http://www.slamonline.com/online/nba/2011/09/muggsy-bogues-thanks-mark-cuban/ Friday, September 16th, 2011 at 11:45 am Muggsy Bogues: Thanks, Mark Cuban “I was never able to thank Cuban in person…but I do thank him.” Deserved or not, Dallas Mavericks owner Mark Cuban has acquired somewhat of a lousy rap. Over the course of his 11-year ownership of the Mavericks, he’s been accused of a lack of common sense, of insider trading and has lost over $1 million in fines for actions or comments deemed inappropriate by the NBA. But for every negative associated with Cuban’s name, there is an equal or greater positive. Just ask former NBA player Muggsy Bogues. “I’ve never met Mr. Mark Cuban, but I tell people that I thank him more than life itself,” Bogues, 46, said recently over the phone from his home in Charlotte. “I had three years left on my contract when my mom passed away, and I decided it was time to move on [from basketball]. I walked away from the game with three years left on my contract. He (Cuban) could have easily just have bought me out of my contract, but he went on and honored it and paid the three years out and never looked back.” Acquired by the Dallas Mavericks via a three-way trade in the summer of 2001, Bogues—bereaved over his mother’s passing—never suited up in a single game for the Mavericks. Still, Cuban agreed to pay the 5-3 guard the complete balance of his contract. That amount came out to $3, 617, 400 over the course of the three years years remaining. To this day, Bogues finds himself rooting for Cuban and the Mavericks—not just because of the money, but because of the owner’s kindness. “I was never able to thank Cuban in person for that, but I do thank him,” said Bogues. “And I’m happy the Dallas Mavericks won the Championship. That’s a great organization.” Didn't see this posted before and never knew about this. It shows again what a great owner the guy is. Anyone who shows Bogues respect like that, you have to respect.
See, while that is a good thing, it was beneficial for Cuban to keep that contract on the books in case he needed the money to trade him. That was more important to the Mavs than the money, and probably the reason that Cuban did it. DD
I'll say it was a combination of both, sort of a, "Better than that crap trade we made with Keith Van Horn's contract; and hell, let the little guy have his money, I use that much to tip the Hooters waitress, heh heh heh," but you're right.
Yeah, Cuban wouldn't have done this if it didn't benefit him in some way. Not that it's not a decent thing to do, but at the same time, if cutting Bogues had meant acquiring superior talent, he would have done it in a heartbeat. I'm sure Bogues contract had some value come trade deadline though.
It would leave him $1 million short of a contract he could trade, he doesn't need $1 million he can show that as an operational loss and make it up on his personal taxes. DD
Probably amortized that contract for three years instead of outright paying it in the first year to get the tax benefits. Classic accounting trickery! :grin:
It would actually mean 2 million since it counts as luxury tax since the mavs are always over the cap.
So it was a Win win situation for both parties, why the hell would you want to keep playing a person down when they are obviously one of the better GMs in the league DD? smh.
I'm not trying to take away from the story (it's a cool thing that Cuban did), BUT... I wonder if Cuban always does this? If it's a 1 time thing, kinda seems like he did it because he got something out of it besides the joy of helping someone else. And speaking of "the joy of helping someone else", this would be more of a feel good story if Bogues was thanking Cuban for buying him out and then donating the remainder of the money to a charity. Was Bogues really hurting for that extra 3 mil?
The biggest thing from this story is that Mugsy Bogues is 46. Goodness time flies fast. Feels like it was just yesterday I was opening a pack of Upperdeck basketball cards hoping for a Jordan card or Shaq rookie card only to be disappointed with a Mugsy Bogues card thinking this guys name sounds like Bugs bunny and wondering why he was so damn short.
You sure? The Lakers weren't paying Aaron Mckie when they traded his rights... the Mavs weren't paying Keith Van Horn when they traded his rights (that I'm aware of, apparently Cuban is a nice guy)... just because you retain a player's rights doesn't mean you have to pay him.
I don't understand the system here. An employee decides to announce to his boss and to the world that he will not fulfill his end of the employment contract. Why would the employer even have to "buy the employee out of his contract"? Just stop paying if the employee announces he will stop working.
I am not playing him down, I love Cuban, wish he were the owner of the Rockets... Man, people need to learn there is a vast difference between pointing out the probable facts and slamming someone. Unreal the lack of conceptual understanding on here. DD
So Cuban just gives away $3 million to someone he has never met and who is already a multimillionaire. There is no way he did it out of the goodness of his heart. There are just so many better ways to donate $3 million. Cuban is also is too good of a businessman to be doing it out of stupidity. The only explanation is the trade flexibility argument.
Every feel good story is destroyed here because people are trying to keep it real. This place can be so depressing.
The guy's mother passed!!! Do not the poster above me, but everyone in this thread who doesn't seem to get he didn't just announce he's not playing any more.
