Player's contracts are paid in installments , some each month, others every week some receive half of the whole at the start of the season etc. The Rockets didn't have enough money to pay so they asked Westbrook to rework his contract and receive his money in more installements. I thought it was reported here and I happened to miss it. Turns out Tillmans financial situation is MUCH worse than what I believed.
Wait what? Where did you see this? I have joked about Tilman's use of debt and how a downturn will force him to sell the team, but I have only been speculating, this just seems ridiculous. I would think to own an NBA team there are some minimum liquidity requirements.
I discovered today Hollinger- Duncan podcast and heard it there. Hollinger had reported it about 2 months ago, but apparently noone paid attention? https://el.player.fm/series/holling...cast-2559504/nba-organization-rankings-part-1 Go to the 32 minute. He also explains why he put Houston in tier 3 of organisations. If it wasn't for Tillman the Rockets would be tier 1 of the most elite organisations.
I had no idea. Our future looks worse than I thought. This explains a lot. Tilman bit off more than he could chew with his Rockets purchase. We have to find a way to win it all this year. The other contenders will be able to spend and add pieces, as we slowly drift toward mediocrity. I never took the "Tilman is broke" bit seriously but I guess Herrera has been right all along.
Yeah me too I thought it was more of a joke. Forget going into the tax, we didn't have enough cash to pay what we already owe
What's really sad is that we are supposed to be a serious contender and we are discussing whether or not we should consider Amare Stoudamire.
It was mentioned in early August that a condition of the trade from OKC was that Westbrook would agree to defer salary payments towards the end of the NBA year, instead of receiving them throughout the year like the usual custom. See, e.g., this blurb from larry brown sports about it: https://larrybrownsports.com/basketball/russell-westbrook-changed-pay-schedule-rockets-trade/508263 I thought it bizarre at the time, (I'd link to a post of mine saying so, if I could find it.) and I thought it didn't speak well of Fertitta's financial stability. It may be how he pays vendors in the hospitality industry, but the NBA is different.
