux tax threshold will get raised next summer. It sounds to me like this whole issue is caused by Holt not wanting to get stuck by the the lux tax. If Holt is going to get taxed by paying Parker what Parker wants...Holt won't resign him IMO.
Holt needs to sell the team. Michael Jordan is looking to buy, for one. Or sell his share to SBC or HEB or something. He's unfit for business.
And truth be told, the only off the court blemish on the orginaztion in the last couple years was due to their owner. I know it's not something that is ever mentioned, but if it were a player in the same situation ... you can bet the Spurs would have gotten rid of him.
It's time to get Pete Cat out of the command seat.
Dayumn! TimVP just hit Holt with WMD!!!!!!!!!
Brutal. True, but still brutal.
But none of that can happen unless he wants to sell his share.
And it doesn't look like that's happening.
Hey, I'll come down on anyone. I don't get it that people can call Vin Baker a fat, slobbering drunk yet the only thing you'll hear about Holt is that he is a great, honorable man. !@#$ that.
He should have let the other 65% of the team's owners buy him out after his little situation. The Spurs profit enough that the interest would be there from the other owners. , Forbes listed the Spurs are one of the most valuable franchises in all of sports.
I had a problem with Holt before all of this came out. Now I really have a problem with him.
He doesn't even own half the team. The other owners need to step up and vote him off. The chair needs to be removed from the chairman.
Holt is going nowhere. He is liked in the community and is tight with David Stern...even serving on one of his committees or something in the past
then why did Holt ADMIT in this article he would pay some Lux Tax? I thought people always claimed he wouldnt? he says here that he would. Besides, the Lux tax very well may be going away in the new CBA anywayIf Holt is going to get taxed by paying Parker what Parker wants...Holt won't resign him IMO.
The breaking point evidently came when Kirilenko and his agent, Marc Fleisher, gave the Jazz the discount they were seeking by agreeing to defer payment of a significant amount of the $86 million — perhaps in the 15 percent range — beyond six years.
Some of the contract may also be incentive-based, though Jazz basketball operations senior vice president Kevin O'Connor would not discuss that Thursday night.
The deal, it's believed, will start at $10,967,500 in the 2005-06 season — or one-fourth of the current NBA team payroll salary cap. This season, though, Kirilenko is locked into making $1.67 million.
Kirilenko wound up, it seems, with the same max money Memphis gave Pau Gasol. The Jazz found a way to save a chunk of change over the course of the contract with the interest it can keep by not having to pay everything right away, plus the fact the contract is maxed at this season's cap figure and not next season's higher number. And both sides apparently are happy. - Deseret News
Utah got creative with Fleischer, even though they spent big on a couple of other guys
Great ideas, Solid D. Either incentivize part of the deal or defer some of the payments. They can figure out a way to get this done.
How about $68M with 20% defered?
BTW, welcome to the forum, TDM.
In 6 years, when Parker is 28, his next contract.... 20 mill/yr?
Wow.
Then he needs to go be on the NBA board of directors instead of being an uncompe ive nickel and dime owner who squanders a once in a lifetime dynasty opportunity. He can spend lots of time with Stern there.
What he said:
Notice how he exaggerated the figure by 49 million dollars with no inbetween?Holt said he is prepared to pay some type of luxury tax in the future, but he doesn't want the team's annual penalty to be much more than the modest $300,000 it paid following the 2002-03 season.
"I can live with that," Holt said. "But I can't pay $50 million in luxury tax. I can't pay the kind of tax (Dallas owner) Mark Cuban and (Portland owner) Paul Allen have paid.
IIRC the Spurs still got escrow or surplus money, what ever it is, the year they paid the tax...they still sucked money off the other owners in the league. So it's not like he was one of the bigboys...he was still small time inspite of the fact that his teams accomplishment wasn't.
Don't confuse the fact that we got lucky to draft Tim Duncan with Holt being some kind of small market genius. This team has had a lot of luck and had the good fortune of having some very high quality players who legitimately cared about this team and the city of SA, and it also has fans that have stepped in more than once to keep the team from making a very stupid decision. Holt has been the beneficiary of those things, not the creator.
He's got his stadium. He's got a team and organization that outshines him and out-performs him in his own vision. His team and it's fans are bigtime...he isn't.
It's time for him to put-up and put-out or shut-up and get-out.
Last edited by whottt; 10-31-2004 at 01:53 AM.
Yeah there is still some leeway built in so that if you barely go over the luxury tax (by like less than a million dollars, IIRC), you still get the huge payout.
So yeah, Holt is willing to go over the luxury tax a couple dollars. Wow, with that type of money the Spurs can maybe sign a player to a ten-day contract.
Holt is Stupid! He better pay up Tony right now and lock him up for 66/68/70 mill rather than wait till the end of next summer where there will stupid teams lining up and will no doubt seduce Tony away from the spurs for 85+ million. I think Holt been hitting the Bottleway too much!
That is very true! Our players have been very caring for the City and their fans. David Robinson could of said said " it" earlier on in his carrer and gone off to play in a bigger market for more money/endorsements and a chance to play with better players, but ya'll know big dave's heart.
Last edited by Ginobilly; 10-31-2004 at 02:04 AM.
This Parker thing is interesting. I caught on to this crap when David was getting his last contract. Peter and Pop have always been dip s when it comes to contracts. If it isn't black and white and spelled out by the NBA, they have no idea how to structure something. I understand that they have been successful, however, you can't tell me that they weren't lucky to draft David and Tim with the 1st pick.
I have taken alot of flack for the Peter and Pop sucks crap over the years, but it seems like a few are starting to catch on. I should've patented it.
What does Pop have to do with this, Sequ. Holt is the one being a cheap ass.
Pop obviously doesn't take the blame for this...and perhaps he doesn't deserve the blame for what happened with Robinson either. Pop has had more to do with the Spurs small market success than Holt. Forget what Pop does as a coach...as GM and hiring exec Pop is close to being a genius.
Peter paid other's to stay on this team and he forgot his point guard was due for a new contract. I wouldn't say he is a cheap ass, I would say that he and his coach/president aren't very bright in the contracting business. Stephen Jackson, Speedy Claxton, almost David Robinson, big deals for turds like Malik and Rasho. Plus they recruit free agents that absolutely suck. This has been happening for a while.
Peter is the owner, but don't act like Pop has nothing to do with it all.
It's just a shame that Holt has such limited vision...
The best way to make money off a franchise is to drive up it's value and nothing does that like increasing it's fan base..and nothing increases a fan base like winning.
Right now, he's got a team that most people consider the best run team in all of pro sports(and that is due to Popovich more than any other single person)...it's on the verge of being a dynasty now that the Lakers have been killed.
He's got a roster of international players, a couple of whom have megastar potential for entire continents. He has the opportunity to capture the markets of entire countries, and maybe even continents, for his team, at a time when basketball is clearly the second most popular game in the world. Not to mention the fact that he has the Cen-Tex market all to himself with no compe ion from any other Pro Sports team. It's all there for the taking...just win. Go after the opportunity fate is giving him.
It's too bad we don't have Tex Scramm as the Chairman of this team....We'd already have France changing the colors of it's flag to Silver and Black.
That's great, but he can't capitalize on most of it because the NBA takes it all and disperses it amongst the rest of the league.
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